The Central Bank of Nigeria (CBN) on Thursday released list of 36 items valid for access to foreign exchange in the foreign exchange market.
In a circular to all banks and the general public, CBN explained that the list of the 36 items valid was released to clarify misconceptions about details of the 41 items banned from accessing dollars in the foreign exchange market.
Titled: “Clarification on items valid for foreign exchange in the Nigerian Foreign Exchange market”, and signed by the Director, Trade and Exchange Department, CBN, Mr. W.D Gotring, the circular stated: “Following misconceptions and enquiries across the market, the is to clarify to the authorised dealers, Nigerian Customs Service and the general public that the following items with their HS codes remain ‘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.
