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Nigeria-China Currency Swap

[Daily Trust] Nigeria and China recently signed a bilateral agreement to operate a three-year currency-swap deal aimed at facilitating enhanced trade between both countries. At a value of $2.5 billion it translates into N720 billion for Nigeria and RMB15 billion (Chinese Rheminbi, formerly Yuan) for China respectively. The event which took place in Beijing, China saw Governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele standing for Nigeria while Dr Yi Gang of the Peoples Bank of China (PBoC) represented his...

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Published By: AllAfrica Nigeria - Wednesday, 16 May

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