On 25^th February 2022, the Central Bank of Nigeria (CBN), in a concerted effort to reduce exposure to volatile sources of Foreign Exchange (FX) and to earn more stable and sustainable inflows introduced the RT200 Programme. According to the Regulator, the Programme is a rebate scheme aimed at raising 200 billion Dollars in FX earnings from non-oil proceeds over the next five years. The CBN noted that the essence of the scheme is to provide incentive for non-oil exporters to encourage repatriation and sale of export proceeds in the FX Market to achieve more stable and sustainable inflows of FX, in order to insulate the Nigerian economy from FX shocks and shortages.

Objectives of the Scheme

According to the Guidelines, the Rebate Scheme is aimed at enhancing FX inflow, diversifying the source of FX inflow, increasing the level of contribution of non-oil exports, ensuring stability and sustainability of FX inflows and supporting export-oriented companies to expand their export operations and capabilities.

Read More