CBN Bans Forex For Maize Importation

July 14, 2020
11 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

‘We want to come back home’ – Stranded Nigerians in Saudi Arabia cry out to Buhari [VIDEO]
News
1 views
News
1 views

‘We want to come back home’ – Stranded Nigerians in Saudi Arabia cry out to Buhari [VIDEO]

admin - August 5, 2020

A Nigerian lady in a viral video has called on the Nigerian government to save her and other women stranded…

Rivers: Wike removes JAAC accounts from banks, gives reason
News
News

Rivers: Wike removes JAAC accounts from banks, gives reason

admin - August 5, 2020

Governor Nyesom Ezenwo Wike of Rivers State has directed the removal of Joint Account Allocation Committee, JAAC, from banks that…

BBNaija 2020: Dorathy, Nengi, Kidwwaya, Team B housmates win N2m each
Entertainment
Entertainment

BBNaija 2020: Dorathy, Nengi, Kidwwaya, Team B housmates win N2m each

admin - August 5, 2020

Big Brother Naija, BBNaija housemates in Team B have won the sum of two million naira. The housemates were divided…

Leave a Comment

Your email address will not be published.