Regulatory Alerts2020-02-11 | TED/FEM/FPC/GEN/01/002Milk and Dairy Products Importation
The Central Bank of Nigeria is restricting the importation of milk and dairy products to a select group of companies that have committed to increasing local production through a backward integration program. All authorized dealers are instructed to cancel any established Forms 'M' for the importation of milk and its derivatives for companies other than the specified list, for which shipment has not occurred. This measure aims to boost local production and enhance the capacity of the Nigerian dairy industry.
CENTRAL BANK OF NIGERIA Corporate Head Office Central Business District P.M.B. 0187, Garki, Abuja, FCT 09 46237804 TRADE AND EXCHANGE DEPARTMENT 09 46237802 E-mail address: ted@cbn.gov.ng TED/FEM/FPC/GEN/01/002 February 11, 2020 TO: ALL AUTHORISED DEALERS/ GENERAL PUBLIC
Milk And Dairy Products Importation
As part of efforts to increase local production of milk, its derivatives and dairy products, the Central Bank of Nigeria has engaged with some companies in the industry who have keyed into the Bank's backward integration program to enhance their capacity and improve local milk production.
Accordingly, all Authorised Dealers are to note that all Forms 'M', for the importation of milk and its derivatives shall only be allowed for the following companies:
- FrieslandCampina WAMCO Nigeria 2. Chi Limited 3. TG Arla Dairy Products Limited 4. Promasidor Nigeria Limited 5. Nestlé Nigeria PLC (MSK only)
- Integrated Dairies Limited For the avoidance of doubt, all established Forms 'M', for the importation of milk and its derivatives for companies other than the above for which shipment has not taken place should be cancelled immediately. Please ensure strict compliance.
DR. O.S NNAJI DIRECTOR TRADE AND EXCHANGE DEPARTMENT