Food, fertilizer importers hit hard by new presidential directive on forex

forex, CBN, fertiliser

In a bid to bolster local production, importers of food items and fertilisers in Nigeria have been disqualified from accessing forex in the vault of the Central Bank of Nigeria (CBN). In a stern manner, President Muhammadu Buhari on Thursday directed the CBN not to provide forex for the importation of food items or fertilizer going forward. Speaking on Thursday at a meeting of the National Food Security Council at the State House in Abuja, the president urged private businesses bent on food importation to source their foreign exchange independently.…

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