CBN Bans Importation Of Maize

This is part of efforts by the CBN to restart the economy devastated by the COVID-19 pandemic and protect local farmers.

The Nigerian Central Bank Governor, Godwin Emefiele / Photo credit: dailypost.ng
The Nigerian Central Bank Governor, Godwin Emefiele / Photo credit: dailypost.ng

The Central Bank of Nigeria (CBN) has added maize to the list of items banned from being imported into the country.

The CBN said in a circular on Monday that it would no longer process Forms M needed for the importation of maize into the country.

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This is part of efforts by the CBN to restart the economy devastated by the COVID-19 pandemic and protect local farmers.

The CBN had in the past made similar efforts, denying access to foreign currencies for the importation of certain items, which has included rice, milk and other livestock and agricultural products.

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The circular, signed by the CBN’s director of trade and exchange, O. S. Nnaji, directed all authorised dealers to submit the list of Forms M already registered for the importation of maize/corn using a designated format on or before the close of business on Wednesday, July 15, 2020.

Written by The Interview Editors

The Interview is a niche publication, targeting leaders and aspiring leaders in business, politics, entertainment, sports, arts, the professions and others within society’s upper middle class and high-end segment in Nigeria.

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