Nigeria: CBN Mulls Including Hand Sanitisers Among Items Not Valid for Foreign Exchange

(file photo).
13 March 2020

The Governor, Central Bank of Nigeria (CBN) Mr. Godwin Emefiele, has said the Bank may consider including the importation of hand sanitisers amongs items not valid for foreign exchange (FX) from its official forex window.

The CBN governor said this while speaking at the 'Going for Growth 2.0,' roundtable that took place in Abuja.

Emefiele, said this while responding to complaints by the Chief Executive of Emzor Pharmaceuticals Industrials Limited, Mrs. Stella Okoli, that most of the hand sanitisers seen in the country since the outbreak of the coronavirus were imported.

The price of hand sanitisers in the country have spiked since the first case of coronavirus was announced.

Emefiele said: "It is naira that we pay to buy sanitisers, rather than using dollars to import sanitisers from China. And I'm sure, as you all expect, that very soon, sanitiser will get into the list of items that are banned."

Earlier in his address, Emefiele had said addressing domestic and external challenges to growth required input from critical stakeholders who could generate great and workable ideas and solutions.

"We must all work together in order to harness the true potential of our nation. This one-day roundtable session will address some of the measures needed to drive double digital growth rate in Nigeria.

"These include, improving productivity in the agriculture and manufacturing sectors. Second, how to develop funding models that would support improvements in the quality of our energy and transport infrastructure.

"Third, how Nigerians operating in the creative industries space, such as ICT, can expand and capture the value of their works, while creating jobs and generating export revenues for our nation," he added.

The findings generated from the roundtable session were presented to President Muhammadu Buhari, at the end of the summit.

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