The Nigeria Export Promotion Council (NEPC) has announced that the Central Bank of Nigeria (CBN) has approved the inclusion of the CFA Franc on the Nigeria Export Proceeds (NXP) forms to facilitate the repatriation of export proceeds.
The approval, aimed at boosting trade and supporting Nigerian exporters, was confirmed by Mrs. Nonye Ayeni, the Executive Director of the NEPC, during a press briefing on the Non-Oil Export Performance for 2024, held in Abuja on Friday.
“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,” Ayeni said.
She noted that the council had engaged with the CBN to ensure the inclusion of the CFA Franc, a currency widely used in West and Central Africa, as part of its efforts to enhance trading across regional markets.
“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,” Ayeni added.
Ayeni revealed that 400 small and medium-sized enterprise (SME) exporters had been certified by the NEPC to help them meet international standards and access global markets.
