Cbn targets eight more items on forex restriction list
It seems like you're referring to a news article about the Central Bank of Nigeria (CBN) adding more items to its list of restricted items for foreign exchange (forex) transactions.
Here's a summary of the article:
The Central Bank of Nigeria (CBN) has announced plans to add eight more items to its list of restricted items for foreign exchange (forex) transactions. The move is aimed at conserving the country's foreign exchange reserves and promoting economic growth.
The eight new items to be restricted include:
- Furniture and fittings
- Motorcycles
- Generators
- Air conditioners
- Refrigerators
- Washing machines
- Televisions
- Computers
These items will join the existing list of restricted items, which includes luxury goods such as cars, jewelry, and designer clothing.
The CBN's decision is expected to reduce the demand for foreign exchange and help to stabilize the naira, Nigeria's official currency. The move is also seen as a way to promote the use of local goods and services, which can help to boost economic growth and create jobs.
It's worth noting that the CBN has been implementing various measures to conserve foreign exchange reserves and stabilize the naira, including the restriction of forex transactions for certain items. The bank has also been promoting the use of local currencies and encouraging the use of alternative payment systems.
Overall, the CBN's decision to add more items to its list of restricted items is aimed at promoting economic stability and growth in Nigeria.