The Central Bank of Nigeria (CBN) has announced plansto end the RT200 FX Programme and the Naira4Dollar scheme by the end of June 2023.
Ripples Nigeria reports that the RT200 FX Programme and the Naira4Dollar scheme were created to encourage the repatriation of non-oil foreign exchange proceeds into the official market.
The programmes were created by the suspended CBN Governor, Godwin Emefiele, but following the decision of the CBN on Thursday to free the forex market and allow buyers and sellers to negotiate rates without restriction from the apex bank, the RT200 FX Programme and the Naira4Dollar scheme became redundant.
