Abstract:The Central Bank of Nigeria’s (CBN) efforts towards actualising $200 billion in Foreign Exchange (FX) repatriation from non-oil exports over the next five years have been given a major boost with a recently held workshop for exporters and investors in Akure, Ondo State.
The Central Bank of Nigerias (CBN) efforts towards actualising $200 billion in Foreign Exchange (FX) repatriation from non-oil exports over the next five years have been given a major boost with a recently held workshop for exporters and investors in Akure, Ondo State.
Hosted by Fidelity Bank Plc, the workshop tagged, Harnessing Export Business Opportunities, CBN RT200 FX Policy: Policy Sensitisation, Emerging Sector Issues & Implications to Business, had in attendance representatives from key stakeholders in the Nigerian financial services and export industries.
Also in attendance were representatives from the Nigerian Export and Import Bank (NEXIM), the Cocoa Exporters Association of Nigeria, the Nigerian Export Promotion Council (NEPC) amongst others.
Speaking on the need for strategic planning in the non-oil sector, Head of Export and Agric Businesses at Fidelity Bank, Isaiah Ndukwe, said the bank is well positioned to advance the CBN policy thrust to reduce the countrys dependence on oil revenue.
He stated that the bank is committed to growing the export business across key sectors of the economy by providing support to exporters.
Isaiah emphasized that the new policy will not only reshape exporters mindsets, but will also infuse value addition on their commodities, allowing them to earn more forex.
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.
The U.S. Federal Reserve's repeated rate cuts and the narrowing of the U.S.-Japan interest rate differential are now in sight. So, why is the U.S.-Japan interest rate differential so important for the yen’s safe-haven appeal, especially when global economic uncertainty rises?
A 44-year-old Malaysian businessman, Wong Kai Lai, died after being attacked by about 20 men in Jenjarom, Kuala Langat, on 19 December. Police believe the attack may have been linked to a foreign currency exchange dispute.
Attention, both Forex novices and experts! The opportunity has arrived! Every week, we will select popular posts and outstanding comments. 10 winners of the posting activity will each receive 20 USDT, and 20 comment winners will each receive 15 USDT! Not only are there cash rewards, but your ideas will also inspire more partners to share their Forex insights!
The SEC unveils draft guidelines for crypto-asset services in the Philippines, strengthening licensing, compliance, and investor protection for 2025 and beyond.