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The News Beam
Home News Business & Economy

150 exporters get N3.5bn rebate for repatriating $60m under CBN’s RT 200 programme

April 14, 2022
in Business & Economy, News
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CBN Headquarters, @Abuja

CBN Headquarters, @Abuja

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150 exporters today received N3.5 billion as rebate from the Central Bank of Nigeria of Nigeria, CBN, for selling  $60 million export proceeds through the official Investors & Exporters foreign exchange window.

The rebate was paid to the exporters through their banks under CBN’s Race To $200 billion (RT 200) programme designed to raise  $200 billion FX earnings through non-oil proceeds over the next three to five years.

Managing Director/Chief Executive, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe, disclosed this while speaking on the performance of the RT 200 programme in the first quarter, Q1 ’21, at a virtual press briefing at the end of the Bankers Committee meeting held yesterday.

“There are 150 customers at various levels. Some under the finished goods categories and some under the  semi-finished goods categories.. The money was only released today for this quarter. It is going to be paid quarterly and N3.5 billion will be paid to the 150 customers that I mentioned earlier on.”

READ ALSO: You can earn N132bn exporting these 15 agric products

She added that  the CBN Governor, Mr. Gowin Emefiele, ordered the release of the rebate to the exporters today through their respective banks. 
Also in attendance at the press briefing were  the Managing Director/Chief Executive, MD/CEO of GTBank Limited, Miriam Olusanya; MD/CEO Sterling Bank Plc, Abubakar Suleiman; MD/CEO  Wema Bank Plc, Ademola Adebise; Director, Banking Supervision, CBN, Haruna Mustafa, and Director, Corporate Communication, CBN,  Osita Nwanisobi.

READ ALSO: Union Bank profitability falls by 19% to N20.5bn

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