The Central Bank of Nigeria, CBN, has granted approval to four agro-processing companies to import 262,000 tons of maize and corn in the bid to complement an anticipated shortfall of the commodity in the country.
This contained in an internal memo of the Nigeria Customs Service sighted by Premium Times.
Dated August 6, 2020, the memo was endorsed by the deputy comptroller–general, T.M Isa (Tariff and Trade).
The memo read: “In line with government 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 underlisted companies to import maize in the quantities stated below.”
According to the memo with reference number: NCS/T&T/I&E/021/S.93/VOL, the apex bank granted approval to Wacot and Chi Farms Limited to import maize of 60,000 tons each.
Two other companies, Crown Flour Mills and Premier Feed Mills Company Limited will also be importing maize of 22,000 and 120,000 tons respectively, within the period of these months (August, September and October).
“Note, approval is strictly for the four (4) companies listed above and stemmed to the months of August, September and October only,” the memo said.
“Given the clarification, all CACs are directed to note the companies, approved quantity, duration and jerquer accordingly.
“Please be guided,” the memo concluded.