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FG Rolls out 30 billion Naira for Oil palm Production in Nigeria

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The Central Bank of Nigeria (CBN) has disbursed N30 billion to grease palm producers throughout the nation, the apex financial institution noted on Friday, Nigeria News Live.

Nigeria News Live reviews that the CBN Governor Godwin Emefiele revealed this in Abuja during a meeting with stakeholders in the Oil Palm trade.

Based on the CBN boss, the transfer is focused at making certain huge manufacturing of the oil palms in the nation.

He additionally noted that the CBN had began investigations into the accounts of suspected palm oil smugglers, vowing to punish culprits.

Emefiele stated he was under a strict presidential directive that palm oil importation should stop with the financial institution willing to help producers have enough for local consumption and export.

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