In a circular made public today 13th July 2020, the Central Bank of Nigeria has directed all authorised dealers in the country to discontinue the importation of rice.
This is in line with the apex monetary goal of encouraging local farmers, boosting agriculture in the country, securing rural livelihood and creating jobs in the country.
In line with this directive all authorized dealers are required to return all already registered form M for maize importation on or before Wednesday 15th July 2020. Dealers are endeared to adhere to the directive with strict compliance.
The circular which was addressed to all authorized dealers and signed by the CBN’s Director for trade and exchange department Dr. O.S. Nnaji read as follows;
“As part of efforts by the Central Bank of Nigeria to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods and increase jobs, which were lost as a result of the ongoing COVID-19 pandemic, 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 using the attached format on or before the close of business on Wednesday Ju,y 15, 2020.
Please ensure strict compliance.”
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