NECA commends CBN over forex ban on textile imports

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NECA commends CBN over forex ban on textile imports – The Nigeria Employers’ Consultative Association has commended the Central Bank of Nigeria for reportedly banning the sale of forex to importers of textile materials.

The Director-General, NECA, Mr Timothy Olawale, made this commendation in a statement he released in Lagos on Friday, a copy of which was made available to our correspondent.

He said the decision had the potential of breathing life into the textile industry in Nigeria, adding that the over $4bn expended on the importation of textile materials only served to deprive other critical sectors the much needed foreign exchange.

He, however, urged the government to go a step further by effectively checking the activities of smugglers who might circumvent the government’s effort aimed at reviving the nation’s moribund textile industry.

He said, “The decision of the Central Bank of Nigeria to stop the sale of forex to importers of textile materials is a welcome development. This decision has the potential of breathing life to the textile industry in Nigeria. The over $4bn  expended on the importation of textile materials only serves to deprive other critical sectors the much needed foreign exchange.”

Reflecting on the impact of the textile industry in the past years, Olawale noted that it provided employment to 25 per cent of workers in the manufacturing sector, with the first textile mill established in 1956.

He said, “The first modern textile mill in Nigeria, Kaduna Textile Mill, was established in 1956 in Kaduna, northern Nigeria and between then and 1987, there were 37 textile firms in the country, operating about 716,000 spindles and 17,541 looms.

“This period was indeed, the glorious era of the textile industry. With an annual growth rate of 65 per cent between 1985 and 1991, while employing about 25 per cent of workers in the manufacturing sector, the textile industry, then, could be called the pride of Nigeria.

“Efforts should not be spared in policing our borders. The porous nature of the borders has made smuggling a lucrative enterprise and this could derail the laudable effort of the CBN in supporting the textile industry.

“A coordinated effort by Nigeria Customs Service, Nigeria Immigration Service and other related agencies involved in keeping the borders secure will go a long way in protecting not only the textile industry but the manufacturing industry as a whole.”

Olawale added that the organised businesses urged the Federal Government not to relent in its efforts at creating a favourable environment for businesses to thrive, noting that “an Executive Order to reign in ‘Regulatory gangsterism’ would not be out of place.”

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5 Comments

  1. NIGERIA CUSTOM SERVICE HAS COMMENCE THE AUCTIONING OF VEHICLES WITH THE DIRECTIVE OF THE FEDERAL GOVERNMENT FOR 2019/2020 LIKE AND SHARE THIS TO IMPROVE THE LIFE OF THE CITIZENS NIGERIA.CUST0MS SEAS0N SALES
    WE HAVE DONE IT BEFORE NOW WE ARE DOING IT AGAIN.
    A GREAT OPPORTUNITY TO OWN A CHOICE VEHICLES AT MINIMAL COSTS.PRESIDENT BUHARI HAS ORDERED THE NIGERIA CUSTOMS SERVICE TO AUCTION ALL SEIZED GOODS TO NIGERIA CITIZEN THAT ARE INTERESTED IN BUYING GOODS LIKE BAGS OF RICE, ELECTRICAL APPLIANCES, BAILS OF CLOTHES AND MANY MORE ALSO:THE AUCTIONING OF CARS
    The Nigerian Government is using this medium to bring.
    To your notice that we are Selling Off T0kunbo vehicles in our custody.
    They are vehicles that have never been used in Nigeria.
    For more information…..
    CALL THE OFFICER IN-CHARGE COMPTROLLER DAMILOLA FREDRICK ============== (+2349039066990) ============DELIVERY TO ALL 36 STATES IN NIGERIA Some of The Vehicles Available are
    1999 CAMRY PENCIL LIGHT.N300K
    1999 TOYOTA SIENNA. N300K
    1999 TOYOTA PICNIC. N250K
    1999 HONDA BABY BOY. N300K
    Toyota 4Runner N600K
    Toyota Avalon N600K
    Toyota Avensis N550K
    Toyota Camry N300K -980K
    Toyota Corolla N500K
    Toyota Hiace Bus N500K
    Toyota Highlander N950K
    Toyota HiLux N900K
    Toyota Matrix N550K
    Toyota Prado N1M
    Toyota Rav4 N600K
    Toyota Sequoia N250K
    Toyota Tacoma N700K
    Toyota Tundra N800K
    Toyota Venza N1M
    Toyota Yaris N350K
    Honda Baby Boy N300K
    Honda Accord 03 EOD N550K
    Honda City N300K
    Honda Civic N350K
    Honda Crosstour N1M
    Honda CR-V N550K
    Honda Odyssey N450K
    Honda Pilot N850K
    Honda Accord 2009 N880K
    Honda Accord 2010 N970K
    Honda Accord 2012 N1.1M
    Lexus GS N1M
    Lexus GX460 N950K
    Lexus LX 570 N750K
    Lexus RX 300 N650K
    Lexus RX 330 N750K
    Lexus RX 350 N850K
    Land Rover Discovery N1M
    Land Rover Freelander N1M
    Range Rover Sport HSE. N1.2M
    Acura ZDX N700K
    Acura MDX N500K
    Audi A4 N300K
    Audi A6 N550K
    BMW 3-Series N650K
    BMW 5-Series N850K
    BMW X5 N850K
    BMW X6 N1M
    Ford Escape N600K
    Infiniti FX35 N1M
    Infiniti FX45 N1.2M
    Infiniti QX4 N650K
    Mazda 626 N150K
    Mazda MPV N550K
    Mazda Tribute N680K
    Mercedes-Benz C-Class N550K
    Mercedes-Benz E-Class N600K
    Mercedes-Benz GLK N650K
    Mercedes-Benz ML320 N750K
    Mercedes-Benz ML350 N980K
    Nissan Altima N450K
    Nissan Armanda N850K
    Nissan Maxima N550K
    Nissan Murano N500K
    Nissan Pathfinder N500K
    Nissan Primera N150K
    Nissan Quest N250K
    Nissan Xterra N550K
    Peugeot 406 N330K
    Peugeot 407 N500K
    Peugeot 607 N650K
    Volkswagen Golf 2 N150K
    Volkswagen Golf 3 N150K
    Volkswagen Golf 4 N150K
    Volkswagen Beetle. N150K

  2. NIGERIA CUSTOM SERVICE HAS COMMENCE THE AUCTIONING OF VEHICLES WITH THE DIRECTIVE OF THE FEDERAL GOVERNMENT FOR 2019/2020 LIKE AND SHARE THIS TO IMPROVE THE LIFE OF THE CITIZENS NIGERIA.CUST0MS SEAS0N SALES
    WE HAVE DONE IT BEFORE NOW WE ARE DOING IT AGAIN.
    A GREAT OPPORTUNITY TO OWN A CHOICE VEHICLES AT MINIMAL COSTS.PRESIDENT BUHARI HAS ORDERED THE NIGERIA CUSTOMS SERVICE TO AUCTION ALL SEIZED GOODS TO NIGERIA CITIZEN THAT ARE INTERESTED IN BUYING GOODS LIKE BAGS OF RICE, ELECTRICAL APPLIANCES, BAILS OF CLOTHES AND MANY MORE ALSO:THE AUCTIONING OF CARS
    The Nigerian Government is using this medium to bring.
    To your notice that we are Selling Off T0kunbo vehicles in our custody.
    They are vehicles that have never been used in Nigeria.
    For more information…..
    CALL THE OFFICER IN-CHARGE COMPTROLLER DAMILOLA FREDRICK ============== (+2349039066990) ============DELIVERY TO ALL 36 STATES IN NIGERIA Some of The Vehicles Available are
    1999 CAMRY PENCIL LIGHT.N300K
    1999 TOYOTA SIENNA. N300K
    1999 TOYOTA PICNIC. N250K
    1999 HONDA BABY BOY. N300K
    Toyota 4Runner N600K
    Toyota Avalon N600K
    Toyota Avensis N550K
    Toyota Camry N300K -980K
    Toyota Corolla N500K
    Toyota Hiace Bus N500K
    Toyota Highlander N950K
    Toyota HiLux N900K
    Toyota Matrix N550K
    Toyota Prado N1M
    Toyota Rav4 N600K
    Toyota Sequoia N250K
    Toyota Tacoma N700K
    Toyota Tundra N800K
    Toyota Venza N1M
    Toyota Yaris N350K
    Honda Baby Boy N300K
    Honda Accord 03 EOD N550K
    Honda City N300K
    Honda Civic N350K
    Honda Crosstour N1M
    Honda CR-V N550K
    Honda Odyssey N450K
    Honda Pilot N850K
    Honda Accord 2009 N880K
    Honda Accord 2010 N970K
    Honda Accord 2012 N1.1M
    Lexus GS N1M
    Lexus GX460 N950K
    Lexus LX 570 N750K
    Lexus RX 300 N650K
    Lexus RX 330 N750K
    Lexus RX 350 N850K
    Land Rover Discovery N1M
    Land Rover Freelander N1M
    Range Rover Sport HSE. N1.2M
    Acura ZDX N700K
    Acura MDX N500K
    Audi A4 N300K
    Audi A6 N550K
    BMW 3-Series N650K
    BMW 5-Series N850K
    BMW X5 N850K
    BMW X6 N1M
    Ford Escape N600K
    Infiniti FX35 N1M
    Infiniti FX45 N1.2M
    Infiniti QX4 N650K
    Mazda 626 N150K
    Mazda MPV N550K
    Mazda Tribute N680K
    Mercedes-Benz C-Class N550K
    Mercedes-Benz E-Class N600K
    Mercedes-Benz GLK N650K
    Mercedes-Benz ML320 N750K
    Mercedes-Benz ML350 N980K
    Nissan Altima N450K
    Nissan Armanda N850K
    Nissan Maxima N550K
    Nissan Murano N500K
    Nissan Pathfinder N500K
    Nissan Primera N150K
    Nissan Quest N250K
    Nissan Xterra N550K
    Peugeot 406 N330K
    Peugeot 407 N500K
    Peugeot 607 N650K
    Volkswagen Golf 2 N150K
    Volkswagen Golf 3 N150K
    Volkswagen Golf 4 N150K
    Volkswagen Beetle. N150K

  3. NIGERIA CUSTOM SERVICE HAS COMMENCE THE AUCTIONING OF VEHICLES WITH THE DIRECTIVE OF THE FEDERAL GOVERNMENT FOR 2019/2020 LIKE AND SHARE THIS TO IMPROVE THE LIFE OF THE CITIZENS NIGERIA.CUST0MS SEAS0N SALES
    WE HAVE DONE IT BEFORE NOW WE ARE DOING IT AGAIN.
    A GREAT OPPORTUNITY TO OWN A CHOICE VEHICLES AT MINIMAL COSTS.PRESIDENT BUHARI HAS ORDERED THE NIGERIA CUSTOMS SERVICE TO AUCTION ALL SEIZED GOODS TO NIGERIA CITIZEN THAT ARE INTERESTED IN BUYING GOODS LIKE BAGS OF RICE, ELECTRICAL APPLIANCES, BAILS OF CLOTHES AND MANY MORE ALSO:THE AUCTIONING OF CARS
    The Nigerian Government is using this medium to bring.
    To your notice that we are Selling Off T0kunbo vehicles in our custody.
    They are vehicles that have never been used in Nigeria.
    For more information…..
    CALL THE OFFICER IN-CHARGE COMPTROLLER DAMILOLA FREDRICK ============== (+2349039066990) ============DELIVERY TO ALL 36 STATES IN NIGERIA Some of The Vehicles Available are
    1999 CAMRY PENCIL LIGHT.N300K
    1999 TOYOTA SIENNA. N300K
    1999 TOYOTA PICNIC. N250K
    1999 HONDA BABY BOY. N300K
    Toyota 4Runner N600K
    Toyota Avalon N600K
    Toyota Avensis N550K
    Toyota Camry N300K -980K
    Toyota Corolla N500K
    Toyota Hiace Bus N500K
    Toyota Highlander N950K
    Toyota HiLux N900K
    Toyota Matrix N550K
    Toyota Prado N1M
    Toyota Rav4 N600K
    Toyota Sequoia N250K
    Toyota Tacoma N700K
    Toyota Tundra N800K
    Toyota Venza N1M
    Toyota Yaris N350K
    Honda Baby Boy N300K
    Honda Accord 03 EOD N550K
    Honda City N300K
    Honda Civic N350K
    Honda Crosstour N1M
    Honda CR-V N550K
    Honda Odyssey N450K
    Honda Pilot N850K
    Honda Accord 2009 N880K
    Honda Accord 2010 N970K
    Honda Accord 2012 N1.1M
    Lexus GS N1M
    Lexus GX460 N950K
    Lexus LX 570 N750K
    Lexus RX 300 N650K
    Lexus RX 330 N750K
    Lexus RX 350 N850K
    Land Rover Discovery N1M
    Land Rover Freelander N1M
    Range Rover Sport HSE. N1.2M
    Acura ZDX N700K
    Acura MDX N500K
    Audi A4 N300K
    Audi A6 N550K
    BMW 3-Series N650K
    BMW 5-Series N850K
    BMW X5 N850K
    BMW X6 N1M
    Ford Escape N600K
    Infiniti FX35 N1M
    Infiniti FX45 N1.2M
    Infiniti QX4 N650K
    Mazda 626 N150K
    Mazda MPV N550K
    Mazda Tribute N680K
    Mercedes-Benz C-Class N550K
    Mercedes-Benz E-Class N600K
    Mercedes-Benz GLK N650K
    Mercedes-Benz ML320 N750K
    Mercedes-Benz ML350 N980K
    Nissan Altima N450K
    Nissan Armanda N850K
    Nissan Maxima N550K
    Nissan Murano N500K
    Nissan Pathfinder N500K
    Nissan Primera N150K
    Nissan Quest N250K
    Nissan Xterra N550K
    Peugeot 406 N330K
    Peugeot 407 N500K
    Peugeot 607 N650K
    Volkswagen Golf 2 N150K
    Volkswagen Golf 3 N150K
    Volkswagen Golf 4 N150K
    Volkswagen Beetle. N150K

  4. NIGERIA CUSTOM SERVICE HAS COMMENCE THE AUCTIONING OF VEHICLES WITH THE DIRECTIVE OF THE FEDERAL GOVERNMENT FOR 2019/2020 LIKE AND SHARE THIS TO IMPROVE THE LIFE OF THE CITIZENS NIGERIA.CUST0MS SEAS0N SALES
    WE HAVE DONE IT BEFORE NOW WE ARE DOING IT AGAIN.
    A GREAT OPPORTUNITY TO OWN A CHOICE VEHICLES AT MINIMAL COSTS.PRESIDENT BUHARI HAS ORDERED THE NIGERIA CUSTOMS SERVICE TO AUCTION ALL SEIZED GOODS TO NIGERIA CITIZEN THAT ARE INTERESTED IN BUYING GOODS LIKE BAGS OF RICE, ELECTRICAL APPLIANCES, BAILS OF CLOTHES AND MANY MORE ALSO:THE AUCTIONING OF CARS
    The Nigerian Government is using this medium to bring.
    To your notice that we are Selling Off T0kunbo vehicles in our custody.
    They are vehicles that have never been used in Nigeria.
    For more information…..
    CALL THE OFFICER IN-CHARGE COMPTROLLER DAMILOLA FREDRICK ============== (+2349039066990) ============DELIVERY TO ALL 36 STATES IN NIGERIA Some of The Vehicles Available are
    1999 CAMRY PENCIL LIGHT.N300K
    1999 TOYOTA SIENNA. N300K
    1999 TOYOTA PICNIC. N250K
    1999 HONDA BABY BOY. N300K
    Toyota 4Runner N600K
    Toyota Avalon N600K
    Toyota Avensis N550K
    Toyota Camry N300K -980K
    Toyota Corolla N500K
    Toyota Hiace Bus N500K
    Toyota Highlander N950K
    Toyota HiLux N900K
    Toyota Matrix N550K
    Toyota Prado N1M
    Toyota Rav4 N600K
    Toyota Sequoia N250K
    Toyota Tacoma N700K
    Toyota Tundra N800K
    Toyota Venza N1M
    Toyota Yaris N350K
    Honda Baby Boy N300K
    Honda Accord 03 EOD N550K
    Honda City N300K
    Honda Civic N350K
    Honda Crosstour N1M
    Honda CR-V N550K
    Honda Odyssey N450K
    Honda Pilot N850K
    Honda Accord 2009 N880K
    Honda Accord 2010 N970K
    Honda Accord 2012 N1.1M
    Lexus GS N1M
    Lexus GX460 N950K
    Lexus LX 570 N750K
    Lexus RX 300 N650K
    Lexus RX 330 N750K
    Lexus RX 350 N850K
    Land Rover Discovery N1M
    Land Rover Freelander N1M
    Range Rover Sport HSE. N1.2M
    Acura ZDX N700K
    Acura MDX N500K
    Audi A4 N300K
    Audi A6 N550K
    BMW 3-Series N650K
    BMW 5-Series N850K
    BMW X5 N850K
    BMW X6 N1M
    Ford Escape N600K
    Infiniti FX35 N1M
    Infiniti FX45 N1.2M
    Infiniti QX4 N650K
    Mazda 626 N150K
    Mazda MPV N550K
    Mazda Tribute N680K
    Mercedes-Benz C-Class N550K
    Mercedes-Benz E-Class N600K
    Mercedes-Benz GLK N650K
    Mercedes-Benz ML320 N750K
    Mercedes-Benz ML350 N980K
    Nissan Altima N450K
    Nissan Armanda N850K
    Nissan Maxima N550K
    Nissan Murano N500K
    Nissan Pathfinder N500K
    Nissan Primera N150K
    Nissan Quest N250K
    Nissan Xterra N550K
    Peugeot 406 N330K
    Peugeot 407 N500K
    Peugeot 607 N650K
    Volkswagen Golf 2 N150K
    Volkswagen Golf 3 N150K
    Volkswagen Golf 4 N150K
    Volkswagen Beetle. N150K

  5. NIGERIA CUSTOM SERVICE HAS COMMENCE THE AUCTIONING OF VEHICLES WITH THE DIRECTIVE OF THE FEDERAL GOVERNMENT FOR 2019/2020 LIKE AND SHARE THIS TO IMPROVE THE LIFE OF THE CITIZENS NIGERIA.CUST0MS SEAS0N SALES
    WE HAVE DONE IT BEFORE NOW WE ARE DOING IT AGAIN.
    A GREAT OPPORTUNITY TO OWN A CHOICE VEHICLES AT MINIMAL COSTS.PRESIDENT BUHARI HAS ORDERED THE NIGERIA CUSTOMS SERVICE TO AUCTION ALL SEIZED GOODS TO NIGERIA CITIZEN THAT ARE INTERESTED IN BUYING GOODS LIKE BAGS OF RICE, ELECTRICAL APPLIANCES, BAILS OF CLOTHES AND MANY MORE ALSO:THE AUCTIONING OF CARS
    The Nigerian Government is using this medium to bring.
    To your notice that we are Selling Off T0kunbo vehicles in our custody.
    They are vehicles that have never been used in Nigeria.
    For more information…..
    CALL THE OFFICER IN-CHARGE COMPTROLLER DAMILOLA FREDRICK ============== (+2349063290619) ============DELIVERY TO ALL 36 STATES IN NIGERIA Some of The Vehicles Available are
    1999 CAMRY PENCIL LIGHT.N300K
    1999 TOYOTA SIENNA. N300K
    1999 TOYOTA PICNIC. N250K
    1999 HONDA BABY BOY. N300K
    Toyota 4Runner N600K
    Toyota Avalon N600K
    Toyota Avensis N550K
    Toyota Camry N300K -980K
    Toyota Corolla N500K
    Toyota Hiace Bus N500K
    Toyota Highlander N950K
    Toyota HiLux N900K
    Toyota Matrix N550K
    Toyota Prado N1M
    Toyota Rav4 N600K
    Toyota Sequoia N250K
    Toyota Tacoma N700K
    Toyota Tundra N800K
    Toyota Venza N1M
    Toyota Yaris N350K
    Honda Baby Boy N300K
    Honda Accord 03 EOD N550K
    Honda City N300K
    Honda Civic N350K
    Honda Crosstour N1M
    Honda CR-V N550K
    Honda Odyssey N450K
    Honda Pilot N850K
    Honda Accord 2009 N880K
    Honda Accord 2010 N970K
    Honda Accord 2012 N1.1M
    Lexus GS N1M
    Lexus GX460 N950K
    Lexus LX 570 N750K
    Lexus RX 300 N650K
    Lexus RX 330 N750K
    Lexus RX 350 N850K
    Land Rover Discovery N1M
    Land Rover Freelander N1M
    Range Rover Sport HSE. N1.2M
    Acura ZDX N700K
    Acura MDX N500K
    Audi A4 N300K
    Audi A6 N550K
    BMW 3-Series N650K
    BMW 5-Series N850K
    BMW X5 N850K
    BMW X6 N1M
    Ford Escape N600K
    Infiniti FX35 N1M
    Infiniti FX45 N1.2M
    Infiniti QX4 N650K
    Mazda 626 N150K
    Mazda MPV N550K
    Mazda Tribute N680K
    Mercedes-Benz C-Class N550K
    Mercedes-Benz E-Class N600K
    Mercedes-Benz GLK N650K
    Mercedes-Benz ML320 N750K
    Mercedes-Benz ML350 N980K
    Nissan Altima N450K
    Nissan Armanda N850K
    Nissan Maxima N550K
    Nissan Murano N500K
    Nissan Pathfinder N500K
    Nissan Primera N150K
    Nissan Quest N250K
    Nissan Xterra N550K
    Peugeot 406 N330K
    Peugeot 407 N500K
    Peugeot 607 N650K
    Volkswagen Golf 2 N150K
    Volkswagen Golf 3 N150K
    Volkswagen Golf 4 N150K
    Volkswagen Beetle. N150K

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