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FG succumbs to MANs pressure, directs 60% FX to end users

Published by Daily Times on Thu, 25 Aug 2016


The Manufactures Association of Nigeria (MAN) has commended the Federal Government on the Central Bank of Nigerias (CBN) recent circular directing all authorised dealers to henceforth dedicate at least 60 percent of their foreign exchange purchases from all sources to manufacturers that make use of imported raw materials for production. It could be recalled that the Manufacturers Association of Nigeria had been in the forefront of advocating for a special consideration and allocation of foreign exchange to the manufacturing sector. The President of MAN, Dr Frank Udemba Jacobs in a media chat on Tuesday said the new policy will enableThe post FG succumbs to MANs pressure, directs 60% FX to end users appeared first on Daily Times Nigerian Newspaper.
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