CBN permits 6 dairy firms to import milk

The Central Bank of Nigeria (CBN) on Tuesday issued permit to six companies for the importation of milk, its derivatives and dairy products into the country.

The companies are FrieslandCampina WAMCO Nigeria, Chi Limited, TG Arla Dairy Products Limited, Promasidor Nigeria Limited, Nestle Nigeria Plc, and Integrated Dairies Limited.

In a circular with reference number, TED/FEM/FPC/GEN/01/002 dated February 11, 2020 and signed by the Director, Trade and Exchange Department CBN, Dr O.S NNAJI to all authorized dealers and the general public, the apex bank said it had engaged with some companies in the industry.

These companies it stated, have keyed into the Bank’s backward integration program to enhance their capacity and improve local milk production.

“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,” the circular read in part.

Accordingly, it wants all Authorised Dealers to note that all Forms ‘M’, for the importation of milk and its derivatives shall only be allowed for the six named companies.