• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Currencies

As Naira Crashes to N730/$, CBN says its RT200 FX Programme has started yielding the expected result

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
October 7, 2022
in Currencies, Markets, Monetary Policy
CBN, Osita Nwanisobi
Share on FacebookShare on TwitterShare on Linkedin

The Central Bank of Nigeria (CBN) stated that the RT200 FX Programme has begun to provide the intended results despite the Naira’s huge decline.

Mr Osita Nwanisobi, CBN’s Director, of Corporate Communications, announced this on Thursday at the apex bank’s special day at the 17th Abuja International Trade Fair.

The CBN RT200 FX Programme aims to increase earnings from consistent and sustained foreign exchange inflows. Nonetheless, a cursory inspection of the data reveals that the exchange rate has depreciated significantly since the policy’s debut in February 2022.

RelatedStories

CBN, forex

Court upholds CBN-backed NIBSS Authority to manage BVN Database nationwide 

July 4, 2025
CBN, forex

Credit to Private sector slips marginally to N77.83 trillion in May 2025 despite surging money supply 

July 3, 2025

The Naira was trading at N575/$ against the dollar at the time the RT200 FX Programme was introduced. The Naira is now trading around N730/$.

What the CBN is saying

Nwanisobi, who was represented by Samuel Okogbue, the Acting Director, Corporate Communications, said “The CBN, in collaboration with the Bankers’ Committee, in February, initiated the RT200 FX Programme aimed at boosting earnings of stable and sustainable inflows of foreign exchange.”

He added, “our records show that the initiative has started yielding the expected result.”

“Importers and exporters have been taking advantage of the incentive of N65 for every dollar repatriated and sold at the I&E window. They also get N35 for every dollar repatriated for their use on eligible transactions,” he said.

He also stated that the CBN had started initiatives geared at improving the fortunes of SMEs throughout the years.
He mentions the SMEs Credit Guarantee Scheme (SMECGS) and the Micro, Small, and Medium Enterprises Development Fund (MSMEDF).

He said, “There are also the Youth Enterprises Development Programme and the Agribusiness/Small and Medium Enterprises Scheme (AGSMEIS). Similarly, the CBN initiated Entrepreneurship Development Centres (EDCs), National Collateral Registry (NCR), the Creative Industry Financing Initiative (CIFI), the Targeted Credit Facility (TCF) and the Nigerian Youth Investment Fund (NYIF),”

Another initiative he mentioned was the Tertiary Institutions Entrepreneurship Scheme (TIES).

He added that the apex bank had also taken attempts to build a market for non-oil goods.

According to the director, the apex bank has given N66.99 billion to 12 new industry and agriculture projects under the Real Sector Support Facility (RSSF).

He stated that the total disbursement under RSSF was N2.10 trillion, which was distributed to 426 projects across the country.

“Recently, N20.17 billion was disbursed to 14 projects in healthcare, manufacturing and services, bringing the cumulative disbursement under the 100 for 100 Policy on Production and Productivity (PPP) to N93.39 billion to 62 projects,” he said.

What you should know

The initiative which is under the apex bank’s RT200 FX Programme which stands for the “Race to US$200 billion in FX Repatriation”, is a set of policies, plans and programmes for non-oil exports that will enable Nigeria to attain a lofty yet attainable goal of US$200 billion in FX repatriation, exclusively from non-oil exports, over the next 3-5 years.

The RT200 Programme is expected to have 5 key anchors namely; Value-Adding Exports Facility, Non-Oil Commodities Expansion Facility, Non-Oil FX Rebate Scheme, a Dedicated Non-Oil Export Terminal and Biannual Non-Oil Export Summit

Based on the CBN guidelines for the RT200 scheme, which entails the apex bank paying N65 for every US$1 repatriated and sold at the Investors and Exporters Window.

In April, Godwin Emefiele, the Governor of the Central Bank of Nigeria, ordered the immediate release of N3.5 billion in rebates to 150 exporters who took part in the Race to $200 billion scheme, otherwise known as RT200 FX Programme.


Follow us for Breaking News and Market Intelligence.
Tags: CBNRT200 FX Programme scheme
Ubah Jeremiah Ifeanyi

Ubah Jeremiah Ifeanyi

For further inquiries about this article, contact: Email: Ifeanyi.ubah@nairametrics.com Twitter: @ubahjc Linkedln: Jeremiah Ubah

Related Posts

CBN, forex
Breaking News

Court upholds CBN-backed NIBSS Authority to manage BVN Database nationwide 

July 4, 2025
CBN, forex
Financial Services

Credit to Private sector slips marginally to N77.83 trillion in May 2025 despite surging money supply 

July 3, 2025
CBN, forex
Financial Services

Nigeria’s FDI drops by 19% to $250 million in Q1 2025 – CBN 

June 27, 2025
CBN Governor Yemi Cardoso to be honoured at Nairametrics Capital Market Awards for monetary policy reforms and banking sector recapitalization 
Financial Services

Focus on ‘African-led, African-owned’ growth, digital transformation – Cardoso tells African leaders at Afreximbank AGM 

June 25, 2025
Naira , dollar, exchange rate
Currencies

Exchange rate disparity returns as Naira appreciates to N1,545/$ officially, depreciates to N1,605/$ on parallel market 

June 21, 2025
Ugodre Obi-Chukwu named EY Entrepreneur (emerging category) of the year 2023
Financial Services

Banking sector sell-offs present buying opportunity — Nairametrics CEO, Ugodre Obi-Chukwu 

June 19, 2025
Next Post
Why Nigerian government needs to pay attention to cryptocurrencies—Patricia CEO, Hanu Fejiro

Why Nigerian government needs to pay attention to cryptocurrencies—Patricia CEO, Hanu Fejiro

Comments 1

  1. Chris says:
    October 9, 2022 at 12:51 pm

    The monetary policy’s led cbn governor has turned nigeria to the worst economy in the whole world. Useless set of people.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Nigeria’s top 10 stockbrokers by value of transactions in second quarter 2025 
  • Champion Breweries shares up 246.46% — How other beer companies are performing in 2025 
  • Rwanda reaffirms commitment to strengthening trade, aviation, and ICT ties with Nigeria 

Follow us on social media:

Recent News

Nigeria’s top 10 stockbrokers by value of transactions in second quarter 2025 

July 5, 2025
Champion Breweries Plc

Champion Breweries shares up 246.46% — How other beer companies are performing in 2025 

July 5, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics