Nigeria: CBN - We May Cut Forex Support On Rice Importation, Others

28 January 2015

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has revealed plans by the bank to stop foreign exchange support for the importation of some commodities such as rice, if the pressure on the naira does not recede.

Speaking during a meeting with stakeholders in the organized private sector in Lagos yesterday, Emefiele stressed the need for local production of most of the commodities that are presently imported into the country, so as to strengthen the naira and develop the country.

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.