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Nairaland Forum / Nairaland / General / Business / CBN Unveils 36 Items Approves For Forex (15863 Views)
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CBN Unveils 36 Items Approves For Forex by mzirawo: 5:58am On May 25, 2017 |
CBN Unveils 36 Items Approves for Forex source: http://www.eyesoflagos.com/2017/05/cbn-unveils-36-items-approves-for-forex.html CBN Unveils 36 Items Approves for Forex EYES OF LAGOS TV 9:49 PM BUSINESS The Central Bank of Nigeria (CBN) has come out with 36 items considered valid for foreign exchange access. In a circular dated May 17, 2017, signed by the director, Trade and Exchange Department of CBN, W. D. Gotring, the bank said it was in response to the misconception emanating from the recent circular on items valid for forex allocation, stressing that the 41 items remained banned. But stakeholders affected by the policy have reacted to the bank’s decision. Manufacturers Association of Nigeria (MAN) said the concession by CBN for 36 items now included for foreign exchange would further lift the manufacturing sector out of the present economic doldrums. Reacting to CBN’s list of 36 items valid for access to foreign exchange in the foreign exchange market by the apex bank, the MAN president, Frank Jacobs, who spoke with EYES OF LAGOS ,said that though the association was yet to get the details on the list, it was commendable. “It is a step in the right direction, bearing in mind that those companies that have invested in the country, but could not produce due to lack of raw materials, can now get raw materials and commence production,” he said. The MAN president said the lift of restriction on those items may not be unconnected with several representations the association has made to CBN on the need to reconsider its position on the restriction placed on 41 items. He said MAN had broken down the list to 95, out of which it had made case for 42 items, noting that the 36 must have been out of the 42 banned items. “Information we are getting now is that only 36 items have been released; we are yet to get clarification. But those items must have been those not available because we do not have the capacity to produce them.” The CBN had in a circular to all banks and the general public, explained that the list of the 36 items valid was released to clarify misconceptions about details of the 41 items banned from accessing dollars in the foreign exchange market. 1 Like 1 Share
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Re: CBN Unveils 36 Items Approves For Forex by Miles300: 6:22am On May 25, 2017 |
How does it affect the fx rates ? 1 Like |
Re: CBN Unveils 36 Items Approves For Forex by orjikuramo(m): 7:40am On May 25, 2017 |
Go on, itzokay but y arn't the items listed? 1 Like |
Re: CBN Unveils 36 Items Approves For Forex by BoleynDynaSTY(f): 7:43am On May 25, 2017 |
Where are the items? 24 Likes |
Re: CBN Unveils 36 Items Approves For Forex by smartty68(m): 7:43am On May 25, 2017 |
Is anyone not tired of listening to this crap as I am already From one senseless strategies to another, yet non works 6 Likes |
Re: CBN Unveils 36 Items Approves For Forex by Lilaex: 7:43am On May 25, 2017 |
Re: CBN Unveils 36 Items Approves For Forex by Johnbosco1: 7:43am On May 25, 2017 |
Nigeria with strategic plans and no positive change....mtcheeeew 5 Likes |
Re: CBN Unveils 36 Items Approves For Forex by samkay3g(m): 7:44am On May 25, 2017 |
which items? 3 Likes |
Re: CBN Unveils 36 Items Approves For Forex by Liturgy(m): 7:44am On May 25, 2017 |
And what are the items; no details? |
Re: CBN Unveils 36 Items Approves For Forex by three: 7:44am On May 25, 2017 |
Who does this back and forth with FOREX favour? Clearly not me or most Nigerians Question of the day: Which rate did Buhari use to get FOREX to travel? 5 Likes |
Re: CBN Unveils 36 Items Approves For Forex by atirolu(m): 7:45am On May 25, 2017 |
Does it include imported pedestrian bridge cos our construction companies can't be trusted 7 Likes 2 Shares
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Re: CBN Unveils 36 Items Approves For Forex by Ololanla: 7:45am On May 25, 2017 |
That's a very good one. The inclusion of HS Code will prevent further misconception. |
Re: CBN Unveils 36 Items Approves For Forex by olaolulazio(m): 7:46am On May 25, 2017 |
Hiss... |
Re: CBN Unveils 36 Items Approves For Forex by mr2kay(m): 7:46am On May 25, 2017 |
Tt |
Re: CBN Unveils 36 Items Approves For Forex by ugleenerd: 7:47am On May 25, 2017 |
Na yam b d item.. ? |
Re: CBN Unveils 36 Items Approves For Forex by momodub: 7:47am On May 25, 2017 |
Seen |
Re: CBN Unveils 36 Items Approves For Forex by deepwater(f): 7:49am On May 25, 2017 |
Back and front things |
Re: CBN Unveils 36 Items Approves For Forex by nkowaputa(m): 7:49am On May 25, 2017 |
Government of confusion for confusion and in confusion confusing her people. 2 Likes |
Re: CBN Unveils 36 Items Approves For Forex by dgr8truth(m): 7:50am On May 25, 2017 |
Re: CBN Unveils 36 Items Approves For Forex by Sezua(m): 7:52am On May 25, 2017 |
I gave up on CBN when i realised. It's easier for our corrupt politicians to get forex via BTA and PTA, but to get forex for importation of raw materials and machinery na war. 1 Like |
Re: CBN Unveils 36 Items Approves For Forex by Benjom(m): 7:52am On May 25, 2017 |
Ee go better |
Re: CBN Unveils 36 Items Approves For Forex by DNA9(m): 7:52am On May 25, 2017 |
Conglomerate of confused dutch bags.. myopic slowpokes # |
Re: CBN Unveils 36 Items Approves For Forex by LionDeLeo: 7:54am On May 25, 2017 |
Abeg when are they going to increase withdrawal of foreign currencies from Naira-denominated accounts? What is $100/month for God's sake? If the excuse is the so-called round tripping, can $1k/month encourage it? 1 Like |
Re: CBN Unveils 36 Items Approves For Forex by koropotopoto: 7:56am On May 25, 2017 |
[s] LionDeLeo:[/s] 1 Like |
Re: CBN Unveils 36 Items Approves For Forex by olaezebala: 8:03am On May 25, 2017 |
thank God CONDOM is listed. |
Re: CBN Unveils 36 Items Approves For Forex by Zdoh(m): 8:04am On May 25, 2017 |
Nigeria do not and can never have the capacity to ptoduce certain items until we started importing technically.Why not state the items as soon as possible? some of us need to know. I wish myself HAPPY BIRTHDAY Nairalander oya show some love... 3 Likes |
Re: CBN Unveils 36 Items Approves For Forex by maleeks(m): 8:05am On May 25, 2017 |
mzirawo: |
Re: CBN Unveils 36 Items Approves For Forex by conscienceman4(m): 8:06am On May 25, 2017 |
mzirawo: Senseless and cluefull APC government. Wouldn't it have been wise if you had taken stock of the things that can be locally source for and those we can't source for locally before forcefully driving the economy into recession, because what what an ordinary WAEC economics certificate holder can solve, those that claimed to be London trained could not do. Senseless and cluefull APC usurpers. 1 Like |
Re: CBN Unveils 36 Items Approves For Forex by LagosismyHome(f): 8:15am On May 25, 2017 |
An article about 36 but no mention of what the 36 items are Hummmm inbetween pointless or clueless in informing others 1 Like |
Re: CBN Unveils 36 Items Approves For Forex by toastedbread: 8:19am On May 25, 2017 |
later they'll come and say they never removed any item from the banned list. why play dice with the economy? |
Re: CBN Unveils 36 Items Approves For Forex by agitator: 8:29am On May 25, 2017 |
conscienceman4: bros, they always take crap action for the APC pettifoggers to massttubbbate. |
Re: CBN Unveils 36 Items Approves For Forex by teemy(m): 8:37am On May 25, 2017 |
Miles300:importers of the banned items source dollars at the black market rate creating higher demand and thus higher price. this would reduce pressure on the dollar and rates fall |
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