Fidelity Bank Plc has expressed commitment to supporting the Central Bank of Nigeria’s (CBN) efforts to achieve $200bn in foreign exchange repatriation from non-oil exports over the next five years.
A statement by the lender quoted the Executive Director, Northern Businesses, Fidelity Bank Plc, Hassan Imam, as saying this in Kano at a workshop organized for exporters and investors on the implementation and opportunities in the new CBN RT200 FX Policy.
Imam said that the financial institution would not relent in its efforts to bridge the knowledge gap in the non-oil sector space by facilitating the necessary processes and documentation for the new policy, with the goal of increasing FX repatriation through exportation.
The Regional Bank Head, North West 1, Fidelity Bank Plc, Mannir Ringimre, expressed the bank’s readiness to support the government’s economic imperatives to boost revenue in the non-oil sector of the economy.
He said, “As you know Nigeria is currently an import-dependent economy, with so much pressure on our currency, and the source of revenue as a nation is petrol dollar. So, the initiative of the CBN is to leverage on our non-oil products especially in agriculture like the hibiscus flower, cashew nut sesame, and many other products for exports.”
Speaking on the need for strategic planning in the non-oil sector, the Head of Export and Agric Businesses, Fidelity Bank, Isaiah Ndukwe, said the bank was well-positioned to advance the CBN policy thrust to reduce our over-dependence on oil revenue in the country.
