Importers Get Reprieve from CBN

Reprieve has come the way of importers whose containers were abandoned at the seaport as a result of Foreign Exchange challenges.

The Central Bank of Nigeria (CBN) has consequently granted provisional approval for the clearance of the overdue containers at various seaports in the country.

The overdue containers had been abandoned by their shippers due to forex issue.

The CBN’s directive was sequel to a letter by the minister of Finance, Mrs. Kemi Adeosun dated March 18, 2016 and addressed to the Governor of the CBN, Godwin Emefiele, requesting for an approval by the apex bank to allow importers of the affected consignments reaching up to 200 containers of general cargoes, which had been shipped before the commencement of the restriction, which she said had already been approved by President Muhammandu Buhari.

Meanwhile in a letter dated April 7, 2016, the apex bank conveyed its approval for the clearance of the affected consignments.