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Buhari Directs CBN To Stop Issuing Forex For Food, Fertiliser Imports

Ademola Aderele by Ademola Aderele
2 years ago
in Business, Economy
Reading Time: 1 min read
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Nigerian Elites Should Judge My Administration Fairly, Says Buhari

President Muhammadu Buhari

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President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to stop issuing foreign exchange for food and fertiliser imports.

Read Also: Fire Guts INEC Office In Ondo

The President had issued similar directives last year but it was discovered that some food importers still had access to foreign exchange.

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However in a tweet via his official Twitter handle, Buhari said the country has enough able-bodied youths who can improve the agricultural sector.

Read Also: EXCLUSIVE: Daddy Freeze, Mother Prepare For Legal Battle With Pastor Ibiyeomie

“I am restating it that nobody importing food or fertilizer should be given foreign exchange from the Central Bank. We will not pay a kobo of our foreign reserves to import food or fertilizer. We will instead empower local farmers and producers.

Read Also: Dubai-bound Passenger Caught With 2,886 ATM Cards At Lagos Airport

“We have a lot of able-bodied young people willing to work, and agriculture is the answer,” he tweeted.

Tags: CBNFoodforexMuhammadu Buhari
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