ONLINE BANKING
  • Online Banking
    • Personal
    • Corporate

    Login
    • Register
    • |
    • Open New Account

    Login
    • Register
    • |
    • Open New Account

OPEN AN ACCOUNT
  • Home
  • About Us
  • Investor Relations
  • Agric & Export
    • Fidelity EMP
    • Gallery
  • CSR
    • Health & Social Welfare
    • Education
    • Youth Empowerment
    • Environment
    • Sustainability
  • Media
    • Media Centre
    • Gallery
    • Magazine Publication
    • Blog
  • Contact
    • True Serve
    • Branch/ATM Locator
    • Frequently Asked Questions
    • Careers
    • Shareholder Enquiry
    • Information Security
    • Whistle Blowing
Menu
  • Home
  • About Us
  • Investor Relations
  • Agric & Export
    • Fidelity EMP
    • Gallery
  • CSR
    • Health & Social Welfare
    • Education
    • Youth Empowerment
    • Environment
    • Sustainability
  • Media
    • Media Centre
    • Gallery
    • Magazine Publication
    • Blog
  • Contact
    • True Serve
    • Branch/ATM Locator
    • Frequently Asked Questions
    • Careers
    • Shareholder Enquiry
    • Information Security
    • Whistle Blowing
Login
Search
Close
  • Personal Banking

    Personal Banking

    • Savings Account
    • Current Account
    • Diaspora Banking
    • Investment Services
    • Personal Loans
    • Money Transfer

    Self Services

    • Find a Branch or ATM
    • Loan Calculator
    • Open an Account
    • True Serve
    • Chat with Ivy
  • Digital Banking

    Digital Banking

    • Instant Banking (*770#)
    • Fidelity Cards
    • Fidelity Collections
    • Online Banking
    • Online Banking Mobile App

    Self Services

    • Find a Branch or ATM
    • Loan Calculator
    • Open an Account
    • True Serve
    • Chat with Ivy
  • SME Banking

    SME Banking

    • Low Cost Current Accounts
    • Fidelity SME Academy
    • SME Loans & Advances
    • Fidelity SME Forum
    • Open Account Online

    Self Services

    • Find a Branch or ATM
    • Loan Calculator
    • Open an Account
    • True Serve
    • Chat with Ivy
  • Corporate Banking

    Corporate Banking

    • Exchange Rate

    Self Services

    • Find a Branch or ATM
    • Loan Calculator
    • Open an Account
    • True Serve
    • Chat with Ivy
    Fidelity Bank Corporate Banking
  • Private Banking

    Private Banking

    • About Private Banking
    • Services
    • Testimonials
    • Contact Private Banking

    Self Services

    • Find a Branch or ATM
    • Loan Calculator
    • Open an Account
    • True Serve
    • Chat with Ivy
  • Personal
    • Savings Account
    • Current Account
    • Diaspora Banking
    • Investment Services
    • Personal Loans
    • Money Transfer
    • Self Services
      • Branch Locator
      • Loan Calculator
  • Digital
    • Online Banking
    • Online Banking App
    • Instant Banking *770#
    • Fidelity Card
    • PayGate
    • Fidelity POS
  • SME
    • Current Account
    • SME Loans
    • Fidelity SME Academy
    • Loan Calculator
  • Corporate
    • Exchange Rates
  • Private
    • About Us
    • Services
    • Testimonials
    • Contact Private Banking
  • Personal
    • Savings Account
    • Current Account
    • Diaspora Banking
    • Investment Services
    • Personal Loans
    • Money Transfer
    • Self Services
      • Branch Locator
      • Loan Calculator
  • Digital
    • Online Banking
    • Online Banking App
    • Instant Banking *770#
    • Fidelity Card
    • PayGate
    • Fidelity POS
  • SME
    • Current Account
    • SME Loans
    • Fidelity SME Academy
    • Loan Calculator
  • Corporate
    • Exchange Rates
  • Private
    • About Us
    • Services
    • Testimonials
    • Contact Private Banking
  • Individual Current Account
  • Premium Current Account
  • Bridge Account
  • Small Business Account (Individual)
  • Vintage Account
  • Individual Current Account
  • Premium Current Account
  • Bridge Account
  • Small Business Account (Individual)
  • Vintage Account

RT 200 FX Policy Programme

Race to $200 billion in FX Repatriation

GET STARTED
Download e-Form NXP
  • Background
  • How it Works
  • Eligibility
  • Requirement
  • How to Apply
  • Approval Process
  • Workshop

RT 200 FX Policy Programme

Background

The program was introduced with the aim of ensuring that Nigeria achieves the goal of $200 billion in FX repatriation, exclusively from non-oil exports in the next 3-5 years. The CBN is looking to bring in more foreign exchange for this country. This is to ensure that CBN conducts its obligations to ensure that Nigeria’s scarce resources are preserved, and the value of the currency is stabilised. The initiative was unveiled by CBN Governor Godwin Emefiele. 

The program comprises of 5 key components that could reach the goal of reaching $200 billion within the timeframe namely:

Value-Adding Exports Facility

This will provide grants and long-term funding for businesspeople who are interested in either expanding existing factories or building new ones for the sole purpose of adding significant value to the non-oil commodities. This value could be appreciated by realising that exporting unprocessed goods do not usually result to profit in foreign exchange.

Non-Oil Commodities Expansion Facility

These are facilities designed to boost local production of exportable commodities. This is to ensure that the new facilities and factories financed by the value-adding facilities are not starved of inputs of raw materials in their production cycle.

Non-Oil FX Rebate Scheme

This is a special local currency rebate for non-oil exporters of semi-finished and finished products who show evidence of export proceeds repatriation sold directly into the investors and exporter windows to boost liquidity in the market.

Non-Oil Export Terminal

This will reduce port congestion. A major issue highlighted by exporters that hinders improved operations and foreign exchange earnings. The new initiative from CBN urges State governments with existing ports to partner with bank to establish an export terminal and a friendly ecosystem of world class infrastructure needed for non-oil exports. Over the next 3-5 months, it is intended that banks will collect and analyse proposals from state governments willing to collaborate. Banks will provide a significant amount for financing whereas the responsibilities of state governments will be made clearer in time.

Biannual Non-Oil Export Summit

This is a more formal, predetermined, and regular proposed by the CBN to discuss opportunities and challenges in relation to the program. This will bring in all relevant stakeholders in the export business such as banks, customs etc. The Governor believes that the coming together of all relevant stakeholders and parties would be particularly important for the goal of $200 billion to be reached within the intended timeframe.

RT 200 FX Policy Programme

How Does It Work

The CBN will pay exporters ₦65 for every US1 repatriated and sold to approved Dealer Banks (ADBs) through the Investors & Exporters FX Window for third party use. 

The CBN will pay ₦35 for every US$1 repatriated and sold into the I&E Window for “own” use on eligible transactions (the spread should not be more than 10 Kobo).

Get Started

"*" indicates required fields

Full Name*
Click Here to open a Fidelity Account.
Consent*
*
This field is for validation purposes and should be left unchanged.

Payment of the incentive shall be made on quarterly basis.

The accounts of exporters that qualify for rebates shall be credited latest one week after the end of the quarter

GET IN TOUCH

RT 200 FX Policy Programme

How to be Eligible

Exporter of finished and semi-finished goods wholly or partly processed or manufactured in Nigeria, except otherwise stated by the CBN.

01

Export of Goods and Services (I.T. & Creative Businesses) that are permissible and excluded under existing export prohibition list.

02

Completion of e-Form NXP

e-Form NXP
03

Registration with CAC and Nigeria Export Promotion Council (NEPC)

04

Sale of repatriated export proceeds at the I & E Window

05
Fidelity Bank/Export and Sell

Export Seminar

Earn in Dollars by Exporting to the USA

LEARN MORE

RT 200 FX Policy Programme

Application Requirement

A written request from the Exporter

Documentation requirement for exports

Evidence of repatriation and sale of export proceeds at the I&E window 

Any other document as may be required by the CBN 

How to Apply

Submission of requests will be made through the ADB where the e-Form NXP was established. It is the responsibility of the ADB to authenticate all documents submitted for rebates.

Approval Process

All processed applications shall be for consideration of the CBN, through the Office of the Director, Trade and Exchange Department.

RT 200 FX Policy Programme

Fidelity Bank Involvement and Opportunities to Customers

As part of effort to sensitize Fidelity customers nationwide, help customers to stay on top of events and their businesses, Fidelity bank organized nationwide workshops on the new policy and other emerging sector issues. 

Workshop attendance include importers, exporters, state government officials and government agencies. The first wave of workshops was held Kano, Akure, Benin, and recently Lagos.

The Workshop objectives include:

Policy scoping and implications for businesses (importers and exporters). 

Fundamentals of export business and steer to enhance readiness of businesses to engage in export businesses transactions.

Provide pointers and steer to help import-oriented businesses develop alternative dollar supply source via export trade. 

Provide pointers and directions to help businesses enhance their competitiveness through export play e.g., driving improvements in processes, product design, packaging, and quality.

Reinforcement of the value addition imperative and steer on how to enhance internal capacities and competitiveness. 

Beyond, the topical issue of FX earnings, these foundations and business improvements put Nigerian businesses in better stead to compete in the wake of AFCFTA. 

RT 200 FX Policy Programme

Latest News

Fidelity Bank Deepens Exporters’ Capacity in Abuja
Export Management Programme (EMP) | Press Release

Fidelity Bank Deepens Exporters’ Capacity in Abuja

Learn more
Fidelity Bank to help Entrepreneurs Explore US Market
Export & Sell Workshop | Press Release

Fidelity Bank to help Entrepreneurs Explore US…

Learn more

Stay Close, We Are Always Here

Get In Touch

Banking

  • Personal Banking
  • SME Banking
  • Digital Banking
  • Corporate Banking
  • Private Banking
  • Diaspora Banking
  • Agric & Export Banking

About Fidelity

  • About Us
  • Careers
  • Investor Relations
  • CSR

Help & Support

  • True Serve
  • FAQ
  • Find a Branch or ATM
  • Whistle Blowing
  • Information Security

Quick Links

  • Online Banking
  • Loan Calculator
  • Media
  • Suspected Foreign Exchange Racketeers

Digital Channels

RC 103022. Copyright 2023 Fidelity Bank Plc. An authorised financial services and credit provider. Privacy Policy | Communication Policy | Terms and Conditions | Sitemap

This website uses cookies to provide you with the best browsing experience.

Find out more or adjust your settings.

  • Personal
  • Corporate

Login
  • Register
  • |
  • Open New Account

Login
  • Register
  • |
  • Open New Account

Personal
Corporate
Powered by Fidelity Bank Plc  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Click Here to read more about our privacy policy.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

3rd Party Cookies

This website uses Google Analytics and other scripts to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.

Please enable Strictly Necessary Cookies first so that we can save your preferences!

Data Privacy Policy

More information about our Data Privacy Policy