Tag: Currency Swap
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Ex-TUC president backs President Tinubu on review of currency swap
A former President, Trade Union Congress (TUC), Mr Peter Esele, on Wednesday supported President Bola Tinubu’s plan to review the policy on the Naira currency swap. Tinubu in his inaugural speech, after he was sworn in as the 16 president of Nigeria, said
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How currency swap deal with China will boost Nigerian economy – CBN
The Central Bank of Nigeria (CBN) has said the Nigeria-China currency swap deal will help boost the nation’s economy as against fears in some quarters that it will stifle local companies and make the country a dumping ground for Chinese goods. The 41 items banned since 2015 will not be valid for the swap exchange,…
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China, Nigeria ink currency swap deal
China’s central bank said Thursday that it has inked a currency swap agreement with its counterpart in Nigeria. The agreement will allow the two sides to swap a total of 15 billion Chinese yuan (2.35 billion dollars) for 720 billion Nigerian naira, or vice versa, in the next three years, the People’s Bank of China…
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Nigeria seals N720bn currency swap deal with China
The Central Bank of Nigeria (CBN) and Peoples Bank of China (PBoC) have begun the execution of a $2.5 billion (Renminbi 16 billion) bilateral currency swap agreement entered into over two years ago. CBN Governor Godwin Emefiele led some CBN officials to the signing ceremony in Beijing, China. His PBoC counterpart Yi Gang headed the…