Despite ban, CBN approves 4 firms to import 262,000 tons of maize

CBN Governor, Godwin Emefiele.
CBN Governor, Godwin Emefiele


The Central Bank of Nigeria (CBN) has granted approval to four firms, Wacot Limited, Chi farms Limited, Crown Flour Mills Limited and Premier Feeds Company Limited to import cumulatively 262,000 tons of maize into the country despite announcing a ban on maize importation.

Recall that the CBN had in August announced a ban on maize import, a decision it said was taken as part of effort to control imports and encourage local production.

The CBN’s approval was confirmed in a circular by the Nigeria Customs Service with reference number: NCS/T&T/I&E/021/S.93/VOL and signed by Deputy Comptroller General, Talatu Isa on behalf of the Comptroller General of Customs, a copy of which was sighted by SHIPS & PORTS.

The circular reads, “In line with the government’s policy on food security, sufficiency and striking a balance between food imports and local production capacities to meet anticipated shortfall, the Central Bank of Nigeria has granted approval for the under listed companies to import maize in the quantities stated below: 

Wacot Limited 30,000 tons, Citi Bank
30,000 tons; Chi Farms Limited 60,000 tons, Titan Trust Bank; Crown Flour Mills Limited 22,000 tons, Coronation Bank; Premier Feed Mills Limited 120,000 tons, Zenith Bank.

“Approval is strictly for the companies listed above and stemmed to the months of August, September and October alone. Given the clarification, all CACs are directed to note the above and approved companies and duration accordingly. Please be guided.”