POLFAN hails lifting of ban on 42 importation items - ITREALMS

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The Port Logistics and Forwarders Association of Nigeria (POLFAN) has hailed the recent actions of the Central Bank of Nigeria (CBN) in delisting 42 banned items for Foreign Exchange, reports ITREALMS.

The National President of the Board of Trustees of POLFAN, Chief Chima Innocent Osuji stated this recently in Lagos while briefing Port Stakeholders on recent developments in the Maritime and Shipping landscape of the country.

While welcoming the development which is sure to engender a robust Maritime Sector and ease the suffering of the masses in the short and medium term, he cautioned that there was the need to encourage Import Substitution in certain key areas to encourage Nigeria and Nigerians to take advantage of the Value Chains of local production and employment.

He further stated that the delisting from the "Not Eligible for FOREX list" is very welcome as a Short to Medium Term measure while it is expected that Government will take necessary steps to encourage Entrepreneurs to move resources into Agriculture and Manufacturing so that Nigeria and Nigerians can also enjoy the benefits of Export Trade.

While congratulating the new leadership of the Central Bank of Nigeria and Nigeria Customs Service on assumption of duty and the milestones recorded so far he further tasked them to consult widely on issues of implementation of Monetary Policies in order to receive requisite intelligence that will enable them achieve their mandates and targets.

Chief Osuji assured the Central Bank of Nigeria and the Nigeria Customs Service of the support and cooperation of Port logisticians and Freight Forwarders as he looked forward to the opening up of appropriate channels of communication between the two agencies of Government and Maritime and Shipping stakeholders.
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