Banks have been directed to stop processing Forms M for the importation of maize with immediate effect.
The Central Bank of Nigeria (CBN) who made the order on Monday July 13, said the decision to ban forex for maize importation was made to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods.
The apex bank further stated that the decision will would increase jobs which have been lost as a result of the ongoing COVID-19 pandemic.
The statement partly read;
“Authorised dealers are hereby directed to discontinue the processing of Forms M for the importation of maize/corn with immediate effect.
“Accordingly, all authorised dealers are hereby requested to submit the list of Forms M already registered for the importation of maize/corn on or before
the close of business on Wednesday, July 15, 2020.”
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FACEBOOK COMMENTS
Davids Ogheneroro
So Nigeria imports corn...even with the vast land and rich soil pipo imports corn na wa
Endy Edeson
David, yeah, we import almost everything but it is good federal govt has banned corn importation
Davids Ogheneroro
They should ban the imports of all food items...let's encourage the local producers
Endy Edeson
Optimom Ebubechukwu of course. Our local farmers produce Maize, Cocoyam, Yam etc . It is now left for the government to expand the sector
Davids Ogheneroro
If a ban is effected we will produce all we need...
We av the capacity n capability to produce all we need
We av the capacity n capability to produce all we need
