The Central Bank on Nigeria has restricted the importation of sugar into the country to three companies: BUA Sugar Refinery Ltd, Dangote Sugar Refinery Plc, and Golden Sugar Company.
Read Also : Breaking News: Senate Approves Buhari’s $8.3bn, €490m External Loan Request, Gives Reason.
The CBN stated the reason the three companies were the only ones allowed to import sugar into the country is because of their notable contribution to the backward integration programme introduced by the Federal Government.
It added that henceforth, no company outside the aforementioned three should import sugar into the country.
This was disclosed in a circular issued on Friday by the bank’s Director, Trade and Exchange Department, Dr Ozoemena Nnaji, with reference number.
Read Also : Just In: FG Gives 309.9bn Road Contract To Dangote For Construction Of Five Roads.