After the CBN lift the forex ban, the I&E window records a $53.02 million turnover
Following the lifting of the forex embargo on 43 products by the Central Bank of Nigeria, the Investor & Exporter FX window saw a turnover of $53.02 million on Friday.
On Thursday, the CBN removed the prohibition on importers of 43 goods that were prohibited from using its official platform to get foreign currency.
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This was revealed in a statement signed by Isa AbdulMumin, Director of Corporate Communications, and headed “CBN restates commitment to boost liquidity in forex market.”
“The 2015 circular referenced TED/FEM/FPC/GEN/01/010 and its addenda let importers of all 43 items previously barred to obtain foreign exchange on the Nigerian foreign exchange market,” the statement stated.

Data obtained from the FMDQ on Friday showed that turnover on the official trading platform did not improve, with $53.02 million transacted compared to Tuesday’s $60.30 million.
On Thursday, the value of the naira increased little, trading at 764.86/$ instead of 766.70/$.
“In our view, while this is another step forward, we think FX liquidity should take prominence to avoid further FX pressures at the official and parallel markets, more so that the FX queue will now be longer at the official market without liquidity,” Cordros Securities analysts wrote in a report on Friday regarding the lifting of the forex ban.
On Thursday, the value of the naira increased little, trading at 764.86/$ instead of 766.70/$.
“In our view, while this is another step forward, we think FX liquidity should take prominence to avoid further FX pressures at the official and parallel markets, more so that the FX queue will now be longer at the official market without liquidity,” Cordros Securities analysts wrote in a report on Friday regarding the lifting of the forex ban.
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