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Farooq

Posts Tagged "importation"

HomePosts Tagged "importation"
  • CBN

By Oludare Mayowa LAGOS May 4 (Reuters) – Nigeria’s central bank has lifted a ban on currency allocation for importers bringing in goods worth up to $20,000 per quarter, it said in a circular seen by Reuters on Thursday. The bank in 2015 placed a restriction on 41 items for which importers could no longer […]

LAGOS, March 12 (Reuters) – Hard currency curbs imposed by Nigeria’s central bank have helped boost local food production, central bank governor Godwin Emefiele was quoted as saying by two newspapers on Sunday. Entrepreneurs have criticized a halt to hard currency allocations by the central bank for the import of almost 700 goods to prop […]

An economist, Prof. Uche Uwaleke, has advised Nigerians to import less to sustain the appreciation of the naira at the foreign exchange market. Uwaleke, who is an Associate Professor and Head, Banking and Finance Department, Nasarawa State University Keffi, gave the advice in an interview in Abuja on Thursday. “ I expect a reduction in […]

LAGOS Feb 1 (Reuters) – Nigeria’s capital imports slumped to a nine-year low in 2016 as Africa’s biggest economy battled a weaker currency and its first recession in 25 years. The National Bureau of Statistics (NBS) said on Wednesday that capital importation into Nigeria fell 47 percent last year to $5.12 billion, largely because the […]

Ifeanyi Onuba, Abuja The Federal Government, in a bid to promote development in critical sectors of the economy, has approved a reduction in the import duties of 115 items in various sectors of the economy. The approval was given by President Muhammadu Buhari as part of the fiscal policy measures of the Federal Government for […]

Barely 96 hours into the New Year, it is definitely no longer business as usual for vehicle importers in the country as the ban on importation of vehicles through the land borders comes into force. Already, the clearing agents are irked by the immediate implications of the policy on their businesses, while the terminal operators […]

  • CBN

A financial expert on Monday called on the Central Bank of Nigeria (CBN) to review the foreign exchange restriction placed on 41 items imported into the country. Dr Uche Uwaleke, the Head of Banking and Finance Department, Nasarawa State University, Keffi, made the suggestion in an interview with the News Agency of Nigeria (NAN) in […]

The National Association of Government Approved Freight Forwarders (NAGAFF) on Friday lauded the Federal Government’s plans to lift foreign exchange restriction on 41 imported items. Mr Stanley Ezenga, the National Publicity Secretary of the association, gave the commendation in an interview with newsmen in Lagos. The Federal Government had indicated its readiness to lift the […]

The Ondo State Chapter of the Motor Dealers’ Association has appealed to the Federal Government to have a rethink on the ban on the importation of vehicles through the land borders, saying that it would cause a lot of hardship. Mr Ayodele Owoyemi, the state chairman, disclosed this during an interview with the News Agency […]

By Uche Eletuo The Operations Manager, Ports and Terminal Multiservices Ltd. (PTML), Mr Jack Angrish, on Wednesday, lauded the ban on vehicle importation through the land borders. Angrish made the remarks in an interview with the News Agency of Nigeria (NAN) in Lagos. He said that the policy would have a lot of positive reaction […]