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CBN urged to review forex restriction on 41 imported items
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CBN urged to review forex restriction on 41 imported items

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A financial expert yesterday called on the Central Bank of Nigeria (CBN) to review the foreign exchange restriction placed on 41 items imported into the country. Dr Uche Uwaleke, the Head of Banking and Finance Department, Nasarawa State University, Keffi, made the suggestion in an interview with newsmen in Lagos.

He said the review had become   important, especially those items   critical to the economic development   of the country. CBN had in July, 2015, restricted about 41 items, including vegetable oil, poultry products, cosmetics and plastic and rubber products, among others, from access to foreign exchange from its official window. The apex bank said the country has the capacity to produce those items locally. Uwaleke stated that the apex bank should , however, revisit the list of 41 items with a view to exempting a few, especially pharmaceutical items, considered critical to the health sector.

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