CBN unveils N65/$ rebate for non-oil exporters

168


CBN unveils N65/$ rebate for non-oil exporters

By Babajide Komolafe, Economy Editor

Exporters will now enjoy a rebate of N65 for every dollar of Non-Oil export proceed sold to third parties  through the official foreign exchange market also known as the Investors and Exporter (I&E) window of the foreign exchange market.

The rebate is part of the benefits under the Non Oil Exports Proceed Repatriation Rebate Scheme unveiled by the Central Bank of Nigeria, CBN, yesterday.

The scheme is part of the RT200 FX programme recently introduced by the apex bank aimed at attracting $200 billion in foreign exchange earning from non oil exports proceeds over the next three to five years.

CBN announced details of the scheme in circular titled “Operating Guidelines for RT200 Non Oil Exports Proceed Repatriation Rebate Scheme”, released today, Friday.

The apex bank said the objectives of the scheme are to enhance foreign exchange inflow, diversify the sources of FX inflow, increase the level of contribution of non-oil…



Source: Vanguard Newspaper