Business

Fidelity Bank partners Edo, GIZ to host RT200 workshop

Leading financial institution, Fidelity Bank Plc, has announced plans to host an exports roundtable and policy sensitisation workshop for businesses in Benin- City, Edo State capital in partnership with the Edo State Investment Promotion Office (ESIPO) and GIZ on Tuesday, 24 May 2022.

 

The event, which will be the fourth edition of the bank’s CBN RT200 FX sensitisation seminars following successful outings in Kano, Ondo and Plateau states in February, March and April 2022 respectively, is part of the bank’s initiatives to help importers pivot to exports.

 

According to the Divisional Head, Export and Agriculture, Fidelity Bank Plc, Isaiah Ndukwe, Fidelity Bank’s decision to partner ESIPO and GIZ is borne out of the need to help exporters to build their business management capacity and is further proof of the value the bank provides to export-oriented businesses in Nigeria.

 

“At Fidelity Bank we are known for empowering our customers with the necessary financial and non-financial services to upscale their businesses. We consider the CBN RT200 FX scheme an amazing opportunity for businesses to bolster their FX earning capacity and we are delighted to collaborate with ESIPO and GIZ to host businesses in and around Benin City to a workshop to help them take advantage of the scheme,” explained Ndukwe.

 

Launched on February 10, 2022, by the Central Bank of Nigeria (CBN) as part of measures to reduce the increasing demand for foreign currency by importers, the RT200 FX scheme is designed to help Nigeria achieve $200 billion in FX repatriation from non-oil exports over the next five years. The policy has been hailed by stakeholders in the export sector as an initiative capable of stimulating the growth of nonoil exports in Nigeria.

 

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