NEXIM, CBN, AND OTHERS REITERATE COMMITMENT TO ENHANCED EXPORT EARNINGS

Central Bank of Nigeria (CBN), the Nigeria Export-Import (NEXIM) Bank, the Nigeria Sovereign Investment Authority (NSIA), and Heritage Bank PLC, have reaffirmed their commitment to production in order to increase the nation's export revenues.

They have pledged their support to the Finance Correspondents Association of Nigeria (FICAN), which will be bringing together bankers, relevant businesses, and manufacturers at its upcoming annual conference in 2022 to discuss issues affecting Nigeria's domestic productivity.

United Bank for Africa (UBA), Bank of Industry (BOI), Sterling Bank, Development Bank of Nigeria (DBN), Securities and Exchange Commission (SEC), the Assets Management Corporation of Nigeria (AMCON), and Strategic Effects Limited expressed interest

Other institutions include Sparkle Nigeria Limited, Union Bank, Polaris Bank, First City Monument Bank, and Wema Bank (SON).

Additionally expressing interest is the Nigerian Shippers Council, Securities and Exchange Commission (SEC), Bank of Industry (BOI), Starlink Nigeria Limited, and Fidelity Bank.

The theme of the conference, which is slated to take place in Lagos on September 17 and 18, 2022, is Boosting Domestic Capacity for Sustainable Export Earnings.

According to the statement, the media interactive session's sub-themes will be Effective Implementation of the CBN RT 200 FX Programme, Role of Standardization in Nigeria's Non-Oil Export, and Addressing Impediments to Commodity Exports. Experienced experts and leaders in the financial services sector will serve as panelists in the session.

The managing director/CEO of Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe, will give the keynote address; the guest speaker will be Mr. Ifie Sekibo, managing director/CEO of Heritage Bank Plc.

The CBN “RT200 FX Programme,” also known as the “Race to US$200 billion in FX Repatriation,” aims to repatriate $200 billion in FX over the course of the next three to five years in accordance with predetermined rules.

The CBN Governor ordered the disbursement of N3.5 billion in refunds to 150 exporters who had so far participated in the RT200 FX scheme early in April 2022, just two months after it was introduced. This suggests that the plan can be implemented.

If the right conditions are there, RT200 FX will revolutionize the way non-oil forex revenues are increased.

The panel discussion will feature representatives from the Central Bank of Nigeria, Fidelity Bank Plc, Heritage Bank Plc, NEXIM Bank, Nigeria Shippers Council, Nigerian Ports Authority (NPA), Manufacturers Association of Nigeria (MAN), SEC, and BOI, among other organizations.

The two-day event will take place at Orchid Hotels in Lekki, Lagos, at Plot 3 Dreamworld-Africana Way, Lekki (2nd Lekki Toll Gate).

The group representing journalists and business editors who cover the financial sector of the Nigerian economy is known as FICAN.

Over 150 journalists who work for print, broadcast, and online media outlets are members of the organization.

The Association's crucial capacity-building initiative, the Conference, aims to advance the nation's financial journalism industry.

As stated in the association's statement, Most importantly, by partnering with the association through sponsorship of the conference, organizations would be making great contributions to the development of media capacity, which in turn enhances news reporting of the financial sector and its operators.

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