The Central Bank of Nigeria (CBN) has directed all authorized dealers to discontinue the processing of Form M for the importation of maize with immediate effect.The CBN said this in a circular signed by Dr. Ozoemena Nnaji, the Director of Trade and Exchange Department of the apex bank in Abuja.
Form M is a mandatory statutory document to be completed by all importers for importation of goods into Nigeria.
The Nigerian apex bank has also directed all authorised dealers to submit the list of form M already registered for the importation of maize.
According to the circular, the dealers concerned are expected to do so on or before close of business on Wednesday.
The CBN explained that the step taken was part of its efforts to increase local production and stimulate rapid economic recovery and safeguard rural livelihood and increase job, which had been lost due to ongoing COVID-19 pandemic.