The Central Bank of Nigeria (CBN) has directed maize dealers to discontinue the processing of Form M for the importation of maize with immediate effect. The apex bank issued this directive on Monday in Abuja through a circular signed by its Director of Trade and Exchange Department, Dr. OzoemenaNnaji.
CBN directed all authorized dealers to submit the list of form M already registered for the importation of maize on or before the close of business on Wednesday.
It explained that the step is part of its efforts to increase local production and stimulate rapid economic recovery.
The bank also informed that the measure was to also safeguard rural livelihood and increase job which had been lost due to ongoing Coronavirus global pandemic.
Form M is a mandatory statutory document to be completed by all importers for the importation of goods into the country.