The Central Bank of Nigeria (CBN) has lifted the forex ban on 43 items restricted from accessing FX from the I&E window.

The apex bank had in 2015 restricted the items, saying they were not valid for foreign exchange and could be produced in the country.

Items affected include rice, cement, palm kernel, meat and processed meat products, poultry, soap, and cosmetics among others.

However, in a statement, the bank’s Director of Corporate Communications Isa AbdulmUMIN said the ban has been lifted.

He noted that, as market liquidity improves, the CBN interventions will gradually decrease, and as part of its responsibility to ensure price stability, will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time.

The CBN added that Importers of all the 43 items previously restricted by the 2015 Circular and its addendums are now allowed to purchase foreign exchange in the Nigerian Foreign Exchange Market.