Foreign Exchange Restrictions on Importation of Milk and Dairy Products

The Central Bank of Nigeria (CBN) recently put in place foreign exchange restrictions on importation of milk and dairy products into Nigeria.

The CBN in its circular dated 11th February, 2020 restricted access to the CBN official foreign exchange market to five (5) companies that have participated in the CBN backward integration programme to enhance the companies’ capacity to improve local milk production in Nigeria.

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