Business and Brands
CBN to begin payment of N65 forex rebate to Nigerian exporters
CBN to begin payment of N65 forex rebate to Nigerian exporters

The Central Bank of Nigeria of Nigeria says it would begin payment of N65 rebate to exporters who sold their goods through the importers and exporters (I&E) window, at the end of the first quarter.
CBN Governor Godwin Emefiele said this shortly after signing the Term Sheet between the Infrastructure Corporation of Nigeria (InfraCorp) and the Independent Asset Managers, on Friday in Lagos.
The apex bank had in February announced policies, plans and programmes for non-oil exports that would enable Nigeria to earn 200 billion dollars in foreign exchange repatriation.
The RT200 FX Programme, which stands for the “Race to 200 billion dollars in FX Repatriation, is a set of policies for non-oil exports to enable Nigeria attain the goal of 200 billion dollars in FX repatriation.”
Mr Emefiele said, “you will recall that we effectively started in March, but, I have said that by the latest, after the end of the quarter, we will issue cheques.
“We will make payments to all those who have exported, their proceeds have come in and they sold them through the I&E window to import goods and services into the country.
“So, the first set of payment for the rebate will be done by next week and we are actually making it public so that Nigerians can know.
“And so that they can also encourage other exporters to say that the era when you export and your rebate never comes in five years, that that era is gone,” he said.
The CBN governor expressed the bank’s determination to ensure the success of the initiative, adding that the kind of numbers that the apex bank got from the banks showed the policy was working very well.
(NAN)

-
Top Stories23 hours ago
Mike Adenuga – Biography And Net Worth Of Mike Adenuga
-
Entertainment17 hours ago
Breaking: R. Kelly Sentenced To 30 Years In Sex Trafficking Case
-
Politics23 hours ago
Breaking: Senate Set Up Delegation To Visit UK Over Ekweremadu, Wife’s Arrest
-
Politics22 hours ago
Those Who Planned To Kill Me Have Been Freed By Buhari Govt – Ortom Fires FG
-
News17 hours ago
‘The spirit says I should go normal’- lawyer who dressed as a native doctor to court proceedings reverts to wigs(Photo)
-
Entertainment4 hours ago
BREAKING: Nollywood Actress, Funke Akindele Break Up With Husband, JJC Skillz
-
Jobs16 hours ago
Recruitment: Apply For Chevron Recruitment 2022
-
Gunmen2 hours ago
BREAKING: Three Officers Feared Killed As Gunmen Attack Police Checkpoint In Enugu