The Nigeria Export Promotion Council, NEPC, has confirmed that the Central Bank of Nigeria, CBN, has approved CFA Franc to be captured on Nigeria Export Proceeds, NXP, forms for the repatriation of export proceeds.
Mrs. Nonye Ayeni, Executive Director of the NEPC, disclosed this while addressing newsmen on the Non-Oil Export Performance for the year 2024 in Abuja on Friday.
Ayeni said that the council had earlier engaged the CBN on the inclusion of the CFA Franc to boost trading.
She said that the currency was one of the currencies to be received as export proceeds by the bankers.
“I am delighted to inform you that the CBN has magnanimously approved CFA to be captured on NXP forms for the repatriation of export proceeds.
“We will be working with CBN and the banks to ensure full implementation.
“I must say that this is a remarkable breakthrough for the council and further reaffirms the impact of the council’s current flagship programme,” she said.
She also highlighted other efforts by the agency to facilitate exports, including certification of 400 small and medium-sized enterprise (SME) exporters.
