The Central Bank of Nigeria (CBN) has directed all authorized dealers to discontinue the processing of Form M for the importation of maize with immediate effect.
This was disclosed in a circular signed by Dr. Ozoemena Nnaji, the Director of Trade and Exchange Department, CBN, Abuja.
PM NEWS notes that Form M is a mandatory statutory document to be completed by all importers for the importation of goods into the country.
CBN also directed all authorized dealers to submit the list of form M already registered for the importation of maize. All dealers concerned must do so on or before the close of business on Wednesday.
It explained that the step was part of CBN’s efforts to increase local production and stimulate a rapid economic recovery.
The bank added that the measure was to also safeguard rural livelihood and increase job which had been lost due to ongoing COVID-19 pandemic.