Business
CBN bans forex for maize importation
TRACKING___Banks have been directed to stop processing Forms M for the importation of maize with immediate effect.
The Central Bank of Nigeria (CBN) who made the order on Monday July 13, said the decision to ban forex for maize importation was made to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods.
The apex bank further stated that the decision will would increase jobs which have been lost as a result of the ongoing COVID-19 pandemic.
The statement partly read;
“Authorised dealers are hereby directed to discontinue the processing of Forms M for the importation of maize/corn with immediate effect.
“Accordingly, all authorised dealers are hereby requested to submit the list of Forms M already registered for the importation of maize/corn on or before the close of business on Wednesday, July 15, 2020.”
-
Gist4 days ago
My Boss Used To ‘KNACK’ My Wife After Sending Me On A Mission, To The Extent She Got… – Ex-soldier
-
News3 days ago
Cooking Gas Price Has Fallen
-
News5 days ago
Fake Reverend Sister Arrested With 38 Children
-
Politics4 days ago
Revealed: What Access Bank Said About Its Dealings With Yahaya Bello
-
News3 days ago
Read How Auxiliary Was Whisked Away By Masked Security Agents as Family member Speaks
-
Sports2 days ago
Finidi agrees deal with NFF, names three foreign assistants
-
Politics2 days ago
Atiku Says Tinubu’s Son Is A Director In Company Related To Coastal Road Contract
-
News3 days ago
Governor Diri Hails FG Over Siting of Oil and Gas Institute in Bayelsa