Governor of the Central Bank of Nigeria, Godwin Emefiele, announced the introduction of the bank’s RT200 FX program to boost the country’s foreign exchange inflow through non-oil exports. The RT200 FX policy stands for the ‘Race To $200billion in FX Repatriation into Nigeria’.
“The era is coming to an end when, because your customers need $100 million in foreign exchange or $200 million, you now want to pack all the dollars and pass it to CBN to give you dollars”, said Emefiele.