Business
CBN: List Of 43 Non-Eligible Items For Forex Exchange (Full List)
According to the apex bank, this action will boost liquidity in the Nigerian Foreign Exchange Market…
The Central Bank of Nigeria (CBN) has finally lifted the foreign exchange restrictions it placed on importers of 43 items eight years ago.
VerseNews reported that in a statement signed by CBN’s Director of Corporate Communications, Dr. Isa AbdulMumin, the bank said this is a significant change to the foreign exchange market policy.
According to the apex bank, this action will boost liquidity in the Nigerian Foreign Exchange Market and intervene from time to time, stating that interventions will decrease as liquidity improves.
In a circular in June 2015, the CBN published a list of imported goods and services that will not be eligible for foreign exchange in the Nigerian foreign currency market. The list which was originally 41 was updated to include two more items.
Here is the list of the 43 non-eligible items CBN lifted restrictions on:
1. Rice
2. Cement
3. Margarine
4. Palm kernel
5. Palm oil products
6. Vegetable oils
7. Meat and processed meat products
8. Vegetables and processed vegetable products
9. Poultry and processed poultry products
10. Tinned fish in sauce (Geisha)/sardine
11. Cold rolled steel sheets
12. Galvanized steel sheets
13. Roofing sheets
14. Wheelbarrows
15. Head pans
16. Metal boxes and containers
17. Enamelware
18. Steel drums
19. Steel pipes
20. Wire rods (deformed and not deformed)
21. Iron rods
22. Reinforcing bars
23. Wire mesh
24. Steel nails
25. Security and razor fencing and poles
26. Wood particle boards and panels
27. Wood fiberboards and panels
28. Plywood boards and panels
29. Wooden doors
30. Toothpicks
31. Glass and glassware
32. Kitchen utensils
33. Tableware
34. Tiles-vitrified and ceramic
35. Gas cylinders
36. Woven fabrics
37. Clothes
38. Plastic and rubber products
39. Polypropylene granules
40. Cellophane wrappers and bags
41. Soap and cosmetics
42. Tomatoes/tomato pastes
43. Eurobond/foreign currency bond/ share purchases
EXCLUSIVE: Tinubu Under Pressure to Drop Wike as APC Elders Push for Alliance with Fubara
President Bola Tinubu is reportedly considering dropping FCT Minister Nyesom Wike following mounting pressure from APC elders to realign with...
ADC Reacts to Tinubu’s Nomination of Prof. Joash Amupitan as New INEC Chairman
The African Democratic Congress (ADC) has reacted to President Bola Tinubu’s nomination of Professor Joash Amupitan (SAN) as the new...
Joe Igbokwe Warns FG Against Releasing Nnamdi Kanu, Says IPOB Leader ‘Does Not Deserve Pardon’
APC chieftain, Joe Igbokwe, has urged the Federal Government not to release IPOB leader, Nnamdi Kanu, insisting he does not...
BREAKING: Venezuela’s Opposition Leader Maria Corina Machado Wins 2025 Nobel Peace Prize, Trump Misses Out
Venezuelan opposition leader Maria Corina Machado has won the 2025 Nobel Peace Prize for her fight to restore democracy in...
Why I Chose Prof. Joash Amupitan as INEC Chairman – Tinubu
President Bola Tinubu has explained that his choice of Professor Joash Amupitan (SAN) as the new INEC Chairman was based...
FG Gives Fresh Update on Ongoing Negotiation with ASUU
The Federal Government says negotiations with ASUU are making steady progress, with a counteroffer expected soon.
Meet the New INEC Chairman, Prof. Joash Amupitan: All You Need to Know
President Bola Tinubu has nominated Prof. Joash Ojo Amupitan (SAN), a seasoned law scholar from Kogi State, as the new...
BREAKING: Council of State Backs Tinubu’s Nominee, Prof. Amupitan, as New INEC Chairman
The Council of State has approved President Tinubu’s nomination of Prof. Joash Amupitan (SAN) as INEC Chairman, pending Senate confirmation.
Emefiele’s Fraud Trial Stalls as Defence, EFCC Clash Over Forensic Access to iPhone Evidence
The fraud trial of former CBN Governor Godwin Emefiele stalled in Lagos after his lawyers accused the EFCC of blocking...
BREAKING: Tinubu Seeks National Assembly Approval to Borrow Fresh $2.35bn
President Bola Tinubu has asked the National Assembly to approve a fresh $2.35 billion external loan...