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CBN moves to ban importation of maize

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CBN moves to ban importation of maize

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


The CBN made this known in a circular signed by Dr Ozoemena Nnaji, the 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.

The apex bank directed all authorised dealers to submit the list of form M already registered for the importation of maize.

The bank enjoined the dealers concerned to do so on or before close of business on Wednesday.

It explained that the step was part of CBN’s efforts to increase local production and stimulate a rapid economic recovery.

The bank added that the measure was to also safeguard rural livelihood and increase job which had been lost due to ongoing COVID-19 pandemic.

Edited By: Ejike Obeta (NAN)

Mustapha Sumaila: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

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