Daily Trust reports that the release of maize to the companies, which is the third of such releases, is also intended to check the activities of middlemen aimed at hoarding the product and causing artificial scarcity.
The CBN listed recipients of the grains to include Premier Flour Mills, Crown-Olam, Grand Cereals, Animal Care, Amobyn and Hybrid Feeds. Others include Obasanjo Farms, Zartech, Wacot, Sayeed Farms, Pandagri Novum and Premium Farms.
Confirming this, CBN spokesman, Osita Nwanisobi, said the release would crash the price of maize, reduce pressure on the market, and make the product directly available to feed producers, thereby reducing the price of poultry feed.
CBN Releases 50,000mt of Maize to Curb Price Arbitrage
thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
Emefiele Rules Out Foreign Investors Exclusion from OMO
thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.