CBN Restricts Milk Importation to Six Companies

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...
CBN Restricts Milk Importation to Six CompaniesCBN Restricts Milk Importation to Six Companies

The Central Bank of Nigeria (CBN) has added milk and dairy products to the list of items not eligible for forex.

However, the bank exempted six companies from the restriction.

“As part of efforts to increase local production of milk, its derivatives and dairy products, the Central Bank of Nigeria has engaged with some companies in the industry who have keyed into the bank’s backward integration program to enhance their capacity and improve local milk production,” a notice published on CBN’s website on Tuesday read.

“Accordingly, all authorized dealers are to note that all Forms ‘M’ for the importation of milk and its derivatives shall only be allowed for the following companies:

  • Friesland Campina WAMCO Nigeria
  • Chi Limited
  • TG Arla Dairy Products Limited
  • Promasidor Nigeria Limited
  • Nestle Nigeria Plc (MSK only)
  • Integrated Dairies Limited
Read:  Super Eagles Rated 19th Most Valuable National Team
- Advertisement -

“For the avoidance of doubt, all established Forms ‘M’ for the importation of milk and its derivatives for companies other than the above for which shipment has not taken place should be canceled immediately.”

The exempted companies have begun investments in local milk production as part of the central bank’s backward integration plan.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

5 COMMENTS

  1. […] https://brandspurng.com/2020/02/11/cbn-restricts-milk-importation-to-six-companies/ […]

  2. […] https://brandspurng.com/2020/02/11/cbn-restricts-milk-importation-to-six-companies/ […]

  3. […] https://brandspurng.com/2020/02/11/cbn-restricts-milk-importation-to-six-companies/ […]

  4. […] https://brandspurng.com/2020/02/11/cbn-restricts-milk-importation-to-six-companies/ #Streetvibe.com.ng […]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Uni-Bio Science Group Limited 2019 Announces Annual Results

Turnover Increased by 54.9% YoY to HK$209.4 millionRecording EBITDA of HK$28.4 millionAchieved Significant Progress towards Pipeline Product with 2...

Take the Emotion Beyond the Screen with the Philips OLED 804 TV

Lifelike imaging can only be experienced in pure 4K with UHD OLED Display SINGAPORE - Media OutReach - April 1, 2020 - The Philips OLED 804 TV is available...

Spire Education Launches High-Performance Classes for Students amid a Global Crisis Disrupting Education

Spire Education aims to provide exceptional teaching and revolutionize students’ enrichment. HONG KONG, CHINA - Media OutReach - 1 April 2020 - Spire Education is a revolutionary project...

Fashion Destination K11 MUSEA MUSE EDITION Launches First-Ever Global Fashion Venture K11|ANTONIA

Spread across 5,700 sq ft, the K11|ANTONIA flagship debuts at K11 MUSEA MUSE EDITION, the cutting-edge fashion destination for fashion insiders, with over 50...

Introducing SENTR™ by Primal: Asia’s First Campaign Management Platform (CMP)

Leading Local Agency Launches the Regions First Hybrid Customer Relationship Management and Project Management Tool KUALA LUMPUR, MALAYSIA - Media OutReach - 1 April 2020 -...
- Advertisement -
BrandsPur Weekly Cartoons
%d bloggers like this: