Following the unification of the exchange rate, Nigeria Central Bank (CBN) had, through its "Understanding the Operational Changes to the Foreign Exchange Market" document yesterday, confirmed that the 43 banned items policy remains; thus all the items in that list will not be eligible for forex in the country Investors & Exporters window.
To sustain the stability of the Naira and ensure efficient utilization of forex, the CBN im June 2015 excluded importers of 43 items from accessing forex at the exchange markets to encourage local production.
Here is the list of the 43 non-eligible items banned from accessing forex by CBN
- Rice
- Cement
- Margarine
- Palm kernel/palm oil products/vegetable oils
- Meat and processed meat products
- Vegetables and processed vegetable products
- Poultry – chicken, eggs, turkey
- Private airplanes/jets
- Indian incense
- Tinned fish in sauce (geisha)/sardines
- Cold-rolled steel sheets
- Galvanized steel sheets
- Roofing sheets
- Wheelbarrows
- Head pans
- Metal boxes and containers
- Enamelware
- Steel drums
- Steel pipes
- Wire rods (deformed and not deformed)
- Iron rods and reinforcing bars
- Wire mesh
- Steel nails
- Security and razor wire
- Wood particle boards and panels
- Wood fiber boards and panels
- Plywood boards and panels
- Wooden doors
- Furniture
- Toothpicks
- Glass and Glassware
- Kitchen utensils
- Tableware
- Tiles – vitrified and ceramic
- Textiles
- Woven fabrics
- Clothes
- Plastic and rubber products, polypropylene granules, cellophane wrappers
- Soap and cosmetics
- Tomatoes/tomato paste
- Eurobond/foreign currency bond/ share purchases
- Dairy/milk
- Maize
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