CBN Restricts FX For Milk and Dairy Products Importation; Exempts Nestle and 5 Others

Tuesday, February 11, 2020   /12:30 PM  / By CBN / Header Image Credit:  Tekedia

As part of efforts to increase local production of milk, its derivatives and dairy products, the Central Bank of Nigeria has engaged with some companies in the industry who have keyed into the Bank's backward integration program to enhance their capacity and improve local milk production.

Accordingly, all Authorised Dealers are to note that all Forms 'M', for the importation of milk and its derivatives shall only be allowed for the following companies:

1. FrieslandCampina WAMCO Nigeria

2. Chi Limited

3. TG Arla Dairy Products Limited

4. Promasidor Nigeria Limited

S. Nestle Nigeria PLC (MSK only)

6. Integrated Dairies Limited

For the avoidance of doubt, all established Forms 'M', for the importation of milk and its derivatives for companies other than the above for which shipment has not taken place should be cancelled immediately.

Please ensure strict compliance.

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