Regulatory Alerts2023-05-11 | TED/FEM/PUB/FPC/001/002Operating Guidelines for RT200 Non-Oil Export Proceeds Repatriation Rebate Scheme
The Central Bank of Nigeria has issued guidelines for the RT200 Non-Oil Export Proceeds Repatriation Rebate Scheme, offering a rebate of N25 for every USD$1 repatriated and sold on the Investors' & Exporters' Window for third-party use, and N15 for every USD$1 for own use. The scheme aims to encourage exporters of primary products to enhance their capacity and engage in value-added exports, with an effective implementation date of April 1, 2023.
09 46237831 TRADE & EXCHANGE DEPARTMENT 09 46237809 E-mail address: ted@cbn.gov.ng TED/FEM/PUB/FPC/001/002 May 10, 2023 TO: ALL AUTHORIZED DEALERS/ THE GENERAL PUBLIC RE: OPERATING GUIDELINES FOR RT200 NON-OIL EXPORT PROCEEDS REPATRIATION REBATE SCHEME Further to the circular dated February 25, 2022 referenced TED/FEM/FPC/GEN/01/002 on the above subject and the outcome of deliberations at the just concluded third edition of the RT200 Non-oil Export bi-annual Summit, the Central Bank of Nigeria wishes to state as follows:
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Export of products in their raw form shall be eligible for rebate.
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A rebate amount of N25 for every USD$1 repatriated and sold on the Investors' & Exporters' Window (I&E) for third party use shall apply; 3. While N15 for every USD$1 repatriated and sold on the Investors' & Exporters' Window (I&E) for own use shall apply.
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The effective date for implementation will be April 01, 2023 The payment of the graduated rebate amount is expected to encourage exporters of primary products enhance their capacity and eventually engage entral EANN OF King in value added exports.
All Authorised Dealers are to ensure strict compliance.
O.S. NNAJI ECTOR ADE AND EXCHANGE DEPARTMENT