Central Bank of Nigeria has released its payment of N35 per dollar repatriated by exporter under its RT200 scheme. The scheme is to encourage exporters to bring back to the country proceeds of their exports. In advisory to customers some of the banks said “In line with our promise to keep you updated about changes that may affect services you have access to, please be informed that the Central Bank of Nigeria (CBN) has introduced the guidelines for the implementation of the RT200 Non-Oil Export Rebate Scheme.
“The scheme is designed to incentivise exporters in the Non-Oil export sector to repatriate and sell their export proceeds to Authorised Dealer Banks ( ADB). Only exporters of finished and semi-finished goods are eligible for this incentive. The scheme shall pay ₦65 for every US$1 repatriated and sold at the I&E Window to ADBs for other third party use and ₦35 for every US$1 repatriated and sold into the I&E for own use on eligible transactions only. Payment of the incentive shall be made on a quarterly basis.”
