AfricaNigeria to halt foreign currency for sugar, wheat imports -central bank
ReutersChijioke Ohuocha
2 minutes read
Nigeria will no longer provide foreign currency for importers of sugar and wheat, the central bank said on Twitter on Friday, as the country tries to conserve national dollar reserves.
Africa's most populous country, and its biggest economy, relies on imports to feed its 200 million people. The central bank restricted access in 2015 to foreign exchange for 41 items it says can be produced locally, and has added to the list since then.
"Sugar and wheat to go into our FX restriction list. We must work together to produce these items in Nigeria rather than import them," the central bank said in a tweet.