Nigeria Investigates Textiles Smuggling
The Central Bank of Nigeria said that information was being collected to investigate individuals and enterprises involved in smuggling and dumping of textiles.
After completing the relevant investigation, the enterprises involved in illegal textile smuggling activities will be included in the blacklist.
The Central Bank of Nigeria will stipulate that all banks in the country must not engage in business dealings with enterprises or individuals listed on the list of textiles smuggled blacklists.
At present, Nigeria is organizing a special committee to reform cotton, textiles and clothing. It is estimated that cotton and textile production will be self sufficient within 5 years.
Members of the committee will include the Central Bank of Nigeria, the Ministry of agriculture and rural development, the Ministry of water resources, the Ministry of industry, trade and investment, and the governments of Kano, Katsina, Gombe and Zamfara.
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