Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,108 members, 7,811,119 topics. Date: Sunday, 28 April 2024 at 12:18 AM

List Of 41 Imported Items CBN Ban From Forex - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / List Of 41 Imported Items CBN Ban From Forex (14506 Views)

See My Imported Items That Arrived Today - Very Cheap / FG Lifts Ban On 41 Imported Items / CBN Suspends 19 Banks From Forex Sale To BDCs (2) (3) (4)

(1) (2) (Reply) (Go Down)

List Of 41 Imported Items CBN Ban From Forex by MissEdified(f): 9:31pm On Jun 15, 2016
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.newshelm.com/2016/06/list-of-41-imported-items-cbn-ban-from.html

cc lalasticlala

5 Likes 2 Shares

Re: List Of 41 Imported Items CBN Ban From Forex by Kyase(m): 9:38pm On Jun 15, 2016
What about crude oil?
Re: List Of 41 Imported Items CBN Ban From Forex by kokoA(m): 9:45pm On Jun 15, 2016
Kyase:
What about crude oil?
Haba Bros, do we import crude oil? embarassed

7 Likes

Re: List Of 41 Imported Items CBN Ban From Forex by Kyase(m): 9:55pm On Jun 15, 2016
kokoA:
Haba Bros, do we import crude oil? embarassed
You never know?

7 Likes 1 Share

Re: List Of 41 Imported Items CBN Ban From Forex by sparrowkid: 10:28pm On Jun 15, 2016
Which one in this list that is so critical that without it Nigeria or Nigerians cannot survive? People just make a mountain out of molehill. When they were shouting Buhari banned 41 imported goods, I thought they are something that are indispensable and without substitutes. Perhaps some need to import brains to replaced the damaged one they are carrying about. SMH

16 Likes 1 Share

Re: List Of 41 Imported Items CBN Ban From Forex by 989900: 11:01pm On Jun 15, 2016
kokoA:
Haba Bros, do we import crude oil? embarassed

Ironically, Nigeria used to import 'heavy oil' from Venezuela at a time, for the Kaduna refinery, while we have huge deposits of that in Ondo and some other states.

1 Like

Re: List Of 41 Imported Items CBN Ban From Forex by 989900: 11:03pm On Jun 15, 2016
sparrowkid:
Which one in this list that is so critical that without it Nigeria or Nigerians cannot survive? People just make a mountain out of molehill. When they were shouting Buhari banned 41 imported goods, I thought they are something that are indispensable and without substitutes. Perhaps some need to import brains to replaced the damaged one they are carrying about. SMH

You are so right, I can't figure any of those 41 we should be importing in the first place . . . wheel barrow, plastic, toothpick, soap, tomato paste, . . . angry angry angry

7 Likes 1 Share

Re: List Of 41 Imported Items CBN Ban From Forex by APCHaram: 11:09pm On Jun 15, 2016
989900:


You are so right, I can't figure any of those 41 we should be importing in the first place . . . wheel barrow, plastic, toothpick, soap, tomato paste, . . . angry angry angry


Which one do you produce?

7 Likes

Re: List Of 41 Imported Items CBN Ban From Forex by RealAdewole(m): 11:18pm On Jun 15, 2016
APCHaram:


Which one do you produce?
emmm..... Emmmmm..... Bahd question



I think we produce non except graduates n ideas

1 Like

Re: List Of 41 Imported Items CBN Ban From Forex by EMMYLBANKS(m): 2:44am On Jun 16, 2016
APCHaram:


Which one do you produce?
he produce comment on nairaland

5 Likes

Re: List Of 41 Imported Items CBN Ban From Forex by thomasthomas: 3:32am On Jun 16, 2016
Y
Re: List Of 41 Imported Items CBN Ban From Forex by xelly: 5:09am On Jun 16, 2016
Kyase:

You never know?


I thought we only import PMS, AGO and DPK.
Re: List Of 41 Imported Items CBN Ban From Forex by kinggozzy(m): 5:19am On Jun 16, 2016
Good move....!bt not now.

1 Like

Re: List Of 41 Imported Items CBN Ban From Forex by dynamo77(m): 5:48am On Jun 16, 2016
Okay we don hear

Why should toothpick be imported In the first place!?

1 Like

Re: List Of 41 Imported Items CBN Ban From Forex by speaktome(m): 5:58am On Jun 16, 2016
I have an order to be exporting 500mts of uncracked palm kernel nut to India monthly...I hope there is No restriction on that.








##MySignature#Mybusiness

1 Like

Re: List Of 41 Imported Items CBN Ban From Forex by PentiumPro(f): 6:13am On Jun 16, 2016
Add frozen fish.

1 Like

Re: List Of 41 Imported Items CBN Ban From Forex by 989900: 6:25am On Jun 16, 2016
APCHaram:



Which one do you produce?

"Which one do you produce?": Thought process of a lame mind, à la a simpleton.

"why can't we produce them?": Thought process of an inquisitive and intelligent mind.

"How do we start producing them now?": Thought process of a shrewd, brilliant, and an entrepreneurial mind.

You know who you are . . .

14 Likes 1 Share

Re: List Of 41 Imported Items CBN Ban From Forex by Sweetestrose(f): 6:30am On Jun 16, 2016
Its not about making things difficult for importers and exporters with regards to foreign exchange, the real question behind this decision is: what measures has been put in place to speed up the production of some of these items for consumers satisfaction? Tomato is one surplus product in Gboko- Benue State, but because of the lackadaisical behavior of some persons that has vowed never to repair the road, it hinders transportation even to the neighbouring states. Rice has once been banned but when the production rate of the country was not in equillibrum with the consumption rate, the ban had to be lifted. They can ban all the products for all I care but the fact still remains that necessary measures should be put in place for adequate or even surplus production.

4 Likes 1 Share

Re: List Of 41 Imported Items CBN Ban From Forex by Ochinex(m): 6:32am On Jun 16, 2016
Good sha..blogging on my mind...
Chinnex..com
Re: List Of 41 Imported Items CBN Ban From Forex by APCHaram: 6:46am On Jun 16, 2016
989900:


"Which one do you produce?": Thought process of a lame mind, à la a simpleton.

"why can't we produce them?": Thought process of an inquisitive and intelligent mind.

"How do we start producing them now?": Thought process of a shrewd, brilliant, and an entrepreneurial mind.

You know who you are . . .

Rubbish

At least if you can't produce anything you can at least try to increase our forex Base by farming cocoa

Get to work you lazy Taju

4 Likes

Re: List Of 41 Imported Items CBN Ban From Forex by Nobody: 6:56am On Jun 16, 2016
sparrowkid:
Which one in this list that is so critical that without it Nigeria or Nigerians cannot survive? People just make a mountain out of molehill. When they were shouting Buhari banned 41 imported goods, I thought they are something that are indispensable and without substitutes. Perhaps some need to import brains to replaced the damaged one they are carrying about. SMH
..... You just spoke my mind Bro.
Re: List Of 41 Imported Items CBN Ban From Forex by chimah3(m): 6:57am On Jun 16, 2016
APC

Paying for ear infection treatment nko?
Re: List Of 41 Imported Items CBN Ban From Forex by cutesmilez(f): 6:58am On Jun 16, 2016
So Nigeria still import toothpick. hmmm
Re: List Of 41 Imported Items CBN Ban From Forex by 989900: 7:09am On Jun 16, 2016
APCHaram:


[s]Rubbish

At least if you can't produce anything you can at least try to increase our forex Base by farming cocoa

Get to work you lazy Taju[/s]

Says Mr. Tatterdemalion.

About Cocoa farms, the government and a few private individuals are ramping up efforts on that already.

Through inheritance and purchase, I have a few of that already for myself.

And I do not see how owning a cocoa farm stops me from investing in a plastic manufacturing company, fish farm, wheel barrow manufacturing company, tomato farm/tomato paste company, or a toothpick manufacturing company if those demands are there, and are only being satisfied by imports.

You must be so naive. I've done the hard work part for myself and my dependents -- worry about your poor little rabid mind .

2 Likes

Re: List Of 41 Imported Items CBN Ban From Forex by milky3(f): 7:17am On Jun 16, 2016
hope provisions has been made for alternative

Re: List Of 41 Imported Items CBN Ban From Forex by babydioku(f): 7:49am On Jun 16, 2016
989900:


"Which one do you produce?": Thought process of a lame mind, à la a simpleton.

"why can't we produce them?": Thought process of an inquisitive and intelligent mind.

"How do we start producing them now?": Thought process of a shrewd, brilliant, and an entrepreneurial mind.


You know who you are . . .


Ok. So which one do you produce?

1 Like 1 Share

Re: List Of 41 Imported Items CBN Ban From Forex by Dfinex(f): 7:54am On Jun 16, 2016
speaktome:
I have an order to be exporting 500mts of uncracked palm kernel nut to India monthly...I hope there is No restriction on that.








##MySignature#Mybusiness

please how much will it cost to get a mill and is it a modern mill?

2 Likes 1 Share

Re: List Of 41 Imported Items CBN Ban From Forex by 989900: 8:02am On Jun 16, 2016
babydioku:



Ok. So which one do you produce?

Like I said, "thought process of a simpleton".

Take a look at the lady below you, she is already thinking . . . that is a smart soul.

2 Likes

Re: List Of 41 Imported Items CBN Ban From Forex by ogmask: 8:03am On Jun 16, 2016
Sweetestrose:
Its not about making things difficult for importers and exporters with regards to foreign exchange, the real question behind this decision is: what measures has been put in place to speed up the production of some of these items for consumers satisfaction? Tomato is one surplus product in Gboko- Benue State, but because of the lackadaisical behavior of some persons that has vowed never to repair the road, it hinders transportation even to the neighbouring states. Rice has once been banned but when the production rate of the country was not in equillibrum with the consumption rate, the ban had to be lifted. They can ban all the products for all I care but the fact still remains that necessary measures should be put in place for adequate or even surplus production.

Necessity is the father of invention. If these foreign items are removed from the shelves, smart Nigerians will catch in on it.
Re: List Of 41 Imported Items CBN Ban From Forex by sparrowkid: 8:07am On Jun 16, 2016
Our problem is not that we cannot produce all these items, but our attitude is hampering their production. The root cause of all our problems is that we don't love ourselves. When Tecno started, they started by pirating Nokia products. Through trial and error, they graduated to producing competitive phones. That is how it is supposed to be; but Nigerians would leave our products and go for others even if that products are dangerous to our being.

We hardly patronize what is ours. Imagine when the phone lines of ministers and legislators are released, majority of them are using MTN lines. What happens to Glo that is ours? If we all decide to use Glo lines, the company would have enough funds to upgrade their infrastructures so that they can conveniently compete with global brands. This message can start from us, take a close look at your belongings; how many of them are produced in the country? May God heal our country.

1 Like

Re: List Of 41 Imported Items CBN Ban From Forex by Nobody: 8:08am On Jun 16, 2016
No wonder rice is expensive and you hardly see made in Nigeria rice

Thanks to dangote. May be we will be buying imported cements at the rate of 5000 now
Re: List Of 41 Imported Items CBN Ban From Forex by RevDesm0ndJuju: 8:46am On Jun 16, 2016
989900:


Says Mr. Tatterdemalion.

About Cocoa farms, the government and a few private individuals are ramping up efforts on that already.

Through inheritance and purchase, I have a few of that already for myself.

And I do not see how owning a cocoa farm stops me from investing in a plastic manufacturing company, fish farm, wheel barrow manufacturing company, tomato farm/tomato paste company, or a toothpick manufacturing company if those demands are there, and are only being satisfied by imports.

You must be so naive. I've done the hard work part for myself and my dependents -- worry about your poor little rabid mind .



Story.

Better get back to your ancestral job of scratching the ground for a living

(1) (2) (Reply)

Ibaka Seaport: Akwa Ibom Buys 15,000 Hectares Of Land / US Seeks 3 Years Prison Term For Binance Founder, Changpeng Zhao / Banks: "CBN Is Choking Economy With FX Restrictions"

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 42
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.