{"id":989,"date":"2023-11-04T18:57:18","date_gmt":"2023-11-04T18:57:18","guid":{"rendered":"https:\/\/distinctcushy.com\/blog\/?p=989"},"modified":"2023-11-04T19:27:01","modified_gmt":"2023-11-04T19:27:01","slug":"central-bank-of-nigeria-cbn-lifts-forex-ban-on-43-items-imported-goods","status":"publish","type":"post","link":"https:\/\/distinctcushy.com\/blog\/central-bank-of-nigeria-cbn-lifts-forex-ban-on-43-items-imported-goods\/","title":{"rendered":"Central bank of Nigeria CBN lift Forex ban on 43 items imported goods"},"content":{"rendered":"
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Central Bank of Nigeria CBN lift Forex ban on 43 items imported goods<\/h2>\n

On 23rd of June, 2015, Central Bank of Nigeria published a circular that is the list of imported goods and items that will not be valid for Forex (Foreign Exchange) on the Nigeria Foreign Exchange platform. This has given some importers issues on how to get CBN approval to process Form M document in their Commercial Banks. <\/span><\/p>\n

This means that before the importer can process the Form M document, Central Bank has to give an approval letter that the importer has the required funds to purchase the items under that list.<\/span><\/p>\n

List of the 43 items that CBN lifts ban on with there HS code and Import duties Percentages<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
SN<\/th>\nItems<\/th>\nHS Code<\/th>\nImport Duties Percentages<\/th>\n<\/tr>\n<\/thead>\n
1.<\/td>\nRice<\/td>\n1006101000<\/p>\n

1006109000<\/p>\n

1006200000<\/p>\n

1006301000<\/p>\n

1006309000<\/p>\n

1006400000<\/p>\n<\/td>\n

5% No VAT<\/p>\n

5% No VAT<\/p>\n

10%, 20% LVY<\/p>\n

10%, 50% LVY<\/p>\n

10%, 50% LVY<\/p>\n

10%, 50% LVY<\/p>\n<\/td>\n<\/tr>\n

2.<\/td>\nMargarine<\/td>\n1517100000<\/td>\n20%\u00a0 + VAT, 20% LVY<\/td>\n<\/tr>\n
3<\/td>\nPalm Kernel\/Palm Oil Products\/Vegetable Oils<\/td>\n1513210000<\/p>\n

1513290000<\/p>\n

1516201000<\/p>\n

1516209000<\/p>\n

1511100000<\/p>\n<\/td>\n

10% + VAT<\/p>\n

20% + VAT<\/p>\n

10% + VAT<\/p>\n

10% + VAT<\/p>\n

10% + VAT<\/p>\n<\/td>\n<\/tr>\n

4.<\/td>\nMeat and Processed Meat Products<\/td>\n0201100000<\/p>\n

to<\/p>\n

0207600000<\/p>\n

0208100000<\/p>\n

to<\/p>\n

0210990000<\/p>\n<\/td>\n

35%, no VAT<\/p>\n

 <\/p>\n

 <\/p>\n

20% no VAT<\/p>\n<\/td>\n<\/tr>\n

5.<\/td>\nVegetables and Processed Vegetable Products<\/td>\n0601100000<\/p>\n

to<\/p>\n

0602900000<\/p>\n

0603110000<\/p>\n

to<\/p>\n

0604900000<\/p>\n<\/td>\n

5% + VAT<\/p>\n

 <\/p>\n

 <\/p>\n

20% + VAT<\/p>\n<\/td>\n<\/tr>\n

6.<\/td>\nPoultry Chicken, eggs, turkeys<\/td>\n0105990000<\/td>\n10% + VAT<\/td>\n<\/tr>\n
7.<\/td>\nCement<\/td>\n2523100000<\/p>\n

2523210000<\/p>\n

to<\/p>\n

2523900000<\/p>\n

 <\/p>\n<\/td>\n

10% + VAT<\/p>\n

 <\/p>\n

20% + VAT<\/p>\n

 <\/p>\n

 <\/p>\n<\/td>\n<\/tr>\n

8.<\/td>\nPrivate Airplanes\/Jets<\/td>\n8802212000<\/p>\n

to<\/p>\n

8802240000<\/p>\n<\/td>\n

5% No VAT<\/td>\n<\/tr>\n
9.<\/td>\nIndian Incense<\/td>\n3307410000<\/p>\n

to<\/p>\n

3307900000<\/p>\n<\/td>\n

20% + VAT<\/td>\n<\/tr>\n
10.<\/td>\nTinned fish in sauce (Geisha)\/Sardines<\/td>\n1604110000<\/p>\n

to<\/p>\n

1604320000<\/p>\n<\/td>\n

20% + VAT<\/td>\n<\/tr>\n
11.<\/td>\nCold rolled steel sheets<\/td>\n7209150000<\/p>\n

to<\/p>\n

7209160000<\/p>\n

7209170000<\/p>\n

to<\/p>\n

7209180000<\/p>\n

7209250000<\/p>\n

to<\/p>\n

7209260000<\/p>\n

7209270000<\/p>\n

to<\/p>\n

7209280000<\/p>\n

7209900000<\/p>\n

 <\/p>\n<\/td>\n

5% +VAT<\/p>\n

 <\/p>\n

 <\/p>\n

5% +VAT + 10% LVY<\/p>\n

 <\/p>\n

 <\/p>\n

10% + VAT<\/p>\n

 <\/p>\n

 <\/p>\n

10% +VAT + 10% LVY<\/p>\n

 <\/p>\n

10% +VAT<\/p>\n<\/td>\n<\/tr>\n

12.<\/td>\nGalvanized Steel sheets<\/td>\n7371110000<\/p>\n

7307009000<\/p>\n

to<\/p>\n

7307990000<\/p>\n<\/td>\n

10% +VAT<\/p>\n

 <\/p>\n

20% + VAT<\/p>\n

 <\/p>\n<\/td>\n<\/tr>\n

13.<\/td>\nRoofing sheets<\/td>\n7210490000<\/td>\n20% + VAT<\/td>\n<\/tr>\n
14.<\/td>\nWheelbarrows<\/td>\n8716802100<\/td>\n20% + VAT<\/td>\n<\/tr>\n
15.<\/td>\nHead Pans<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
16.<\/td>\nMetal boxes and containers<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
17.<\/td>\nEnamelware<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
18.<\/td>\nSteel drums<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
19.<\/td>\nSteel Pipes<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
20.<\/td>\nWire rods ( deformed and not deformed)<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
21.<\/td>\nIron roads\u00a0 and reinforcing Bars<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
22.<\/td>\nWire Mesh<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
23.<\/td>\nSteel Nails<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
24.<\/td>\nSecurity and razor Wire<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
25.<\/td>\nWood particles boards and panels<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
26.<\/td>\nWood Fibre boards and panels<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
27.<\/td>\nPlywood boards and panels<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
28.<\/td>\nWooden Doors<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
29.<\/td>\nFurnitures<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
30.<\/td>\nToothpicks<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
31.<\/td>\nGlass and Glassware<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
32.<\/td>\nKitchen Utensils<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
33.<\/td>\nTableware<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
34.<\/td>\nTiles - Vitrified and Ceramic<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
35.<\/td>\nTextiles<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
36.<\/td>\nWoven fabrics<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
37.<\/td>\nClothes<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
38.<\/td>\nPlastics and Rubber products,<\/p>\n

polypropylene granules,<\/p>\n

cellophane wrappers<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n
39.<\/td>\nSoap and cosmetics<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
40.<\/td>\nTomatoes\/Tomatoes Pastes<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
41.<\/td>\nEuro bond\/foreign currency bond\/share purchases<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
42.<\/td>\nMaize\/corn<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
43.<\/td>\nFertilizer<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

The above can be imported into the Country without CBN approval letter for your Form M issuance. This new policy may contribute to more availabilityof the products and the costs of purchase may be cheaper when importers have them in abundance.<\/p>\n

At Distinctcushy Global, we are fully ready to support you to ship and process all your customs clearance from any country to Nigeria. We can ship through airport or sea ports in Nigeria.<\/p>\n

Let's handle your next shipment to Lagos Nigeria <\/a><\/strong><\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"

Central Bank of Nigeria CBN lift Forex ban on 43 items imported goods On 23rd of June, 2015, Central Bank … Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[10,3,35,66,9,116,11],"tags":[133,134,58],"class_list":["post-989","post","type-post","status-publish","format-standard","hentry","category-customs-clearance","category-exportation-business","category-foreign-currency","category-freight-forwarding","category-import-business","category-international-business","category-logistics","tag-43-items-imported-goods","tag-cbn-lifts-ban-on-forex-ban-on-43-items","tag-imported-goods"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8SuTs-fX","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/distinctcushy.com\/blog\/wp-json\/wp\/v2\/posts\/989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/distinctcushy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/distinctcushy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/distinctcushy.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/distinctcushy.com\/blog\/wp-json\/wp\/v2\/comments?post=989"}],"version-history":[{"count":7,"href":"https:\/\/distinctcushy.com\/blog\/wp-json\/wp\/v2\/posts\/989\/revisions"}],"predecessor-version":[{"id":996,"href":"https:\/\/distinctcushy.com\/blog\/wp-json\/wp\/v2\/posts\/989\/revisions\/996"}],"wp:attachment":[{"href":"https:\/\/distinctcushy.com\/blog\/wp-json\/wp\/v2\/media?parent=989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/distinctcushy.com\/blog\/wp-json\/wp\/v2\/categories?post=989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/distinctcushy.com\/blog\/wp-json\/wp\/v2\/tags?post=989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}