A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
The House of Representatives has resolved to invite the Governor of the Central Bank of Nigeria over the bank’s decision to lift the restriction on forex supply on 43 imported items.
Moving the motion, Soli recalled that the CBN imposed the restrictions in June 2015 to conserve the foreign exchange reserves and promote local production of certain goods, including about 11 food items. Soli expressed concern that the decision of the bank will greatly affect local production of items such as rice, cement, and palm oil among others.
“Worried that some of the listed items enjoy 60 to 70 per cent subsidy from their countries of origin, thus putting Nigeria’s local products at a comparative disadvantage and without any protection, and will lead to job losses and social exclusion;
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JUST IN: Reps Summon CBN Governor Over Lifting Forex Ban on Toothpicks, Cement, OthersA Trusted Nigerian Newspaper
Read more »
Colonialism shaped modern universities in Africa – how they can become truly AfricanPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »
The uncommon lawlessness of Godswill Obot Akpabio, By Chidi Anselm OdinkaluPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »
Why the ban as policy tool has come to stay, By Uddin IfeanyiPremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »
Is there really anything like a ‘repentant’ thug?, By Jideofor AdibePremium Times - Nigeria'bs leading online newspaper, delivering breaking news and deep investigative reports from Nigeria
Read more »
There’s only one way to fix Naira crisisFormer Deputy Governor of the Central Bank of Nigeria (CBN), Prof Kingsley Moghalu, has said the naira can only be strong again if Nigeria becomes an export-driven economy.
Read more »