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Central Bank of Nigeria Ban Forex For Importing Maize


Banks in Nigeria has been asked to stop processing forms M for the importation of maize into the country with immediate effect.

This order was made by the Central Bank of Nigeria on Monday July 13th, 2020, the CBN said that the decision to ban the forex for importing maize was made in order to increase and stimulate the local production and also help in rapid economic recovery and safeguarding rural livelihoods.

The CBN further added that the decision will increase jobs opportunities which was lost as a result of the ongoing COVID-19 pandemic. 

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