CBN's 41 'Not Valid for FOREX' Items & Their Sectoral Impacts

Forex
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Wednesday July 22, 2015 / 09.57am /Proshare Research


The Central Bank of Nigeria in June 2015 excluded importers of 41 goods and services from accessing foreign exchange at the Nigerian foreign exchange markets in order to encourage local production of these items.


This action by CBN was taken in its efforts to sustain foreign exchange market stability and ensure the efficient utilization of foreign exchange as well as ensuring that optimum benefit is derived from goods and services imported into the country.


The affected 41 Items are listed below along with their economic sectors, GDP Size, a few companies operating in the sectors and their contributions to GDP in 2014 and Q1 2015 with data supplied by the National Bureau of Statistics, Abuja Nigeria (NBS).



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