The Central Bank of Nigeria has said it is raising dollar supply in the foreign exchange market, just as it also lifted the ban on 43 items that were previously not qualified for forex at the official market.

The decision came after the naira tumbled to 1,050/$ at the parallel market on Thursday, following pressure from international organisations and experts.

The PUNCH earlier noted that despite unifying exchange rates, the CBN had in June said that the status quo remained on the 43 non-eligible items banned from the forex market introduced under the former governor, Godwin Emefiele.

Nigerians imported not less than nine items worth N18.12tn from the forex ban list of the CBN between 2016 and 2022.

Source: Punch