Central Bank of Nigeria, on Thursday, announced the restoration of the 43 items earlier banned from accessing foreign exchange (FX).
CBN made the announcement in a statement signed by its Director of Corporate Communications, Isa AbdulMumin.
The statement read, “Importers of all the 43 items previously restricted by the 2015 Circular referenced TED/FEM/FPC/GEN/01/010 and its addendums are now allowed to purchase foreign exchange in the Nigerian Foreign Exchange Market.
“The CBN reiterates that the prevailing Foreign Exchange (FX) rates should be referenced from platforms such as the CBN website, FMDQ, and other recognised or appointed trading systems to promote price discovery, transparency, and credibility in the FX rates.”
This is one of the major decisions taken by the CBN under the leadership of Dr Yemi Cardoso.
Cardoso’s predecessor, Godwin Emefiele, introduced the policy.