CBN Lifts Ban on 43 Items after 8 Years

CBN Lifts Ban on 43 Items after 8 Years

The Central Bank of Nigeria has finally lifted the foreign exchange restrictions it placed on importers of 43 items eight years ago.

This was contained in a statement signed by CBN’s Director of Corporate Communications, Dr. Isa AbdulMumin where the bank said tit is a significant change to the foreign exchange market policy.

According to the central 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.

See List of items below:

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

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