CBN: RT200 Strategy Will Increase Exports Of Goods.

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The CBN’s RT200 FX program intends to generate $200 billion in forex profits from non-oil proceeds over the course of the following three to five years. The Non-Oil Export Proceeds Repatriation Rebate Scheme is a significant program pillar.

Therefore, the goal is to motivate exporters to bring their money home. Many exporters choose not to return their money, and the goal of RT200 is to promote the return of non-oil revenues.

According to UBA, it “facilitated $1. 34 billion (31%) in non-oil export volume in 2021”. Reiterating its position as Nigeria’s top export bank for the past three years.

By luring more foreign investors, the Nigerian capital market has a considerable impact on the nation’s sustainable foreign exchange revenues.  The 10-year Nigerian Capital Market Master Plan (2015-2025) was built around four strategic themes; one of which is to “promote competitiveness by establishing practices that improve transparency, efficiency and liquidity; and to attract sustainable interest in the capital market from domestic, as well as foreign investors and participants.”

ThisDayLive.

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