The Central Bank has stated that the 43 non-eligible commodities barred from the FX market under Godwin Emefiele remain unchanged.
The items cannot be funded through the I & E window.
This is according to the information contained in the central bank’s Q&A document detailing the new Operational Changes to the Forex Market.
The report is titled “Understanding the Operational Changes to the Forex Market” and it is published on its website.
In the part of the Q&A report which asked “Can the 43 Non-Eligble Items access FX at the I&E window” the response was “The status quo remains on the 43 non-eligible items. The items are not permitted to be funded from the I & E window.”
This confirms the central bank will continue to implement the ban on the 43 items suggesting the government will continue with import substitution as they seek to keep protecting the local market.