LIST OF ITEMS BANNED BY THE F.G. OF NIGERIA

In the continuing effort to sustain the stability of the foreign exchange market and ensure the efficient utilization of foreign exchange and the derivation of optimum benefit from goods and services imported into the country, It has become imperative to exclude importers of some goods and services from accessing foreign exchange at the Nigerian foreign exchange markets in order to encourage local production of these items.

The Central Bank of Nigeria (CBN) recently issue a directive stopping some imported goods and services from the list of items valid for forex in the Nigerian Foreign Exchange Markets. This policy implies that, those who import these items can no longer buy foreign currency from the official window to pay the overseas suppliers. Rather, they will have to source forex from the parallel market or Bureau De Change to pay for their imports.

The items include the following:

1. Rice
2. Cement

3. Margarine

4. Palm kernel/Palm oil products/vegetables oils

5. Meat and processed meat products

6. Vegetables and processed vegetable products

7. Poultry chicken, eggs, turkey

8. Private airplanes/jets

9. Indian incense

10. Tinned fish in sauce(Geisha)/sardines

11. Cold rolled steel sheets

12. Galvanized steel sheets

13. Roofing sheets

14. Wheelbarrows

15. Head pans

16. Metal boxes and containers

17. Enamelware

18. Steel drums

19. Steel pipes

20. Wire rods(deformed and not deformed)

21. Iron rods and reinforcing bard

22. Wire mesh

23. Steel nails

24. Security and razor wine

25. Wood particle boards and panels

26. Wood Fibre Boards and Panels

27. Plywood boards and panels

28. Wooden doors

29. Toothpicks

30. Glass and Glassware

31. Kitchen utensils

32. Tableware

33. Tiles-vitrified and ceramic

34. Textiles

35. Woven fabrics

36. Clothes

37. Plastic and rubber products, polypropylene granules , cellophane wrappers

38. Soap and cosmetics

39. Tomatoes/tomato pastes

40. Eurobond/foreign currency bond/ share purchases

It is important to emphasize that the importation of these items are not prohibited or banned. It only means that importers of these items are no longer qualified to get foreign exchange from the CBN or the official market to buy these items from overseas.

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