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LequteMan
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Nigeria - Severe punishments and sanctions await any bank or bureaux de change that supplies foreign exchange to importers of the 40 restricted goods, CBN governor, Mr Godwin Emefiele, has announced yesterday.
Read: CBN Stops Sale of Forex for 40 Items [SEE LIST]
Speaking at a press conference in Abuja, Emefiele said that the CBN recognised that it does not have the power to outrightly ban the importation of the items listed “but what we have done is to simply say that the Central Bank of Nigeria cannot continue to support the importation of these items using Nigeria’s hard-earned Foreign Exchange.
“Even if it is one dollar that we spend importing toothpick, it is shameful that we have to import it. It shameful for us to import fish in sauce and sardines into the country. It is shameful that before I was born palm kernel was taken out of this country to another country and today we go to that same country to import palm oil. It is shameful that we are now importing items that we used to produce in the country and it has to stop.” he added.
Culled from Leadership
Read: CBN Stops Sale of Forex for 40 Items [SEE LIST]
Speaking at a press conference in Abuja, Emefiele said that the CBN recognised that it does not have the power to outrightly ban the importation of the items listed “but what we have done is to simply say that the Central Bank of Nigeria cannot continue to support the importation of these items using Nigeria’s hard-earned Foreign Exchange.
“Even if it is one dollar that we spend importing toothpick, it is shameful that we have to import it. It shameful for us to import fish in sauce and sardines into the country. It is shameful that before I was born palm kernel was taken out of this country to another country and today we go to that same country to import palm oil. It is shameful that we are now importing items that we used to produce in the country and it has to stop.” he added.
Culled from Leadership
