CBN RT 200 FX PROGRAMME Get up to ₦65 for every $1 repatriated and sold at the Investors & Exporters FX Window
The Central Bank of Nigeria (CBN) recently introduced the “Race to US$ 200 Billion In FX Repatriation (RT200 FX)” Programme. It is designed to improve the inflow of stable and sustainable foreign exchange into the market.
This programme aims to raise USD200 billion in Foreign Exchange earnings over the next 3-5 years from non-oil proceeds.
How Does It Work?
The CBN will pay exporters N65 for every US1 repatriated and sold to Authorised Dealer Banks (ADBs) through the Investors & Exporters FX Window for third party use.
The CBN will pay ₦35 for every US$1 repatriated and sold into the I&E Window for "own" use on eligible transactions (the spread should not be more than 10 Kobo).
Incentives will be paid quarterly.
Who Is Eligible To Benefit?
You may benefit from this scheme if you export:
Non-oil made in Nigeria goods
Permissible goods and services in IT and Creative businesses
Registration with the Corporate Affairs Commission (CAC) and the Nigerian Export Promotion Council (NEPC) is also required.
Application Requirement
A written request from the Exporter
Documentation requirement for exports
Evidence of repatriation and sale of export proceeds at the I&E window
Any other document as may be required by the CBN
How do I apply?
Request to participate in the RT200 FX Programmed can be made using the e-Form NXP on the CBN's trade monitoring portal and processed through Authorised Dealer Bank (ADBs).
Please note that all processed applications shall be for CBN's consideration through the Office of the Director, Trade and Exchange.
