The Central Bank of Nigeria (CBN) says exporters of raw and unprocessed goods will now enjoy a rebate for every dollar of non-oil export proceeds sold at the importers and exporters (I&E) window.
The Central Bank of Nigeria says exporters of raw and unprocessed items will now enjoy a rebate for every dollar of non-oil export proceeds sold at the importers and exporters window.Godwin Emefiele, CBN governor, spoke on Tuesday in Lagos at the RT200 Non-Oil Export Summit 2023.
aimed at attracting $200 billion in foreign exchange earning from non-oil exports proceeds over the next three to five years.of repatriated non-oil export proceeds was paid to only exporters of semi-finished and finished goods. “The reason why we initially decided that we would only pay a rebate for value-added products was to encourage exporters to move from just exporting crude items,” he said.“We wanted to create an opportunity to encourage you to set up an arrangement that processes these raw materials and creates job opportunities for our people rather than just exporting raw materials.”
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