Nigeria Spends $500 Million Annually On Palm Oil Importation – CBN

The Governor, Central Bank of Nigeria (CBN) Godwin Emefiele on Monday said that over five hundred million dollars was being spent annually on importation of palm oil. Mr Emefiele said this at a stakeholders’ meeting on the Palm Oil Value Chain held in Abuja. The meeting was attended by the Governors of Akwa Ibom, Edo […]

FG Bans Palm Oil Import, As CBN Distributes N30bn To Producers

It is now an offence for any company or individual to import palm oil into Nigeria. In its bid to boost local production and create more jobs, President Muhammadu Buhari, has directed the apex bank to include palm oil among the banned 42 items and to prosecute firms, owners and management that violated the order […]

Buhari orders CBN to blacklist importers of palm oil, 42 other items

President Muhammadu Buhari has directed the Central Bank of Nigeria to blacklist from the banking system any firm, its owner and top management caught smuggling or dumping any of the 43 items that are not eligible for foreign exchange. The Presidential directive was disclosed by the CBN Governor, Mr Godwin Emefiele, on Friday in Abuja […]