The Central Bank of Nigeria (CBN), said it has allocated 1,342 manufacturing and trading firms foreign exchange through its recent intervention.
The apex bank said it sold a total of $660m to the firms through FX forwards to their respective banks for onward sales to the firms.
The Federal Government said on Sunday it would reinstate the Export Expansion Grant (EEG) scheme it suspended in 2014 in the 2017 budget.
The purpose for the reinstatement is to increase the volume and value of Nigeria’s exports, diversify export products and improve global competitiveness of Nigerian made goods.
