During Buhari’s visit to Beijing, the Industrial and Commercial Bank of China Ltd (ICBC) , the world’s biggest lender, and Nigeria’s central bank signed a deal on yuan transactions.

“It means that the renminbi (yuan) is free to flow among different banks in Nigeria, and the renminbi has been included in the foreign exchange reserves of Nigeria,” Lin Songtian, director general of the African affairs department of China’s foreign ministry, told reporters.

The agreement was reached following a meeting between Buhari and Chinese President Xi Jinping.

this is to inform all nigerian customer , they can pay some Chinese store s in chinese currency in rmb in future and they can do direct bank tt of rmb from their nigerian bank to there hong kong hsbc bank through their domicilary banks .

note - some website price is in dollar and you can exchange dollar to rmb yourself always 1 $ - 6.5 rmb . please i repeat you can pay them either in dollar or in rmb through bank tt direct transfer from nigerian bank to there hsbc bank.
Do you think this will really help importers and can this reduce cost?

.

Sunnymatey:
.

what's your opinion?

it means that if an importer that imports lets say for example 5 containers of goods with $100000 will start importing 15containers with the same $100000

mular:
it means that if an importer that imports lets say for example 5 containers of goods with $100000 will start importing 15containers with the same $100000

Something of this nature . Can wait to see banks start allowing yen next week