The Central Bank of Nigeria (CBN) has clarified that the 43 items which were restricted from accessing Foreign Exchange from the official window remain banned from the Import and export window.
The apex bank made the clarification in a series of tweets on its verified social media handles
Titled, “understanding the operational changes to the foreign exchange market,” the CBN in its tweet said: “The status quo remains on the 43 non eligible items. The items are not permitted to be funded from the I and E window.”
Recall that in June 2015, the CBN in its effort to sustain the stability of the naira and ensure the efficient utilization of foreign exchange excluded importers of some goods and services from accessing foreign exchange at the Nigerian foreign exchange markets in order to encourage local production of these items.
The CBN had clarified then that the importation of these Items are not banned , thus importers desirous of importing these Items shall do so using their own funds without any recourse to the Nigerian foreign exchange markets.
The CBN gave clarity in light of the recent changes in the official window.
