Buhari bans forex on all food imports, fertilizer into Nigeria

President Muhammadu Buhari Thursday ordered the Central Bank of Nigeria (CBN) to call off issuance of foreign exchange for food and fertiliser imports, according to a statement by his spokesman, Reuters said.

A related directive was given last year that the nominally-autonomous bank only partially observed, with some food importers still having access to foreign exchange.

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However, Thursday’s order will absolutely ban provision of forex for all imported food and fertiliser, the spokesman said. “Nobody importing food should be given money,” Buhari said.

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