Full List: See the 43 Items Now Accessible After Forex Restrictions Are Removed

The Central Bank of Nigeria, CBN has announced the removal of foreign exchange restrictions on the importation of 43 Items.

The apex bank emphasized its dedication to enhancing liquidity in the forex market.

Dr. Isa Abdulmumin, who is Director of Corporate Communications at CBN, importers of the previously restricted items are now permitted to buy foreign exchange in the Nigerian Foreign Exchange Market.

“The CBN will promote orderliness and professional conduct, allowing market forces to determine exchange rates based on a Willing Buyer – Willing Seller principle.”

The CBN stressed the importance of referencing forex rates from platforms like the CBN website, FMDQ, and other recognized trading systems to ensure transparency and credibility.

Abdulmumin further stressed the bank’s commitment to stabilizing prices by intervening in the Nigerian Foreign Exchange Market when necessary. As market liquidity improves, these interventions will gradually decrease, Abdulmumin promised.

The CBN also expressed its dedication to resolving the FX backlog issue through ongoing dialogues with stakeholders. The CBN has a goal of establishing a single FX market, and consultations with market participants are underway to achieve this objective. All participants and the general public are advised to adhere to these guidelines.

Below is the list of the items:

1. Rice
2. Cement
3. Margarine
4. Palm kernel
5. Palm oil products
6. Vegetable oils
7. Meat and processed meat products
8. Vegetables and processed vegetable products
9. Poultry and processed poultry products
10. Tinned fish in sauce (Geisha)/sardine
11. Cold rolled steel sheets
12. Galvanized steel sheets
13. Roofing sheets
14. Wheelbarrows
15. Head pans
16. Metal boxes and containers
17. Enamelware
18. Steel drums
19. Steel pipes
20. Wire rods (deformed and not deformed)
21. Iron rods
22. Reinforcing bars
23. Wire mesh
24. Steel nails
25. Security and razor fencing and poles
26. Wood particle boards and panels
27. Wood fiberboards and panels
28. Plywood boards and panels
29. Wooden doors
30. Toothpicks
31. Glass and glassware
32. Kitchen utensils
33. Tableware
34. Tiles-vitrified and ceramic
35. Gas cylinders
36. Woven fabrics
37. Clothes
38. Plastic and rubber products
39. Polypropylene granules
40. Cellophane wrappers and bags
41. Soap and cosmetics
42. Tomatoes/tomato pastes
43. Eurobond/foreign currency bond/ share purchases