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Buhari dumps CBN policy, lifts forex ban on 41 restricted items

President-Muhammadu-Buhari1

The federal government is set to lift the forex ban it placed on some 41 items last year.

The 2017 Fiscal Policy Roadmap, a document released by Finance Minister Kemi Adeosun, explains how the pressure on the naira at the parallel market.

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

The minister stated that government would actively partner with the private sector to achieve this by use of a number of new funding platforms, including the Road Trust Fund, which would develop potentially tollable roads, and the Family Homes Fund, which is an ongoing PPP initiative for funding of affordable housing.

According to her, the tax provision that allows companies to receive tax relief for investment in roads on a collective basis would also be reviewed.

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