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FULL LIST: Rice, cement, toothpicks… CBN lifts FX ban on 43 items

FULL LIST: Rice, cement, toothpicks… CBN lifts FX ban on 43 items
October 12
20:46 2023

The Central Bank of Nigeria (CBN), on Thursday, announced the lifting of the ban on 43 items previously restricted from accessing foreign exchange (forex) from the investor’s and exporters’ (I&E) window.

In 2015, the CBN initially restricted 41 items from accessing FX from the I&E window, the country’s official market.

By implication, importers of the commodities were forced to source for FX at the black market often at higher rates.

The apex bank later added two more items to the list in 2018 and 2020, respectively.

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In a statement on Thursday, the CBN said importers of the items are now allowed to purchase foreign exchange in the official market.

 Here’s the full list of the 43 items.

  1. Rice
  2. Cement
  3. Margarine
  4. Palm kernel/palm oil products/vegetable oils
  5. Meat and processed meat products
  6. Vegetables and processed vegetable products
  7. Poultry chicken, eggs, turkey
  8. Private airplanes/jets
  9. Indian incense
  10. Tinned fish in sauce (geisha)/sardines
  11. Cold rolled steel sheets
  12. Galvanised steel sheets
  13. Roofing sheets
  14. Wheelbarrows
  15. Head pans
  16. Metal boxes and containers
  17. Enamelware
  18. Steel drums
  19. Steel pipes
  20. Wire rods (deformed and not deformed)
  21. Iron rods and reinforcing bars
  22. Wire mesh
  23. Steel nails
  24. Security and razor wire
  25. Wood particle boards and panels
  26. Wood fiber boards and panels
  27. Plywood boards and panels
  28. Wooden doors
  29. Furniture
  30. Toothpicks
  31. Glass and glassware
  32. Kitchen utensils
  33. Tableware
  34. Tiles – vitrified and ceramic
  35. Textiles
  36. Woven fabrics
  37. Clothes
  38. Plastic and rubber products, cellophane wrappers
  39. Soap and cosmetics
  40. Tomatoes/tomato pastes
  41. Euro bond/foreign currency bond/share purchases
  42. Maize/corn
  43. Fertiliser

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