Adegbite told the News Agency of Nigeria (NAN) on Wednesday in Ota,
Ogun, that such a decision would effective help the Small and Medium
Enterprises ( SMEs) to import raw materials and boost the economy.
The CBN, through its Acting Director, Corporate Communication
Department, Mr Isaac Okorafor, on Monday in Abuja, announced that the
apex bank had opened a special window of $20,000 quarterly for SMEs to
enable them to import eligible finished and semi-finished items into the
country.
The bank also said that its special intervention became necessary
after finding out many SMEs were being crowded out of the foreign
exchange market (Forex).
According to Adegbite, the new special window by the CBN is not
sufficient for the SMEs to import eligible finished and semi-finished
items into the country.
“The new special windows just introduced for the SMEs by the apex
bank was too nominal and small for them to import goods into the
country,” he said.
The chairman said that an upward review of the intervention by the
CBN would stimulate activities of SMEs that would further generate
employment opportunities.
Adegbite also emphasised the need for the CBN to open another special
window for manufacturers to enable them to operate optimally since the
$60,000 incentive had been discontinued.
“The SMEs and manufacturers form the bedrock of any nation because
they play vital roles in economic development as well as providing jobs
for the people.” (NAN)
