CBN expresses commitment to forex expansion

By Sodiq Adelakun

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the banking sector was committed to expanding foreign exchange supply in the country.

He noted that the RT200 programme had made good progress in export proceed repatriation since its establishment in February 2022.

Emefiele said, “I want to assure you that the bank is committed to strengthening and expanding foreign exchange supply into the market.

“Naturally, you all are important in this clarion call of expanding the supply of foreign exchange inflow into the economy.

“For exporters, flying the flag of Nigeria in the international market, the Bankers’ Committee and the CBN stand ready to partner with you to achieve your goals.”

While speaking at the third edition of the biannual RTt200 non-oil export summit with the theme, ‘RT200: Challenges and prospects to success,’ in Lagos, he said the CBN decided to review the progress made so far, from inception of the programme in the first half of 2022 to date.

The programme, he added, aimed to x-ray the challenges and opportunities associated with the programme and proffer workable solutions for successful implementation of the programme for greater results going forward.