In a major rescinding of previous decision, Central Bank of Nigeria (CBN) on Thursday lifted forex ban on importers 43 items barred on 2015 from accessing forex from Nigerian Foreign Exchange Market.
With new policy reversal, importers of banned 43 items are now allowed to purchase foreign exchange in the Nigerian Foreign Exchange Market. This was, as the renewed her commitment to deal with challenges that trail forex trading.
To this end, CBN assured Nigerians and other stakeholders of commitment to accelerate efforts to clear the FX backlog with existing participants and pledged to sustain dialogue with stakeholders to address the issue.
To ensure price stability, the CBN promised to boost liquidity in the Nigerian foreign exchange market by interventions from time to time, with assurance that as market liquidityimproves, CBN interventions will gradually decrease.
