The Central Bank of Nigeria (CBN) yesterday, revealed that its RT200 programme generated $1.20 billion from repatriations at the end of the third quarter (Q3) of 2022. This was even as the bank said it was working hard to drive the deployment of its National Domestic Card Scheme (NDCS) which will support micro payment and credit, e-government identity management, transportation, health sector and agriculture. The apex bank stated this during a briefing following a Bankers Committee meeting which held virtually in Lagos. Speaking on the ongoing implementation of the RT200 policy and its current run of progress, the Managing Director, Citi Bank, Ireti Samuel-Ogbu, stated that the RT200 scheme which was initiated by the CBN to generate $200 million of FX from Non-oil proceeds, is beginning to bear fruits, adding that at the end of Q3 2022, the total amount that was repatriated was $1.20billion. “At the end of Q3 2022, the total amount that was repatriated was $1.20 billion and out of that, the total amount sold into the I&E window was $870 million which ended up in terms of rebates that was paid by the CBN. You may be familiar that rebates are paid N65 to a dollar and so N42 billion in rebates has been paid in the third quarter.
Sun