ABUJA, Oct 12 (Reuters) - Nigeria's central bank is committed to boosting liquidity in the country's foreign exchange market and has lifted a ban on 4
ABUJA, Oct 12 (Reuters) – Nigeria’s central bank is
committed to boosting liquidity in the country’s foreign
exchange market and has lifted a ban on 43 items that were
previously restricted from accessing forex, a bank spokesperson
said on Thursday.
The ban covered items such as rice, cement and poultry and
was imposed in 2015 as part of the unorthodox policies under
former Governor Godwin Emefiele in an effort to prop up the
naira currency.
“As part of its responsibility to ensure price stability,
the CBN will boost liquidity in the Nigerian Foreign Exchange
Market by interventions from time to time. As market liquidity
improves, these CBN interventions will gradually decrease,”
spokesperson Isa Abdulmumin said.
(Reporting by Camilus Eboh; editing by Mark Heinrich and Jane
Merriman)
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