The Central Bank of Nigeria, CBN says it is committed to drive policies that will impact on the lives and well-being of Nigerians.

The CBN Director, Corporate Communication Department, Isaac Okorafor in a statement said the bank was not unaware that some of its policies might hurt some business interests but CBN remained focused on the overarching welfare of the masses.

CBN Director, Corporate Communication Department, Isaac Okorafor

He explained that Nigeria and the welfare of all Nigerians came first in all the policy considerations, being an apolitical organisation. He said the planned policy to put restriction on sale of forex for the importation of milk from the Nigerian foreign exchange market was aimed at promoting local production of milk in the country.

According Okorafor, some interests, who feel hurt by the planned policy to boost local production of milk are misleading the public on social media by misrepresenting the case for investments in local milk production.

The Spokesperson said for the avoidance of doubt, milk importation was not banned as the apex bank had no such power.