Stella Dimoko CBN Lifts Forex Ban On 43 Banned Items


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Friday, October 13, 2023

CBN Lifts Forex Ban On 43 Banned Items

The Central Bank of Nigeria has lifted the ban on 43 items banned under ex CBN Gov Emefiele's tenure....
This was disclosed in a circular released on Thursday October 12, 2023.

The Central Bank says it will also boost liquidity in the Nigerian Foreign Exchange Market and intervene from time to time, stating that interventions will decrease as liquidity improves.

Here is the list of the 43 non-eligible items CBN lifted restrictions on-

1. Rice
2. Cement
3. Margarine
4. Palm kernel
5. Palm oil products
6. Vegetable oils
7. Meat and processed meat products
8. Vegetables and processed vegetable products
9. Poultry and processed poultry products
10. Tinned fish in sauce (Geisha)/sardine
11. Cold rolled steel sheets
12. Galvanized steel sheets
13. Roofing sheets
14. Wheelbarrows
15. Head pans
16. Metal boxes and containers
17. Enamelware
18. Steel drums
19. Steel pipes
20. Wire rods (deformed and not deformed)
21. Iron rods
22. Reinforcing bars
23. Wire mesh
24. Steel nails
25. Security and razor fencing and poles
26. Wood particle boards and panels
27. Wood fiberboards and panels
28. Plywood boards and panels
29. Wooden doors
30. Toothpicks
31. Glass and glassware
32. Kitchen utensils
33. Tableware
34. Tiles-vitrified and ceramic
35. Gas cylinders
36. Woven fabrics
37. Clothes
38. Plastic and rubber products
39. Polypropylene granules
40. Cellophane wrappers and bags
41. Soap and cosmetics
42. Tomatoes/tomato pastes
43. Eurobond/foreign currency bond/ share purchases


  1. Thank you Jesus. Abeg they should include all purpose flour, sugar and others to the list abeg. Nigerians have really been through alot

  2. A very good news. Now the hunger projected on Nigeria by the international community will not come to pass. Building of house by the average Nigerian too will be easier.

    Kudos to president BAT 👍

  3. Hopefully this reduce the cost of items locally produced that have skyrocketed.

    Meanwhile be careful of d edibles. Before you go eat fattened frog thinking it's chicken. Or expired products ooo

  4. Please who can explain in a layman terms what this means

  5. Ok.
    So please what does this mean to the ordinary man on the street, will the prices of the listed items reduced? I'm asking for myself and my yard people.

    1. It means more things can be imported further killing local farmers, manufacturers etc and further ruining the naira by depreciating it

  6. I no understand. I pray it reduces the prices of all stated

  7. What is the fate of industries manufacturing all these items in Nigeria?


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