Fidelity Bank partners Edo State and GIZ to host CBN RT200 FX Exports Roundtable and Sensitisation Workshop
The 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 would be the fourth edition of the bank’s
CBN RT200 FX Sensitization seminars following successful outings in Kano, Ondo,
and the 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 for
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 non-oil exports in Nigeria.
“The goal of the roundtable is to identify and promote
viable non-oil export opportunities, provide financing options, and proffer
steps to removing the identified bottlenecks in the export process for non-oil
products from Edo State to the global market. It will provide a platform for
the exporters to meet with the export regulatory bodies and express their
challenges that hinder exports.
The event will also serve as an opportunity for the
regulatory agencies to address the challenges on the spot and provide solutions
to them with a view of enhancing Nigeria’s capacity in the African Continental
Free Trade Area deal”, commented Marcus Unuebho of the Business Development
Support and Export Unit, ESIPO.
Collaborating to provide market linkages and access to
finance would address major constraints to these groups and ensure more
employment creation as well as higher-income”.
Fidelity Bank is a full-fledged commercial bank operating in
Nigeria with over 6.5 million customers serviced across its 250 business
offices and digital banking channels. The bank was recently recognized as the
Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards.
The bank has also won awards for the “Fastest Growing Bank”
and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021
BusinessDay Banks and Other Financial Institutions (BAFI) Awards.