THE Central Bank of Nigeria (CBN) has reiterated that the 43 non-eligible items remain banned from accessing foreign exchange (forex).
The CBN said in a document, ‘Understanding the Operational Changes to the Foreign Exchange Market’, released on Friday, June 16.
SEE ALSO: CBN unbans 43 items restricted from accessing FX
Following the unification of the exchange rate, CBN had, through the document, attempted to answer some questions, including whether the 43 non-eligible items would have access to forex at the investors’ and exporters’ window.
The apex bank said, “The status quo remains on the 43 non-eligible items. The items are not permitted to be funded from the I & E window.”
Godwin Emefiele, who President Bola Tinubu, on June 9, suspended as CBN governor and has since then been in the custody of the Department of State Services (DSS), introduced the ban on the 43 items.
To sustain the stability of the naira and ensure the efficient utilisation of forex, the CBN, in June 2015, excluded importers of 41 items from accessing forex at the exchange markets to encourage local production and modified the list subsequently.
Here is the list of the 43 non-eligible items banned from accessing forex by CBN
- Rice
- Cement
- Margarine
- Palm kernel/palm oil products/vegetable 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
- Galvanised 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 bars
- Wire mesh
- Steel nails
- Security and razor wire
- Wood particle boards and panels
- Wood fibre boards and panels
- Plywood boards and panels
- Wooden doors
- Furniture
- 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 paste
- Eurobond/foreign currency bond/ share purchases
- Dairy/milk
- Maize