Business

CBN increases items ineligible for FOREX, adds fertiliser

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:

Rice

Cement

Margarine

Palm kernel/Palm oil products/vegetables 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 bard

Wire mesh

Steel nails

Security and razor wine

Wood particle boards and panels

Wood Fibre Boards and Panels

Plywood boards and panels

Wooden doors

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 pastes

Eurobond/foreign currency bond/ share purchases

Fertiliser

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