CBN Bans Forex For Maize Importation

July 14, 2020
29 Views

Banks have been directed to stop processing Forms M for the importation of maize with immediate effect.

The Central Bank of Nigeria (CBN) who made the order on Monday July 13, said the decision to ban forex for maize importation was made to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods.

The apex bank further stated that the decision will would increase jobs which have been lost as a result of the ongoing COVID-19 pandemic.

The statement partly read;

“Authorised dealers are hereby directed to discontinue the processing of Forms M for the importation of maize/corn with immediate effect.

“Accordingly, all authorised dealers are hereby requested to submit the list of Forms M already registered for the importation of maize/corn on or before the close of business on Wednesday, July 15, 2020.”

Loading…

You may be interested

News

Kate Osamor, UK Parliamentarian questions her govt’s funding for…

admin - October 20, 2020

<!-- Kate Osamor, UK Parliamentarian questions her govt’s funding for SARS - ElombahNews HomeWorld NewsKate Osamor, UK Parliamentarian questions her govt’s funding…

News
1 views

Buhari sacks Nigerian Copyright Commission chairman, Jaja

admin - October 20, 2020

President Muhammadu Buhari on Monday sacked the Chairman of the Governing Board of the Nigerian Copyright Commission, Dr Tony Jaja.…

#Endsars: NHRC seeks prosecution of 35 indicted police personnel by the AGF
News
1 views
News
1 views

#Endsars: NHRC seeks prosecution of 35 indicted police personnel by the AGF

admin - October 20, 2020

Since the wind of #Endsars movemt started sweeping across the Federation of Nigeria, more especially, the Southern part of the…

Leave a Comment

Your email address will not be published.