Godwin Emefiele CBN Governor
Godwin Emefiele CBN Governor

CBN Raises Alarms over Hardazous Imported Rice, Warns Against Hike in Price of Nigerian Rice

The Governor of the Central Bank of Nigeria. Mr. Godwin Emefiele (CON) has called on members of the Rice Millers Association of Nigeria, RIMAN, Rice Merchants and distributors not to increase the price of Rice because of boarder closure.

2. The Governor, who called on Rice Millers, Rice Merchants and distributors not to hoard Rice as a result of the closure of the boarders in order to increase prices, said that such acts were unpatriotic.

3. Emeliele said the closure of the boarders was meant to promote the growth of the Nigerian Economy and ensure that the country attains food self-sufficiency in the Rice value chain sector for the benefit and wellbeing of the citizens. He disclosed that imported Rice into the country are chemicalized for preservation and not good for consumption.

4. The Governor made this call during a meeting he held with RIMAN members and Rice Merchants and distributors at the CBN Corporate Headquarters in Abuja.

5. The CBN Governor who informed RIMAN and Rice Merchants that he had summoned the meeting in order to discuss issues on how to further increase Rice Production and discourage hoarding and Price Increase, requested Rice Millers to support government efforts in the Rice Value Chain Sector.

6. Mr. Emefiele who observed that horading Rice with a view to increase prices will only bring hardship to Nigerians, encourage Rice Smuggling that leads to capital flight and lots of jobs, added that CBN under his leadership will support Rice Millers in order to stem off smuggling in the country, and grow the Rice sector for food self-sufficiency in the Nation.

7. The CBN Governor called on all Nigerians to support the government action on closure of the boarder stating that government took the decision in the best interest of Nigerians as it’s meant to secure the country and at same secure the health of the citizens from heavily chemicalized products that is injurious to the health of our citizens.

8. Responding on behalf of RIMAN Members, Its Chairman, Mr. Peter Dama assured the CBN Governor of the support of its members on the Federal Government action on the closure of boarders. He advised that Government should never succumb to pressure to reverse the policy on the closure of the boarders.

9. Mr. Dama further called on all those in the Rice Value Chain Sector to support Government and on the boarder closure in order to further boast domestic production with a view to discouraging Smuggling and dependence on foreign foods.

10. The RIMAN Chairman thereafter canvased for financial support for RIMAN members to build up capacity and expand their milling activities in order to stimulate further growth in the Rice Sector.

11. On pending applications for financial interventions from RIMAN members Mr. Dama appealed that the CBN should intervene. The CBN Governor immediately gave marching orders to his team to look into the issues raised by RIMAN with the view of resolving them.


Mr. R.D Tijani
Media Assistant to RIMAN Chairman