Former President, Olusegun Obasanjo and CBN’s move to ban poultry products & 43 others

Former President of Nigeria, Olusegun Obasanjo has decried the recent move of the Central Bank of Nigeria, to lift the ban which restricted importers of 43 items, including poultry products from accessing foreign exchange for importation.

He was speaking at the 2023 poultry summit.

The theme, tagged ‘Poultry Production: A Foundation for Food Security and National Development’, was held in Abuja, the federal capital territory.

The former president said the removal of the ban would negatively impact the investments of local poultry farmers.

The CBN, in October, had said that as part of its responsibility to ensure price stability, it will boost liquidity in the Nigerian foreign exchange market by interventions from time to time.

It stated that “Importers of all the 43 items previously restricted by the 2015 Circular referenced TED/FEM/FPC/GEN/01/010 and its addendums are now allowed to purchase foreign exchange in the Nigerian Foreign Exchange Market.”

Some of the affected items include rice, cement, margarine, palm kernel, palm oil products, vegetable oils, meat and processed meat products, vegetables and processed vegetable products, poultry, tomatoes/tomato paste, soap, cosmetics, and head pans.

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