Business
CBN’s ‘RT200’ Policy Boosts Fund Repatriation By 40 Per Cent – Emefiele
Published
2 years agoon
By
Editor
The Governor of the Central Bank of Nigeria, Godwin Emefiele, said that the ‘Race to USD200bn In FX Repatriation’ programme of the bank had boosted the repatriation of funds into the country by 40 per cent.
He said this on Tuesday when he delivered the keynote address at the ‘Third RT200 Non-oil Export Summit’ of the CBN held in Lagos.
“The RT200 FX programme is aimed at improving the inflow of stable and sustainable foreign exchange into the market. The programme aims to raise USD200 billion in Foreign Exchange earnings over the next five years from non-oil proceeds.”
Emefiele said, “I’m happy to note that the RT200 programme has made good progress in export proceed repatriation since its establishment in February 2022. Available data shows that repatriation due to the programme increased by 40 per cent from US$3.0 billion in 2021 to US$ 5.6 billion at the end of 2022.
READ ALSO: CBN Vows To Penalize Shipping Lines Over Undocumented Exports
“The momentum for 2023 is equally showing strong numbers and impressive prospects. In the first quarter of 2023, a total of US$1.7 billion was repatriated to the economy while about $790 million was sold at the I&E window year-to-date. The balance of the proceeds remained in the Export Domiciliary Accounts of exporters. Please note that proceeds that are not sold at the I&E window cannot and will not be eligible for the rebate. So, we encourage holding their export proceeds in their domiciliary accounts to take advantage of the rebate by selling them at the I&E Window.”
He went on to express the CBN’s commitment “to strengthening and expanding foreign exchange supply into the market. Naturally, you all are important in this clarion call of expanding the supply of foreign exchange inflow into the economy.”
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Business
FG Offers Up To 16.54% Yield On September Savings Bonds
Published
1 day agoon
September 1, 2025By
Editor
The Federal Government, through the Debt Management Office, is offering investors annual yields of up to 16.541% on its September 2025 Federal Government of Nigeria Savings Bonds.
The DMO, in a circular on its website on Monday, announced that the subscription window opens immediately and will close on Friday, September 5, 2025, with settlement scheduled for September 10, 2025.
Coupon payments will be made quarterly on March 10, June 10, September 10, and December 10 and will be paid directly to investors.
The DMO offered investors two subscription categories of the Federal Government Savings Bond.
READ ALSO:DMO Unveils July FGN Savings Bond As CBN Offers N250bn In Treasury Bills
The first is a two-year bond, which will mature on September 10, 2027, and attracts an annual interest rate of 15.541 per cent.
The second is a three-year bond, set to mature on September 10, 2028, with a higher annual interest rate of 16.541 per cent.
The two-year bond interest rate rose to 15.541% in September 2025, up from 14.401% in August.
Similarly, the three-year bond recorded an increase to 16.541% in September, compared to 15.401% in the previous month.
The FGN Savings Bond programme, launched in 2017, aims to deepen the domestic bond market, promote financial inclusion, and give retail investors access to secure, low-risk government securities.
READ ALSO:Family Kicks As UK Varsity Sacks Nigerian Grandmother
Each bond unit is priced at ₦1,000, with a minimum subscription of ₦5,000 and additional subscriptions in multiples of ₦1,000. Individual investors can subscribe up to ₦50 million.
On the status of FGN Savings Bonds, DMO noted it “qualifies as securities in which trustees can invest under the Trustee Investment Act; Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.
“Listed on The Nigerian Exchange Limited (and); qualifies as a liquid asset for liquidity ratio calculation for banks.”
The office said the bond is “backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.”
Business
NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment
Published
3 weeks agoon
August 14, 2025By
Editor
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday, according to DAILY POST.
It was confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945.
This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area, Wuse Zone 4, Wuse Zone 6, and other of its filling stations in the nation’s capital.
READ ALSO:N5bn Damage: NNPCL Secures Appeal Court Victory Against Ararume
The latest downward review of fuel price in NNPCL outlets represents an N55 reduction in fuel pump price.
“It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told DAILY POST anonymously on Thursday.
This comes a Nigerian filling station, MRS Empire Energy, on Thursday adjusted their fuel pump price to N885 and N946 per litre, down from N910 and N955 per litre.
The latest fuel price reduction trend is unconnected to Dangote Refinery’s ex-depot petrol price adjustment by N30 to N820 per litre from N850 and the price of crude oil in the international market.

Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly known as petrol, by N30, from N850 to N820 per litre, effective from August 12, 2025.
This was disclosed in a statement by the company’s spokesman, Anthony Chijiena, on Tuesday.
The 650,000-barrel-per-day plant said the move is part of its unwavering commitment to national development, assuring the public of a consistent and uninterrupted supply of petroleum products.
READ ALSO:Dangote Refinery Gets New CEO
“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” said Chijiena.
The announcement comes as the refinery prepares to commence direct fuel distribution nationwide. The development is expected to lead petroleum product marketers to reduce their pump prices in the coming days.
In Abuja, the retail fuel price stood between N885 and N970 per litre as of Tuesday evening.
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