CBN facilitates release of 50,000 MT of Maize

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Court dismisses case against CBN’s directives on bank charges
Godwin Emefiele, CBN Governor.

Drops price of commodity

MONEY MARKET

The Central Bank of Nigeria (CBN) has made good its word, as it has released 50,000 metric tonnes of Maize into the Nigerian market.

The Bank’s February 2021 release of Maize in fulfilment of its pledge to reduce the price of the commodity, was done through the Anchor Borrowers’ Programme (ABP) to major poultry feed producers and poultry producers in the country.

The CBN facilitated release of the 50,000 metric tonnes of Maize in the second week of February, has made an impact as the Maize Market has recorded a reduction in price from  N200,000.00 per metric tonnes to about  N180,000.00 per metric tonnes. It is still anticipated that the current will further reduce.

Major  beneficiaries of the February release  include:  Premier Flour Mills, Crown – Olam, Grand Cereals, Animal Care, Amobyn and Hybrid Feeds. Others include Zartech, Wacot, Sayeed Farms, Pandagri Novum and Premium Farms as well as the…



Source: Vanguard Newspaper