The Central Bank of Nigeria (CBN) has approved emergency importation of maize to boost food Security and end hunger in Nigeria. The CBN approved the importation of 262,000 tons maize into Nigeria
The Nigeria Customs Service has confirmed 4 companies namely Premier Feeds Company Limited, Wacot Limited, Chi farms Limited and Crown Flour Mills Limited.
According to Nairamanics, the information was disclosed in a memo with reference number: NCS/T&T/I&E/021/S.93/VOL on Thursday signed by the Deputy Comptroller General, T.M ISA
The letter said, “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 underlisted companies to import maize in the quantities stated below”.
The memo also noted the banks to conduct the transactions with, the names of the companies, and the quantity each company is approved to import.
Premier Feeds Company Limited got the highest capacity approval at 120,000 tons and will bank with Zenith Bank for the transaction.
Wacot Limited, approved to import 60,000 tons , conducting half of the approved capacity with Citi Bank and Titan Trust Bank respectively.
Chi Farms Limited will import 60,000 tons of maize banking with Titan Trust Limited.
Crown Flour Mills, with the lowest capacity approval, would import 22,000 tons via Coronation Bank.
The Nigeria Customs Service warned that only the above 4 companies are allowed to import maize into the country and the exercise would run strictly from August to October.