The Central Bank of Nigeria (CBN) has lifted the forex ban on 43 items and also promised to intervene in the FX market from “time to time”.
This is according to a statement by the bank’s Director of Corporate Communications Isa AbdulMumin.
“As part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time. As market liquidity improves, these CBN interventions will gradually decrease,” the Thursday statement read.
“Importers of all the 43 items previously restricted by the 2015 Circular referenced TED/FEMFPC/GEN/O1/010 and its addendums are now allowed to purchase foreign exchange in the Nigerian Foreign Exchange Market.”
More to follow…