The Central Bank of Nigeria (CBN) recently issue a directive stopping some imported goods and services from the list of items valid for forex in the Nigerian Foreign Exchange Markets. This policy implies is that, those who import these items can no longer buy foreign currency from the official window to pay the overseas suppliers. Rather, they will have to source forex from the parallel market or Bureau De Change to pay for their imports.

The items include the following:

Rice
Cement
Margarine
Palm kernel/Palm oil products/vegetables oils
Meat and processed meat products
Vegetables and processed vegetable products
Poultry chicken, eggs, turkey
Private airplanes/jets
Indian incense
Tinned fish in sauce(Geisha)/sardines
Cold rolled steel sheets
Galvanized steel sheets
Roofing sheets
Wheelbarrows
Head pans
Metal boxes and containers
Enamelware
Steel drums
Steel pipes
Wire rods(deformed and not deformed)
Iron rods and reinforcing bard
Wire mesh
Steel nails
Security and razor wine
Wood particle boards and panels
Wood Fibre Boards and Panels
Plywood boards and panels
Wooden doors
Toothpicks
Glass and Glassware
Kitchen utensils
Tableware
Tiles-vitrified and ceramic
Textiles
Woven fabrics
Clothes
Plastic and rubber products, polypropylene granules , cellophane wrappers
Soap and cosmetics
Tomatoes/tomato pastes
Eurobond/foreign currency bond/ share purchases
It is important to emphasize that the importation of these items are not prohibited or banned. It only means that importers of these items are no longer qualified to get foreign exchange from the CBN or the official market to buy these items from overseas.

http://www.newsheadlines.com.ng/latest-business/2015/08/12/list-of-40-imported-items-cbn-ban-from-forex/

Considering its ripple effect on the economy, I'd say well done and weldone!

By the way, I don't know if lalasticlala would think this informative enough for importers on the frontpage but I dedicate this space to users of this pure definition of a stylish aura... Lalique!

Check my signature

Thank you for sharing

Fellow Nairalanders, please check out our incredible offer below

Am sure the only thing we dont import in Nigeria is citizenship. Our politicians, profs, royal fathers are all imported. So its not surprising we are importing meat, fish, tootpick, even peppe and tomatoes.... Meanwhile the poster above me stole my portion, meet me in the supreme court, im suing you for unlawful possession

hmmmm

Good move.

.

It's alright

diz country sef na everything dem must import Nigerians sef

Nawa o . God help us

Beta

wunmi590:
.

you again

Tipper railway head

Ok

Ruler, pencil , crayon and imagine plates


Bottled water .... Pawn crackers

toothpick holy shit

Buhari wants to destroy this country!

Them dey import Vegetables again!!!!

It's okay.

Great

The following must be added:

1. Importation of Bibles
2. Importation of Korans
3. Importation of foreign condoms
4. Importation of foreign wrist-watches
5. Importation of Sim cards
6. Importation of foreign online blogs
7. Importation of mexican, indian and american soaps
8. Importation of foreign consultants
9. Importation of petroleum products
10.Importation of labels for tinned products

Sai Buhari

hmm, we are even importing common tootpick, how will the naira have value when we import nearly 90percent of what we use in our day to day activities.

correct

Why are people shouting welcome development? Do they know the implication of this policy to the common man?

So Naija still dey import toothpicks, wooden doors when we dey produce timber. Oyel money don really cause laziness.

To avoid rushing into conclusions, what is the aim? Does it increase the value of Naira?

Hmm mm. The change is really taking effect!!

Good move but should be COMPLEMENTED with very high import duty tariff to aggressively promote local production and create EMPLOYMENT.

'steel nails'

Abi plastic nails dey before

Mke I ask Zimbabwean soldier Weda we So still import.

Ok

Lemme check the list

Modified: Let an economist explain the implication maybe it's positive or negative

Welcome development....

na them sabi.m..