Forex: 41 items remain banned, says Emefiele

By Omodele Adigun Those thinking that the embargo on  the 41 items may have been lifted were proed wrong over the weekend as the Governor of the Central Bank of Nigeria(CBN), Mr Godwin Emefiele, stated that the ban is not only in force but also canvassed their support for the policy. According to Emefiele, the policy was not just in response to the pressure on the Naira, but also as an opportunity to change the economy’s structure, resuscitate local manufacturing, and expand job creation for the citizenry. The apex bank boss, who stated this at the weekend in Lagos while recieving Vanguard Newspaper’s Personality of the Year Award, enjoined Nigerians to support  the policy as its variants have proven to be highly effective in other climes and even in the country. He stated: “This policy was basically borne out of necessity to conserve foreign exchange. I know that no policy is cast in stone, and we may have no need for it some day in this country. But, policymakers across this country need to pay attention to global trends and ensure that they reflect upon our strategy and thinking. Given the new realities of nationalist and populist sentiments sweeping across […]