Nigeria’s central bank lifted a ban on the purchase of dollars on the official market to import 43 specified items after the measure diverted demand to the unauthorized market, fueling a rout in the local currency.
The importers of all the previously restricted items “are now allowed to purchase foreign exchange in the Nigerian foreign exchange market,” the Abuja-based Central Bank of Nigeria said in statement on its website on Thursday. “The CBN will boost liquidity in the Nigerian foreign exchange market by interventions from time to time.”
