• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, October 31, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

CBN Pays N42bn In RT200 Rebates

Partners NIBSS to launch domestic card scheme

by Mark Itsibor and Bukola Idowu
3 years ago
in Business
cbn
Share on WhatsAppShare on FacebookShare on XTelegram

Ten months after it was launched, the RT200 policy of the Central Bank of Nigeria (CBN)  has raked in $1.28 billion in foreign exchange into the country as over N42 billion has been paid out in rebates to exporters who facilitated their earnings through official window.

Advertisement

Also, in line with its mandate to promote stability, inclusion and growth in the financial and payment system, the apex announced the implementation of a National Domestic Card Scheme effective January 16, 2023.

This is as commercial banks in the country say they support the aggressive tightening stance of the apex bank in reining in inflation in the country. The Monetary Policy Committee had at its last meeting in September 2022, raised benchmark interest rate to an all time high of 15.5 per cent while Cash Reserve Requirement was raised to 32.5 per cent.

Advertisement

Speaking at a virtual press briefing at the end of the Bankers Committee meeting yesterday, the managing director/chief executive of Citibank Nigeria, Ireti Samuel-Ogbu, noted that at the end of the third quarter ending September 2022, “the total amount repatriated under the RT200 programme was $1.28 billion

“Out of that, the amount sold on the Investors’ and Exporters’ Window was $870 million. And then the amount in rebates, that was paid to corporates that had remitted the non-oil exports was N42 billion.

On her part, the managing director and chief executive of Lotus Bank, Mrs Kafilat Araoye, who also addressed journalists at the briefing stated that strong measures needed to be taken to rein in inflation which had soared to 20.77 per cent in September 2022.

RELATED NEWS

W/Bank Projects Commodity Prices To Hit 6-year Low As Oil Glut Expands

Tax Reforms Promise Inclusionary Growth, Enterprise Resilience For MSMEs

Shippers’ Council Decries Foreign Shipping Lines’ Peak Season Surcharges On Africa-bound Cargoes

Minister, Institute Partner To Cut 2.2m MT Nigeria Fish Deficit

 

Join Our WhatsApp Channel

Breaking News: Nigerians at home and abroad can now earn in USD by acquiring ultra-premium domains from $3,000 and profiting up to $36,000. Perfect for professionals. Click here.

SendShareTweetShare

OTHER NEWS UPDATES

Wanted: An African As World Bank Chief
Business

W/Bank Projects Commodity Prices To Hit 6-year Low As Oil Glut Expands

17 hours ago
Analysts Seek Effective Implementation Of Fiscal, Tax Reforms
Business

Tax Reforms Promise Inclusionary Growth, Enterprise Resilience For MSMEs

18 hours ago
Shippers’ Council Saves FG N46bn Loss In 1 Year
Business

Shippers’ Council Decries Foreign Shipping Lines’ Peak Season Surcharges On Africa-bound Cargoes

18 hours ago
Advertisement
Leadership join WhatsApp

LATEST UPDATE

You Have Fore-knowlege Of My Trial, Recuse Yourself, Lawyer Tells Judge

2 hours ago

Truck Crushes 5 Traders To Death In Ondo

3 hours ago

King Charles III Strips Prince Andrew of Title, Orders Him Out of Royal Lodge

3 hours ago

Forte GCC CEO Engr. Khalil Hails Keystone Bank MD Imam On Investiture As CIBN Fellow

4 hours ago

Governor Alia, Mary Ikoku, Others Win Awards At Accolade Africa Growth Summit In UK

4 hours ago
Load More

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.