The Federal Government may get the Central Bank of Nigeria, CBN, to relax the ban imposed on 41 items from official foreign exchange window.
Vice President Yemi Osinbajo, who disclosed this in an email obtained by Bloomberg, said the government would consider “policy-driven restrictions” to promote local manufacturing of 41 items, such as rice and toothpicks.
He said: “In stabilizing the macroeconomic environment, we have focused on aligning fiscal with monetary policy and nudging the Central Bank toward the objective of more market-determined exchange rates.”
The policy has, however, led to the closure of many plants in various sectors.
Credit: All Africa