The Central Bank of Nigeria (CBN) has said it will begin the payment of N65 forex rebate to exporters who sold their goods through the importers and exporters (I&E) window at the end of the first quarter.
CBN governor, Godwin Emefiele said this after signing the term sheet between the Infrastructure Corporation of Nigeria (InfraCorp) and the independent asset managers on Friday in Lagos.
CBN in February said exporters would enjoy a rebate of N65 for every dollar of non-oil export proceeds sold to third parties at the I&E window.
This was during the announcement of policies, and plans, tagged ‘RT200 FX Programme’, to enable Nigeria earn $200 billion in foreign exchange repatriation from non-oil exports.
According to him, CBN, RT200 FX Programme stands for the Race to $200 billion in FX Repatriation.
Emefiele said,.”You will recall that we effectively started in March, but, I have said that by the latest, after the end of the quarter, we will issue cheques.
“We will make payments to all those who have exported, their proceeds have come in and they sold them through the I &E window to import goods and services into the country.