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LequteMan
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Nigerian manufacturers have urged the Central Bank of Nigeria to relax forex policies on imported raw materials, as it's inhibiting the functioning of the manufacturing sector, Punch reports.
The Manufacturers Association of Nigeria on Tuesday said despite its acceptance of some of the new guidelines provided by the Central Bank of Nigeria on foreign exchange, there were key areas that required the bank’s consideration.
The MAN’s President, Dr. Frank Jacobs, while briefing journalists on the new twist to the policy, which came out of a meeting with the CBN, said that in reaction to the new policy guidelines, manufacturers observed that the essential raw material inputs were included in the list.
However, he said that there were areas requiring the bank and the Federal Government to have a rethink, if the overall purpose of the guidelines was to be achieved.
Click here to read full story
The Manufacturers Association of Nigeria on Tuesday said despite its acceptance of some of the new guidelines provided by the Central Bank of Nigeria on foreign exchange, there were key areas that required the bank’s consideration.
The MAN’s President, Dr. Frank Jacobs, while briefing journalists on the new twist to the policy, which came out of a meeting with the CBN, said that in reaction to the new policy guidelines, manufacturers observed that the essential raw material inputs were included in the list.
However, he said that there were areas requiring the bank and the Federal Government to have a rethink, if the overall purpose of the guidelines was to be achieved.
Click here to read full story
