the Central Bank of Nigeria to blacklist any firm, its owner and top management
caught smuggling or dumping palm oil into the country.
by CBN Governor, Mr Godwin Emefiele, at a meeting with oil palm producers on
Friday in Abuja.
caught smuggling palm oil into the country would be blacklisted from all
banking businesses and would also be blocked from the foreign exchange market.
those coming newly into the oil business, credit facilities would be extended
to them through their banks and that Out-Grower schemes would also be
particularly because we found crude oil that even today by any analysis is
cheaper than palm oil, we decided to abandon our God-given gift – palm oil.
need to go back to those products where we have relatively competitive and