News

December 10, 2016

FG jettisons CBN 41 item exemption policy

FG jettisons CBN 41 item exemption policy

Minister of Finance, Mrs. Kemi Adeosun and Governor of the CBN, Mr.Godwin Emefiele,

By Emma Ujah, Abuja Bureau Chief
The federal government is to abolish the Central Bank’s 41 items exemption from foreign exchange market policy in its newly leased 2017 Fiscal policy Roadmap under.

The policy document prepared by the Minister of Finance, Mrs. Kemi Adeosun, will, instead, come up with fiscal measures to reduce pressure in the parallel market.

According to the document, the FG “will replace administrative measures on list of 41-items with fiscal measures to reduce demand pressure in parallel market.”

More details soon