CBN to restrict forex on more food items, says Emefiele | The Guardian Nigeria News - Nigeria and World News

Emefiele stated this in Abuja at the opening of a two-day retreat for ministers’ designates and top government officials at the Presidential Villa yesterday.Speaking, he said the authorities would also not renege on President Muhammadu Buhari’s directive to CBN to stop issuing Forex for food imports into Nigeria.

“We started with about 41 food and non-food items, because we believe that those items could be produced in the country. As we stand today, there are about 43 items on the list and I will say that substantially most of them are food items. “If we have a food item that could be produced in the country, why should we waste scare foreign exchange importing those items into the country, when those can be produced in the country?.

Emefiele insisted that there would be no amendment to the policy because the issue essentially has to do with efforts to end exporting of jobs to other countries. “Today we are complaining that there is a high rate of unemployment, leading to some extent the level of insecurity in the country, why should we allow people to import food that can be produced in the country?

Meanwhile, at retreat for ministers-designates ahead of inauguration of the new cabinet, the President challenged them to live up to the tasks ahead of them.Buhari stated that this was in line with his administration’s efforts at addressing the numerous problems facing the country, adding that Nigeria has all the solutions to the challenges facing the country if the leaders at various levels pay attention to the opportunities in their environment.

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