Again, Buhari Directs CBN Not To Release Forex For Food Import

Planned Retrenchment By Banks

President Muhammadu Buhari has again directed the Central Bank of Nigeria (CBN) not to release any foreign exchange for the importation of food items

He issues the directive again during his fifth regular meeting with members of the presidential advisory council, held virtually

Buhari says there is no need for food import, since seven states are already producing rice for local consumption, adding that Nigerians must eat what they produced

He explains that the oil sector which the country depends upon is in turmoil with devastating effects on the Nigerian Economy According to the president, Nigeria would by now have been in trouble if his administration had not encouraged local production of food, and its closure of land borders

YOU CAN ALSO READ THIS: CBN Withdraws Licence Of Seven Payment Service Provider

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