 The central bank of Nigeria, CBN, has threatened to penalize shipping companies exporting undocumented cargoes from the country. CBN governor Gaudwin Amofiles spoke at the RT 200 Non Oil Export Summit 2023 on Tuesday in Abuja. The summit is themed RT 200 challenges in prospects. Amofiles said the development of the non oil export sector is crucial given that it holds vast potential for generating a significant amount of foreign exchange earnings. We have so far not done anything like that just because we feel that our shipping lines will be responsible to do what is right. But if we do not see the kind of corporations that we'll expect, I'll have to insist that we will do what we need to do. For any export to a warehouse established outside India, for instance, with the permission of the Reserve Bank of India, export proceeds can be repatriated within 15 months from the date of shipment. Many countries of the world have these requirements to ensure effective export repatriation back to their countries. Ladies and gentlemen, we will agree that the challenges facing our country today are many and evolving.