CBN Lists Items Valid For Forex

BEVERLY HILLS, May 18, (THEWILL) – The Central Bank of Nigeria (CBN) has released a list with 36 categories of items that can source foreign exchange (forex) from the market.

The list, endorsed by Director, Trade and Exchange, W.D Gotring, was sent to all authorised dealers, Nigeria Customs and the public.

Gotring said the list became exigent following misconceptions and enquiries across market on items that are “Valid for Foreign Exchange.”

The items that made the list include animal or vegetable fats and oils fractions, hydrogenated- not including palm oil/olein and margarine; prepared glues and adhesive based polymers of headings 39.01 to 39.13 or on rubber; other plates, sheets, film, foil, and strip of polymers of ethylene printed- only for pharmaceutical and manufacturing.

Others are bobbins, spools, cops and similar supports of paper or paperboard used for winding textile yarn; uncoated kraft paper and board, in rolls, uncoated kraft paper and board, in rolls, paper coated with kaolin (China clay), synthetic filament, artificial filament, woven fabrics of synthetic filament yarn, including woven fabrics obtained from material polypropylene fabrics, of the type used as carpet backing.

Others are glass in balls, rods or tubes, unworked, float glass, coloured throughout the mass opacified, flashed or merely surface ground only for pharmaceutical manufacturing, non-domestic heating/cooling equipment, non-electric water heaters among others.

THEWILL recalls that the Apex bank recently dismissed speculations that it reversed ban on the importation of 41 items from accessing foreign exchange through the forex window.

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