SEE The official list of 43 banned items from Nigerian Foreign Exchange Market

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The central bank of Nigeria released a list of imported products and services that will not be valid for foreign exchange in the Nigerian foreign exchange market in a circular dated June 23rd, 2015.

The list was published “in the continuing effort to sustain the stability of the foreign exchange market and ensure the efficient use of foreign exchange and the derivation of maximum benefits from goods and services imported into the country,” according to a statement issued by the central bank at the time.

It went on to say that in order to boost local production of certain commodities, it had to bar importers of certain goods and services from obtaining foreign exchange in Nigerian markets.

In exchange, the central bank anticipated that the strategy would assist conserve foreign reserves while also facilitating the revival of domestic businesses and improving job creation.

When the list was first issued, it contained 41 items, but the central bank added two more.

After eight years, the jury is still out on whether or not this policy was successful.


In response to calls from our readers, we provide a list of the 43 items that are illegible for accessing Nigeria’s forex market.

  1. Rice
  2. Cement
  3. Margarine
  4. Palm Kernel/Palm oil products/vegetable oils
  5. Meat and Processed Meat Products
  6. Vegetables and Processed Vegetable Products
  7. Poultry – chicken, eggs, Turkey
  8. Private Airplanes/Jets
  9. Indian Incense
  10. Tinned Fish In sauce (Gelsha)/Sardines
  11. Cold Rolled Steel Sheets
  12. Galvanized Steel Sheets
  13. Roofing Sheets
  14. Wheelbarrows
  15. Head Pans
  16. Metal Boxes and Containers
  17. Enamelware
  18. Steel Drums
  19. Steel Pipes
  20. Wire Rods (deformed and not deformed)
  21. Iron Rods and ReInforcina Bars
  22. Wire Mesh
  23. Steel Nalls
  24. Security and Razor Wire
  25. Wood Particle Boards and Panels
  26. Wood Fiber Boards and Panels
  27. Plywood Boards and Panels
  28. Wooden Doors
  29. Furniture
  30. Toothpicks
  31. Glass and Glassware
  32. Kitchen Utensils
  33. Tableware
  34. Tiles – vitrified and ceramic
  35. Textiles
  36. Woven Fabrics
  37. Clothes
  38. Plastic and Rubber Products, Cellophane Wrappers
  39. Soap and cosmetics
  40. Tomatoes/Tomato Pastes
  41. Euro bond/Foreign Currency Bond/Share
  42. Milk
  43. Maize

Note: While the list is 43, each item on the list includes several other sub-items as captured by the Nigerian Customs using their import codes list.

The above list does not also mean that the items on it are banned from being imported. They are just banned from accessing forex from the official investor and exporter window.

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