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CBN opens special forex window for Small enterprises
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CBN opens special forex window for Small enterprises

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Image result for CBN opens special forex window for Small enterprisesThe Central Bank of Nigeria on Monday said it had opened a special foreign exchange window for Small and Medium Enterprises.

The window would enable such businesses to import  finished and semi-finished items not exceeding $20,000  per quarter.

The Acting Director, Corporate Communications of the CBN, Isaac Okorafor,said the special intervention was necessitated by its findings that a large number of the SMEs were being crowded out of the forex space by large firms.

Okorafor said under the special arrangement,enterprises with staff strength of between 10 and 199 and asset base of between N5m and N500m would be offered the opportunity.

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