Nigeria ‘s central bank is warning against any attempt to lift ban on the importation of some 41 items into Nigeria.
The West African country about three years ago banned 41 items that it says can be produced locally.
The Governor of the central bank, Godwin Emefiele says the ban and other measures have helped to promote the recovery that got Nigeria out of recession.
He warned that any attempt to reverse the policy could negatively affect economic growth in the country, particularly in diversifying the Nigerian economy.
Emefiele says the bank will also work at exposing and sanctioning any bank, company or Foreign Exchange operator that colludes with individuals or companies to undermine the policy on 41 items.
Some of the items under restriction are Rice, Cement, Margarine, Palm kernel/Palm oil products/vegetables oils, Meat and processed meat products.
The rest include vegetables and processed vegetable products, Poultry chicken, eggs, turkey, Private airplanes/jets, Indian incense and tinned fish in sauce(Geisha)/sardines.
Cold rolled steel sheets, Galvanized steel sheets, Roofing sheets, Wheelbarrows, Head pans, Metal boxes and containers were among some of the items banned.
The central bank says as at October 2018, over 2.5 million jobs had been created across the country due to the ban.
Source: Africafeeds.com
