Jul 22, · CBN Warns Authorized Dealers Against Funding Items Classified as “Not Valid for Forex” – Jul 01, 3. CBN Includes Furnitures in Imported Goods and Services Classified as Invalid for Nigerian Forex Market – Jun 24, 4 1 day ago · The Central Bank of Nigeria (CBN) has lifted the restriction on 41 items listed as ineligible for foreign exchange, with a condition. “Importers of items classified as not valid for forex with Jun 15, · Therefore, the CBN will also offer long term forex futures and sales of forex forwards for end users must be trade-backed as well as introduce non-deliverable OTC forex settled trades to help moderate blogger.comted Reading Time: 1 min
CBN's 41 'Not Valid for FOREX' Items & Their Sectoral Impacts
The importers of the following CBN 41 items have since cbn policy on non valid for forex June, been discontinued from cbn policy on non valid for forex foreign exchange at the Nigerian foreign exchange markets, cbn policy on non valid for forex. The purpose is noble, that of allowing local production of these items to thrive.
It has become imperative to exclude Importers of some goods and services from accessing foreign exchange at the Nigerian foreign exchange markets in order to encourage local production of these items.
The implementation of the policy will help conserve foreign reserves as well as facilitate the resuscitation of domestic industries and improve employment generation. To answer this question, let me first of all drop what I call free gift for you. However, such operators must present certificate from the Downstream Petroleum Resources DPR. The DPR certificate shows certification as an operator of the Oil and Gas industry at the Form M application stage.
Read Also : Contact Us. What if you are not an operator of the oil and gas, does it mean that the above items are automatically out of reach for your importation? No is the answer. In this situation, the following steps will see you through:. Read Also : FORM M NIGERIA: HOW TO PROCESS AND OBTAIN IT.
Application for CBN Approval Letter to Import Items in the Attached Pro forma Invoice Number — Vaga with initiated Form M Number — MFxxxxxx. Our source of funds is from genuine business proceeds, devoid of any corrupt practices. Thus, it is from this proceeds that we hope to get foreign currency from the parallel market. CBN approval letter is needed to complete Form M process for listed 41 items. Oil and Gas Services and operators are exempt from this restriction.
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Why can't we just print money to pay off debt?
, time: 10:09CBN Lifts Forex Ban On Ineligible 41 Items - The Street Journal
Jun 15, · Therefore, the CBN will also offer long term forex futures and sales of forex forwards for end users must be trade-backed as well as introduce non-deliverable OTC forex settled trades to help moderate blogger.comted Reading Time: 1 min May 03, · cbn 41 items: reason for restriction on forex In the circular referenced TED/ FEN/ FPC/ GEN/0 1/ dated 3 June , the CBN explains: “In the continuing effort to sustain the stability of the foreign exchange market and ensure the efficient utilisation of foreign exchange and the derivation of optimum benefit from goods and services Reviews: 6 Jul 22, · CBN Warns Authorized Dealers Against Funding Items Classified as “Not Valid for Forex” – Jul 01, 3. CBN Includes Furnitures in Imported Goods and Services Classified as Invalid for Nigerian Forex Market – Jun 24, 4
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