The Central Bank of Nigeria (CBN) on Wednesday published a list of items, for which importers can source foreign exchange (Forex) from the market. CBN sent the list which has 36 categories, to all authorized dealers, Nigeria Customs and the public. It is endorsed by Director, Trade and Exchange, W.D Gotring.
The Federal Government may have lost over N3.8 trillion to shortfall in oil production due to militants’ attacks and oil theft last year in the Niger Delta. Specifically, Nigeria is said to have lost about 700,000 barrels daily throughout last year, for which at the oil price of $50 per barrel, the country would have lost $35 million (N10.6 billion) daily, amounting to N3.8 trillion.
The Standards Organisation of Nigeria has vowed to impose strict sanctions on manufacturers of products that fail its Mandatory Conformity Assessment Programme. The Director-General, SON, Mr. Osita Aboloma, issued the warning in Abuja during the award of MANCAP certificates to 16 companies that scaled through the certification exercise.