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CBN releases list of items valid for Forex

CBN-2

The Central Bank of Nigeria (CBN) on Wednesday published a list of items, for which importers can source foreign exchange (Forex) from the market.

CBN sent the list which has 36 categories, to all authorised dealers, Nigeria Customs and the public. It is endorsed by Director, Trade and Exchange, W.D Gotring.

Gorting explained that the list became necessary, following misconceptions and enquiries across market on items that are “Valid for Foreign Exchange”.

The items include animal or vegetable fats and oils fractions, hydrogenated- not including palm oil/ olein and margarine; prepared glues and adhesive based polymers of headings 39.01 to 39.13 or on rubber; other plates, sheets, film, foil, and strip of polymers of ethylene printed – only for pharmaceutical and manufacturing.

Others are bobbins, spools, cops and similar supports of paper or paperboard used for winding textile yarn; uncoated kraft paper and board, in rolls, uncoated kraft paper and board, in rolls, paper coated with kaolin (China clay), synthetic filament, artificial filament, woven fabrics of synthetic filament yarn, including woven fabrics obtained from material polypropylene fabrics, of the type used as carpet backing.

The list also includes glass in balls, rods or tubes, unworked, float glass, coloured throughout the mass opacified, flashed or merely surface ground only for pharmaceutical manufacturing, non-domestic heating/cooling equipment, non-electric water heaters among others.

The CBN had earlier denied reversing a ban on importers of 41 items, from accessing foreign exchange through the forex window.

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