CBN Bans Importation Of Textile Materials
CBN Governor Godwin Emefiele

Central Bank of Nigeria (CBN) on Tuesday included textile to the list of 42 items ineligible for officially sourced forex.

At a meeting with stakeholders in the cotton and textile value chain in his office, Emefiele promised tough times for smugglers of textile materials.

Advertise With Us

“Recalcitrant smugglers will be blacklisted from banking services”, he declared.

Emefiele said an industrial hub would be created where electricity would be provided to also encourage the industry to grow and create jobs.