Apparently worried by the upsurge in importation of wheat into the country, the Federal Government has commenced moved to probe the activities of wheat importers.
Our correspondent gathered last week that the finance ministry has already directed the Central Bank of Nigeria (CBN) to commence investigations into importation of wheat into the country between 2009 and 2012.
And in swift response to the directive, the CBN has in- turn directed all foreign exchange authourised dealers to provide all documents relating to wheat importation from January 2009 to date.
Apparently worried by the upsurge in importation of wheat into the country, the Federal Government has commenced moved to probe the activities of wheat importers.
Our correspondent gathered last week that the finance ministry has already directed the Central Bank of Nigeria (CBN) to commence investigations into importation of wheat into the country between 2009 and 2012.
And in swift response to the directive, the CBN has in- turn directed all foreign exchange authourised dealers to provide all documents relating to wheat importation from January 2009 to date.
A copy of the circular which was signed by one N. T Igba for Director, Trade and Exchange Department and which was sighted by our correspondent last week specifically urged all the affected forex dealers to “comply accordingly; failing which appropriate sanction would be imposed.”
Shipping Position Daily recalls that government had earlier indicated its determination to ensure a 10 per cent cassava flour substitution for wheat flour in the baking of bread and allied products to enable the country save at least N63.5 billion in foreign exchange annually.
The apex bank had earlier announced the ban on importation of cassava flour, effective March 31, 2012, to encourage the substitution of high quality cassava flour with wheat flour in bread making.
This came about after it was revealed that in 2011, Nigeria spent N635 billion on the importation of wheat.
But figures of wheat importation through Lagos ports alone that was obtained by our correspondent last week revealed that despite Government’s move to ban the importation of wheat, the Lagos port and the Tin Can Island port both received ships loaded with 291,125 metric tonnes of commodity in March alone.
Apapa Bulk Terminal Limited [ABTL] recorded the highest metric tonnes of 183,731 import of the commodity.
According to documents given to Shipping Position Daily, Josepdam terminal at Tin Can Island port received 77,350 metric tonnes of wheat
Green view Development Nigeria Limited [GDNL] and Standard Flour Mills [SFM] both handled a vessel each with a combined 30,020 metric tonnes of wheat.
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