Nairametrics. In yet another step towards a deregulation of the foreign exchange market, the Central Bank of Nigeria (CBN), has removed the 48 items from the banned list. This seems to be a prelude to a full deregulation of the foreign exchange market. In 2015, 48 items were banned including toothpicks, private jets and palm oil. Here is what we know about the just issued circular:

Importers of the items that were previously banned, will now be allocated $20,000 a quarter.
The importers will be required to provide Form Q.
Applicants for the foreign exchange would be required to have been account holders for at least six months.
Foreign account bank transfer details will be provided along with an invoice.

http://nairametrics.com/cbn-reverses-ban-on-48-items/

Not good actually.

Items with indigenous substitutes should remain banned.

Employment generation things.

My thought though.

Imagine, lifting this ban after some individuals have committed some resources into agriculture.

Importers of the items that were previously banned, will now be allocated $20,000 a quarter.

How does one apply to collect this $20000 a quarter? I am highly interested

Who's the clueless one now, thought they said Jonathan was a slowpoke for signing the importation of toothpicks, even when the man said he wasn't aware of the content.

I guess bubu is too sick to have reviewed the content.

I wonder y they got tired so quick........they shouldn't av banned them in d first place.

We are not ready yet to develop as a country..... One step forward, five steps backward.

CBN may una go baff,is tooth pick ur problem,

The CBN should focus more on recouping all the dollar$ looters hid in various apartments, freezers, farms and burial grounds rather than squeezing us of the meagure hard currency we spend.

Lift ban on ordinary toothpick? Seems Buhari's illness has been transmitted to Emefiele

Toothpicks of all things..

Without even checking to see if why they were banned initially has been solved.

Am tired abeg..

Osinbajo

gurunlocker:
We are not ready yet to develop as a country..... One step forward, five steps backward.

you took the words from my mouth

Nigeria was just one great britain experiment that will never work

Hunmm!!?

silly news.

It should have read CBN lifts IMPORTATION ban on toothpicks, 47 others.

The ban was on importation to protect the Naira and not directly on forex. Besides, this does not have anything to do with forex deregulation.

Poor reporting.

LOOOOOOOOOOOOOOOOOOOOOOOL.

and some people say this administration has a plan?
buhari is the epitome of confusion, mental _retardation, backwardness and stvpidity.


Now who's the ineffectual buffon?

So you want to tell me we can't produce our own ''toothpicks''

SMH!

Mtn data Awoof is back ..... I just collect 12gig

Re

An unserious government with flip flop policies

An unserious government with flip flop policies.

Happy lifting

Back and forth. Consistency in policy is key

Maka why?

Solution coming too late! Please why the policy in d first place? Policy somersault like someone above me said? Honestly all dis taking 1 step forward 2 steps backwards is what has been killing us as a country for many years and we don't seem to understand. Either good or bad, we need to learn how to make a policy and stick to it all thru, it's so sad we ain't ready to move forward as a nation.


Now that prices of consumer products have skyrocketed up, are they going to come down back? Giving d greedy set of human beings we are. Assuming its in a country where there is a functional consumer pricing check agency now, it would have been beta