Governor Simon Lalong of Plateau state has lauded the RT200 FX Programme by the Central Bank of Nigeria’s (CBN), stating that the nation stands to gain a lot in terms of expanding its foreign exchange earning capacity through previously underutilised sectors.
The governor made this declaration at the recently held CBN RT200FX Policy Sensitization seminar hosted by Fidelity Bank Plc in Jos, Plateau State capital for businesses in the north central zone of the country. Represented by the Commissioner of Special Duties and Intergovernmental Affairs, Hon. Jerry Werr, Gov. Lalong said the State has a long history of contributing to Nigeria’s Foreign Exchange earnings, dating back to pre-colonial times and highlighted the critical role mining played in development of Nigeria before the discovery of oil.
In his address, the Executive Director, North Business, Fidelity Bank Plc, Hassan Imam, who was represented by the Regional Bank Head, North Central, Sadi Zawiya, said over the years, CBN has continued to envision various intervention schemes to boost local production and productivity as well as to increase non-oil exports and improve the FX generating capacity of the economy. He further clarified to the audience the bank’s decision to host the seminar in Plateau State.
Launched on February 10, 2022 by the apex bank as part of measures to reduce the increasing demand for foreign currency by importers, the RT200 FX Programme aims to raise $200billion in foreign exchange earnings in the next three to five years through non-oil exports.