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All authorized maize dealer has been directed by the Central Bank of Nigeria to halt all maize importation process and return all registered Forms M. Anyone in possession of the Forms M has the authority to import maize. However, the new CBN directive will now ban the importation of maize into Nigeria henceforth.
The statement which reads “…Authorised Dealers are hereby directed to discontinue the processing of Forms M for the importation of Maize/Corn with immediate effect”.
The CBN cites the need to increase maize production locally as well as increase jobs as backing for the decision. Dr O.S Nnaji, CBN Director of Trade and Exchange Department clearly approves the decision to put a ban on maize importation.
The Forms M are to be returned by Wednesday, July 15, 2020, according to notice by the CBN. The list of Forms M already registered are also to be submitted using the attached format here.
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