NIGERIA: CBN STOPS SALE OF FOREX TO IMPORTERS OF RICE, PRIVATE JETS, TEXTILES, AND 37 OTHER PRODUCTS

The Central Bank of Nigeria (CBN) has announced on Tuesday in a circular the stoppage of sales of foreign exchange to importers of rice, private jets, textiles, poultry products, tomatoe paste and 35 other items.
This is to conserve foreign reserves and facilitate the resuscitation of domestic industries as well as generate employment.
The list of 40 items includes cement, margarine, palm kernel, vegetable oil, poultry products (chicken, eggs and turkey), indian incense, tinned fish in sauce (geisha and sardine), cold rolled steel sheets, galvanised steel, roofing sheets, wheel barrows, headpans, metal boxes containers and enamelware.
Others are steel drum, steel pipes, wire mesh, steel nails, wire rods, security wire, wood particle and board, wood fibre boards and panel, wooden doors, tooth picks, glass and glassware, kitchen utensils, tableware, tiles and wooden fabrics, plastic and rubber products, soap and cosmetics.