In One Month, CBN’s FX Programme Rakes In $60m

The Central Bank of Nigeria’s (CBN) forex programme has raked in $60 million after one month of active implementation.

Managing Director of Fidelity Bank, Nneka Onyeali-Ikpe, made this known while briefing the media at the end of the Bankers Committee meeting in Abuja on Thursday.

reports have it that the RT 200 forex repatriation programme of the CBN is targeted at attracting $200 billion in forex repatriation into the country through the non-oil sector in the next five years.

Under the programme, the CBN says it is ready to prioritise and finance non-oil export businesses as banks are also to source the forex needs of their customers from the export window.

Speaking further, Onyeali-Ikpe stated that a total of 150 exporters who are customers of banks in the country have received N35 million as a rebate into their accounts on Wednesday.

The Fidelity bank boss added that the money was only released on Thursday for this quarter and it is going to be paid quarterly.


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