Welcome to 9jaflaver

HOME | MUSICS | FREEBEAT | VIDEOS | NEWS | TECHS | JOKES | COMEDY VIDEOS | CONTACT US

Celebrity News | 9ja foods / recipes | 9ja Musics | 9ja News | Education | Fashion | Football Updates | Freebeats | Lifestyle | Funny Photos

Like us on facebook | Follow us on twitter

You Can Email Us:- [email protected]

Follow Us On Instagram Here

Quick Contact
23408114624972

Music Producers Send Us Your Freebeats /Instrumentals Let's Promote It For Free Here

Upcoming Artistes:- Promote your music on 9jaflaver Here

DOWNLOAD 9JAFLAVER ANDROID APP HERE

Call Ego Catering Services Now For All Your Quality Dishes, Event Planning, Cakes, e.t.c (Click Here)



« | »

CBN Grants Manufacturers Access To $660m

CBN Grants Manufacturers Access To $660m

Manufacturing industries in Nigeria have been given access to foreign exchange valued at over $660m in the inter-bank market to source raw materials and spare parts for their industries courtesy of the interbank forex market.
The Central Bank of Nigeria’s acting Director, Corporate Communications, Mr. Isaac Okorafor, in a statement on Monday said that the measure by the CBN was in line with its promise to ease foreign exchange pressure on manufacturing and agricultural businesses through forward sales under the new flexible Forex regime.
He said that the sum sourced by the manufacturers was to facilitate the procurement of raw materials for agricultural, pharmaceutical, automobile, aviation, plant and machinery, power, telecommunications, and printing,
He said, “The CBN is committed to ensuring that manufacturers of goods for which Nigeria does not enjoy comparative advantage are able to get letters of credit (LCs) to import the required materials for their businesses.”
The measure is coming after Erisco Foods Limited announced the closing down of its N4bn tomato paste processing plant in Oregun, Lagos State.
The Company’s President, Mr. Eric Umeofia, said it was closing down its 450,000 tonnes tomato plant, sacking 1,500 workers and moving its operations to China.
Umeofia has said the decision was due to the refusal of CBN to allocate Forex to the company for importation of raw materials
Okorafor said that since the CBN introduced restrictions on the sourcing of Forex for 41 items from the inter-bank market, the move had greatly benefited local manufacturers in the country.
He urged manufacturers to take advantage of the policy which would enable Nigeria to reclaim its status as a major producer of goods through backward integration initiatives.
According to him, this will necessary push to Nigeria to conserve billions of forex being spent on import bills annually.

Punchng

Click Here To Comment On This Post

THANK YOU FOR VISITING 9jaflaver.com WE HOPE TO SEE YOU COME VISIT AGAIN
You can go through other informative, and entertaining posts here on 9jaflaver, and you can even comment at the buttom of this post. THANK YOU

Follow Us On Instagram Here

Follow us on twitter Here

Like us on facebook Here

Posted by on November 8, 2016.

Categories: 9ja news

There is love in sharing

0 Responses

Don't Just Read A Post And Go, Comment Below To Make The Post Lively

Do You Have Something To Say? Comment In The Box Below

Your Name Below

NOTE:- After Dropping your comment, keep calm, it will take 5mins before it appears.

« | »


9jaflaver Face Of The Week

Name:- Blisz Onogwu
Occupation:- Student / Model
Call / BBM Pin:- 5C043FDD
Instagram:- IG_Bliszonogwu

Wish to be our face of the week? Send your photos, phone number, instagram handle to us via whatsapp:- 08114624972 or email:- [email protected]


Advertise | About Us | Privacy Policy | Contact Us | Content Removal | DMCA

Like us on facebook | Follow us on twitter
Copyright © 2016 9jaflaver
Powered By: 9jaflaver