CBN assures banks of forex sale as Bankers Committee approve N500bn annual lending to exporters
The Governor, Central Bank of Nigeria, CBN, Mr. Godwin Emefiele has said that the apex bank will continue to sell foreign exchange, Forex, to banks following the progress made under the Road to $200 billion non oil exports revenue programme (RT 200).
Meanwhile, the Bankers Committee has announced minimum annual lending of N500 billion to exporters on the gains of the Road to $200.
Emefiele disclosed this in Lagos at a press conference on the outcome of the 13th Annual Bankers Committee Retreat, held in Lagos with the theme “Increasing the Productive Base of the Nigerian Economy and Non-Oil Export Revenues.”
Emefiele said: “We highlighted the tremendous progress that has been made because we recall that in the course of the year before we started the RT 200, the CBN had actually threatened the banks that they must begin to source their own FX to meet the needs of their customers and not entirely rely on central bank sources.