To address the confusion surrounding the 41 items that are not valid for foreign exchange, the Central Bank of Nigeria (CBN) yesterday released a list of items that can source foreign exchange (forex) from the market.
The list, sent to all authorised dealers, Nigeria Customs and the public, has 36 categories. It is endorsed by Director, Trade and Exchange, W.D Gotring.
He said the list became exigent following misconceptions and enquiries across market on items that are “Valid for Foreign Exchange”.
The items that made the list include animal or vegetable fats and oils fractions, hydrogenated- not including palm oil/ olein and margarine; prepared glues and adhesive based polymers of headings 39.01 to 39.13 or on rubber; other plates, sheets, film, foil, and strip of polymers of ethylene printed- only for pharmaceutical and manufacturing.
Others are bobbins, spools, cops and similar supports of paper or paperboard used for winding textile yarn; uncoated kraft paper and board, in rolls, uncoated kraft paper and board, in rolls, paper coated with kaolin (China clay), synthetic filament, artificial filament, woven fabrics of synthetic filament yarn, including woven fabrics obtained from material polypropylene fabrics, of the type used as carpet backing.
The list also includes glass in balls, rods or tubes, unworked, float glass, coloured throughout the mass opacified, flashed or merely surface ground only for pharmaceutical manufacturing, non-domestic heating/cooling equipment, non-electric water heaters among others.