Nigeria repatriates $3.5bn 2 months after launching rebate scheme - Emefiele

Nigeria has recorded the sum of $3.5 billion in foreign exchange repatriation from exporters, two months after the launch of the RT200 non-oil export rebate scheme.

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) disclosed this on Thursday in Lagos at the RT200 non-oil export summit organized by the CBN and bankers committee.

Emefiele noted that over N3.5 billion has been paid to Exporters who brought in their export proceeds.

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In April 2022, the CBN released a total of N3.5 billion non-oil exports rebate to exporters through the banks, which are supporting the RT200 initiative.

Emefiele called on the stakeholders in the non-oil space to collaborate with the CBN and the banks to ensure enhanced export operations, which will result in foreign exchange inflows in the country.

Launched on February 10, 2022, by the apex bank as part of measures to reduce the increasing demand for foreign currency by importers, the RT200 FX Programme has been designed to reduce the excessive pressure on the exchange rate.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.