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Tuesday, May 2, 2017

[New post] FG to lift ban on restricted import list

anonymous informant     6:24 PM    

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In apparent acceptance of the criticisms trailing Nigerian government's ban of some 41 import items from coming into the country, a new move is being made to reverse the policy.

Presidency sources said Vice President Yemi Osinbajo had on Tuesday given the indication, after a closed door meeting with key officials of the Ministry of Trade and Commerce and Investment as well as the Central Bank of Nigeria (CBN), giving assurance that there will be a revisit of the list.
The CBN has been under intensive pressure from interest groups on the need to lift the ban, especially since there has been a relief from the foreign currency market since the first quarter of 2017 following its weekly pumping of dollars to the market.
But currently, the list of 41 import items, described by importers as controversial could not get hard currency from the CBN.


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