Breaking: CBN restricts sale of forex to importers of textiles

CBN restricts sale of forex to importers of textiles. The Central Bank of Nigeria, CBN, has directed commercial banks and Bureau the Change operators to, immediately, stop sale of forex to import textiles and clothing materials in the country. The CBN governor, Mr Godwin Emefiele revealed the directive to newsmen on Tuesday in Abuja during […]

CBN restricts sale of forex to importers of textiles. The Central Bank of Nigeria, CBN, has directed commercial banks and Bureau the Change operators to, immediately, stop sale of forex to import textiles and clothing materials in the country.


Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele

The CBN governor, Mr Godwin Emefiele revealed the directive to newsmen on Tuesday in Abuja during a meeting with stakeholders in the cotton sector of the economy. According to him, the restriction will help to encourage the growth of the textile and cotton industry in Nigeria.

Details later.

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