The Central Bank of Nigeria (CBN) has made known that the policy to stop Forex for food importation, has since commenced.
President Muhammadu Buhari’s administration is trying to lure foreign investors to support Nigeria's weakened currency.
CBN Governor, Mr. Gowdin Emefiele has said that the planned FOREX restrictions on food items import in Nigeria will not affect the AfCFTA.
Nigeria's dependence on textile importation led to the shut down of many textile companies which, in turn, caused retrenchment in the textile industry.
