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CBN governor restricts forex for textile products

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Central Bank of Nigeria (CBN) Governor Godwin Emefiele yesterday described as wicked his alleged removal from office. He insisted that he had not received any memo from the presidency directing him to leave.

Emefiele debunked the rumour yesterday in Abuja at a stakeholders’ meeting with textile manufacturers and cotton farmers where he announced the inclusion of textile products on the long list of items restricted from foreign exchange (fx) for import into the country.

The restriction order, which is with immediate effect, has brought the number of such items to 44. Earlier this year, cement and tomatoes paste were added to the list.

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