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CBN Lifts Forex Ban On Toothpicks And 47 Other Items - Business - Nairaland

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CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Adesiji77: 5:15pm On May 04, 2017
Nairametrics. In yet another step towards a deregulation of the foreign exchange market, the Central Bank of Nigeria (CBN), has removed the 48 items from the banned list. This seems to be a prelude to a full deregulation of the foreign exchange market. In 2015, 48 items were banned including toothpicks, private jets and palm oil. Here is what we know about the just issued circular:

Importers of the items that were previously banned, will now be allocated $20,000 a quarter.
The importers will be required to provide Form Q.
Applicants for the foreign exchange would be required to have been account holders for at least six months.
Foreign account bank transfer details will be provided along with an invoice.

http://nairametrics.com/cbn-reverses-ban-on-48-items/
Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by LionDeLeo: 5:19pm On May 04, 2017
Not good actually.

Items with indigenous substitutes should remain banned.

Employment generation things.

My thought though.

Imagine, lifting this ban after some individuals have committed some resources into agriculture.

65 Likes 7 Shares

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Caustics: 5:39pm On May 04, 2017


Importers of the items that were previously banned, will now be allocated $20,000 a quarter.
How does one apply to collect this $20000 a quarter? I am highly interested

3 Likes

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Lukmann1: 5:43pm On May 04, 2017
Forex today, forex tomorrow, while buhari is stil on ill bed.

1 Like 1 Share

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by martyns303(m): 5:44pm On May 04, 2017
Who's the clueless one now, thought they said Jonathan was a slowpoke for signing the importation of toothpicks, even when the man said he wasn't aware of the content.

I guess bubu is too sick to have reviewed the content.

56 Likes 4 Shares

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Nobody: 5:44pm On May 04, 2017
I wonder y they got tired so quick........they shouldn't av banned them in d first place.

7 Likes 1 Share

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by gurunlocker: 5:44pm On May 04, 2017
We are not ready yet to develop as a country..... One step forward, five steps backward.

48 Likes 5 Shares

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Oildichotomy(m): 5:44pm On May 04, 2017
Smart people knew the forex ban policy was not sustainable. I received a message from one of the Banks regarding this forex allocation crap.

This is a country that infrastructures sucks and cost of doing business is still over the top and they think banning will automatically translate to production.

Let's fix the basics and the banning soiree can start.

22 Likes 1 Share

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Antoeni(m): 5:45pm On May 04, 2017
CBN may una go baff,is tooth pick ur problem,

3 Likes 1 Share

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by SafeDavid(m): 5:45pm On May 04, 2017
The CBN should focus more on recouping all the dollar$ looters hid in various apartments, freezers, farms and burial grounds rather than squeezing us of the meagure hard currency we spend.

1 Like

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Nobody: 5:45pm On May 04, 2017
Lift ban on ordinary toothpick? Seems Buhari's illness has been transmitted to Emefiele

6 Likes 2 Shares

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by sapientia(m): 5:45pm On May 04, 2017
Toothpicks of all things..

Without even checking to see if why they were banned initially has been solved.

Am tired abeg..

2 Likes 1 Share

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Atiku2019: 5:45pm On May 04, 2017
Osinbajo wink

3 Likes 1 Share

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by rozayx5(m): 5:45pm On May 04, 2017
gurunlocker:
We are not ready yet to develop as a country..... One step forward, five steps backward.

you took the words from my mouth

Nigeria was just one great britain experiment that will never work

11 Likes

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by modelmike7(m): 5:45pm On May 04, 2017
Hunmm!!?

1 Like 1 Share

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Nobody: 5:46pm On May 04, 2017
silly news.

It should have read CBN lifts IMPORTATION ban on toothpicks, 47 others.

The ban was on importation to protect the Naira and not directly on forex. Besides, this does not have anything to do with forex deregulation.

Poor reporting.

3 Likes

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by imsuboi(m): 5:46pm On May 04, 2017
LOOOOOOOOOOOOOOOOOOOOOOOL.

and some people say this administration has a plan?
buhari is the epitome of confusion, mental _retardation, backwardness and stvpidity.


Now who's the ineffectual buffon? grin

39 Likes 4 Shares

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by JohnXcel: 5:46pm On May 04, 2017
So you want to tell me we can't produce our own ''toothpicks'' undecided

SMH!

1 Like 1 Share

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by KingOvoramwen1(m): 5:46pm On May 04, 2017
Mtn data Awoof is back ..... I just collect 12gig
Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Splashme: 5:47pm On May 04, 2017
So, where is that gorilla from Ota Farm? What does he have to say?

I remember how Obasanjo insulted GEJ for allowing importation of toothpick

The man enjoys seizing every opportunity to insult GEJ.

Honestly, Jonathan is too humble for allowing Obasanjo to continue abusing him gleefully at every available opportunity. People will say seniority, but what sort of seniority is that? An old man that is refusing to respect himself.

28 Likes 4 Shares

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Splashme: 5:47pm On May 04, 2017
Re
Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by CarlosTheJackal: 5:47pm On May 04, 2017
An unserious government with flip flop policies

3 Likes

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by CarlosTheJackal: 5:47pm On May 04, 2017
An unserious government with flip flop policies.

3 Likes

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by chuksjuve(m): 5:48pm On May 04, 2017
Happy lifting

1 Like

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by eledalo: 5:48pm On May 04, 2017
Back and forth. Consistency in policy is key

3 Likes

Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by Chiefpriest1(m): 5:49pm On May 04, 2017
Maka why?
Re: CBN Lifts Forex Ban On Toothpicks And 47 Other Items by deebsman1(m): 5:50pm On May 04, 2017
Solution coming too late! Please why the policy in d first place? Policy somersault like someone above me said? Honestly all dis taking 1 step forward 2 steps backwards is what has been killing us as a country for many years and we don't seem to understand. Either good or bad, we need to learn how to make a policy and stick to it all thru, it's so sad we ain't ready to move forward as a nation.


Now that prices of consumer products have skyrocketed up, are they going to come down back? Giving d greedy set of human beings we are. Assuming its in a country where there is a functional consumer pricing check agency now, it would have been beta

2 Likes

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