The Central Bank of Nigeria (CBN) has added fertiliser among the items not eligible for foreign exchange (forex).
The apex bank’s director, trade and exchange department, Ahmed Umar made this known in a statement in which he said fertiliser was added to the list because it can no longer allocate forex for its importation into Nigeria.
The CBN which said the list of the 42 items became effective from December 7th this year, however assured all authorised dealers and the general public that all outstanding form M requests made for fertiliser before December 7 will be honoured by the bank.
THE 42 ITEMS ARE:
Palm kernel/Palm oil products/vegetables oils
Meat and processed meat products
Vegetables and processed vegetable products
Poultry chicken, eggs, turkey
Tinned fish in sauce (Geisha)/sardines
Cold rolled steel sheets
Galvanized steel sheets
Metal boxes and containers
Wire rods (deformed and not deformed)
Iron rods and reinforcing bard
Security and razor wine
Wood particle boards and panels
Wood Fibre Boards and Panels
Plywood boards and panels
Glass and Glassware
Tiles-vitrified and ceramic
Plastic and rubber products, polypropylene granules, cellophane wrappers
Soap and cosmetics
Eurobond/foreign currency bond/ share purchases