In line with the Nigeria's Government drive to diversify its economy, the Central Bank of Nigeria has banned the importation of palm oil into the country.
Anyone caught smuggling the product now risk their accounts suspended and blacklisted.
CBN Governor Godwin Emefiele who read the riot act in Abuja at a meeting with some State Governors, Farmers and Stakeholders in the palm oil industry said the apex bank's Financial Intelligence Unit has started investigating those smuggling the product into the country.
