No Forex for Importers of Maize, Says CBN
The Central Bank of Nigeria (CBN) Monday in a circular told dealers of foreign exchange to end processing of Form M for importation of maize into the country.
The circular which was signed by the Director, Trade and Exchange Department, CBN, Dr O.S. Nnaji and titled ‘Importation of maize/corn’, said the measure was to encourage local production of the grain.
Part of the circular reads: “As part of efforts by the Central Bank of Nigeria to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods and increase jobs, which were lost as a result of the ongoing COVID-19 pandemic, 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 using the attached format on or before the 2020. 15, July Wednesday close of business on”
The circular which was signed by the Director, Trade and Exchange Department, CBN, Dr O.S. Nnaji and titled ‘Importation of maize/corn’, said the measure was to encourage local production of the grain.
Part of the circular reads: “As part of efforts by the Central Bank of Nigeria to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods and increase jobs, which were lost as a result of the ongoing COVID-19 pandemic, 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 using the attached format on or before the 2020. 15, July Wednesday close of business on”
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