CBN lifts forex ban on 43 items, vows to intervene in FX market

The announcement was contained in a statement signed by the apex bank’s Director of Corporate Communications, Isa AbdulMumin, on Thursday, October 12, 2023.

This is coming eight years after the CBN under Godwin Emefiele banned the 43 items from accessing forex exchange from the Investors and Exporters window.

The apex bank had claimed at the time that the items were not valid for foreign exchange because they could be produced in the country. The affected items include rice, cement, palm kernel, meat and processed meat products, poultry, soap, and cosmetics, among others.