Home Business CBN Moves to Ban Importation of Maize

CBN Moves to Ban Importation of Maize

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Central Bank of Nigeria (CBN), has directed all authorized dealers to discontinue the processing of Form M for the importation of maize with immediate effect.

The apex bank made this known in a circular signed by Dr Ozoemena Nnaji, Director of Trade and Exchange Department of the apex bank in Abuja. Form M is a mandatory statutory document to be completed by all importers for importation of goods into the country.

Godwin Emefiele

The CBN directed all authorized dealers to submit the list of Form M already registered for the importation of maize, and  enjoined the dealers concerned to do so on or before close of business on Wednesday.

While noting that the step was part of the bank’s efforts to increase local production and stimulate a rapid economic recovery, the CBN said the measure was also to safeguard rural livelihood and increase job which had been lost due to ongoing COVID-19 pandemic.

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