Tag: Forex Restriction
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Milk Import: CBN Exempts Friesland, Nestle, four Others from Forex Restriction
The Central Bank of Nigeria (CBN) has exempted FrieslandCampina WAMCO Plc, Nestle Nigeria Plc and four other milk producing companies from the foreign exchange (forex) restriction it earlier placed on them on the importation of the product into the country. In a circular signed by the CBN Director, Trade and Exchange Department, Mr O.S. Nnaji,…
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CBN to impose forex restriction on milk import
The Central Bank of Nigeria (CBN) has said it will place foreign exchange (forex) restrictions on milk importers into the country. Addressing reporters at the end of the bi-monthly Monetary Policy Committee (MPC) meeting in Abuja yesterday, CBN Governor, Godwin Emefiele lamented that between $1.2 billion and $1.5 billion are spent yearly to import milk…