The Central Bank (CBN) says the status quo remains on the 43 non-eligible items banned from the forex market under Godwin Emefiele, former governor of the bank.
The items are not permitted to be funded from the I & E window.
This is according to the information contained in the Q&A document published by the central bank explaining the new Operational Changes to the Forex Market.
The report is titled “Understanding the Operational Changes to the Forex Market” and it is published on its website.
In the part of the Q&A report which asked “Can the 43 Non-Eligble Items access FX at the I&E window” the response was “The status quo remains on the 43 non-eligible items. The items are not permitted to be funded from the I & E window.”
This confirms the apex bank will continue to implement the ban on the 43 items suggesting the government will continue with import substitution as they seek to keep protecting the local market.