Import ban as the name implies is simply a situation whereby specific items, goods, and services are banned from being imported into the country.
This ban may arise if the said item is considered harmful to the masses of the said country. Or contain a harmful substance that can react adversely and become life threatening. However, that can only apply to the goods listed in the Custom prohibition list.
As for goods banned by CBN (Central Bank of Nigeria), the reason is not far-fetched.
This decision came into play back in 2015 when the Nigeria foreign reserve came to an all time low. The federal government could no longer stand to sustain the excess forex (dollar, pounds, euro etc) demand of Nigerian importers. And placed a ban on items considered as personal luxury (e.g cars, phones, clothes etc) instead of needs and necessity (e.g raw materials needed for production).
However, from 2015, 2016 and now 2017, some extra items has been added or rather removed from the list.
The whole idea was to encourage local production, boost export instead of import in other to strengthen the naira value against the dollar and other foreign currencies. By simply removing this unwanted item from the list of importable items having access to forex at the official rate. Meaning if you want to import the CBN banned items, you may have to source for dollars yourself at the parallel market or Bureau De Change (BDC). Whose rates are usually a lot more expensive than the official rate.
With that said, let’s proceed…
Alphabetical List Of 41 Items Banned By CBN
The items banned forex were actually 40 in number. But several publications has it as 41. Hence the above value. You will find below, the alphabetical arrangements of the items;
- Cold rolled steel sheets
- Eurobond/foreign currency bond/ share purchases
- Galvanized steel sheets
- Glass and Glassware
- Head pans
- Indian incense
- Iron rods and reinforcing bard
- Kitchen utensils
- Meat and processed meat products
- Metal boxes and containers
- Palm kernel/Palm oil products/vegetables oils
- Plastic and rubber products, polypropylene granules, cellophane wrappers
- Plywood boards and panels
- Poultry chicken, eggs, turkey
- Private airplanes/jets
- Roofing sheets
- Security and razor wine
- Soap and cosmetics
- Steel drums
- Steel nails
- Steel pipes
- Tiles-vitrified and ceramic
- Tinned fish in sauce(Geisha)/sardines
- Tomatoes/tomato pastes
- Vegetables and processed vegetable products
- Wire mesh
- Wire rods(deformed and not deformed)
- Wood Fibre Boards and Panels
- Wood particle boards and panels
- Wooden doors
- Woven fabrics
NOTE: These products/items are actually not prohibited from being imported into Nigeria. Neither are they considered harmful… They’re actually importable goods any importer can import into the country. The only difference is that they are not valid for forex at the Nigerian foreign exchange market. Our next post will be on the list of products that can be imported into Nigeria.
Meanwhile, you can check out our other resources such as how to become an import-export agent, our detailed post on getting an Agric export license or the Nigerian customs import prohibition list which is directly related to this post.
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