I want to believe that my readers followed the Naira swap issue when it was on last year.

All my adult life I have never seen an economic policy as wise as that.
Note that I don't claim to know all that is involved but what I know is that we where to then get a billion dollar worth of China currency then.
Most of our export are paid for in dollar that is why we have too much pressure on dollar. whereas 60% of it comes from China and as at then the Chinese currency was a third of what the dollar was.
So China was to give us it currency worth a billion dollar in exchange for Naira
Therefore for anything you are bringing from China we use the excess Chinese currency to sort it out.
That will reduce the pressure on dollar a lot since use addly produce things in d us but in China.
I was discussing with a friend asking what happened to the deal. He said US will not be happy with the deal that is why they didn't go ahead with the deal
Government in US have changed hands to a man who doesn't care much about pleasing others. Why can't we strike the deal now.
I need learned people here to educate me

The Naira swap deal with China was just an artificial solution to a perennial problem;Even the Chinese government itself would do Anything possible to increase its Reserves in US DOLLARS.
I am so happy the 'deal' failed to materialise.

THE CHINESE GOVERNMENT WOULD HAVE STILL USED OUR NAIRA TO EXCHANGE FOR DOLLARS AND STORE IN THIER RESERVES.

Our Economic problems can only be Tackled Holistically by bridging the gap or 'inbalance' between importation and exportation.

Even the present artificial remedy of pumping in more dollars into the economy,will only create more problems in the long term if not Tackled from the foundation.

THE NAIRA SWAP DEAL WAS THE VERY FIRST SIGN OF CLUELESSNESS.

I didn't get you sir.
I suppose the bait swap is a better solution that the pumping of dollar and I also agree in the balance of trade thing.
But how can is be d major beneficiary when the person am trading with is China?

Buhari media center and their innumerable lies

Film trick

Propaganda happened!!! It was a stupid deal from inception, lies told to gullible zombies to increase the popularity of the old terrorist. It never happened cos there wasn't any such deal in the first place!!!!

This topic is great... Wish you dropped it for discussion during the week

It was mere propaganda used to divert attention from Buhari's irrelevant and fultile travels.

let me finish thinking first. I'll comment later

politics happened!
Thère isnt any economic decision without a political intuition
There isnt any political decision without an economic intuition
Btwn d Nigerian, Chinese & U.S govt, d deal failed to fall thru

Was all propaganda

Fayose secretly convinced the chinese government of our incompetent buhari is ........

I thought it was a chinese Yuan swap and not a Japanese Yen swap. Nothing happened, it's just one of those noise we get to hear from this administration.

Embezzlements..

Its part of APC propaganda

router123:
I didn't get you sir.

But how can is be d major beneficiary when the person am trading with is China?

Kindly rephrase please

The CNN governor adressed this issues late last year.. And he said its a process to implement and that the process is on going... Ordinary loan takes months not to talk about this stuff

US dollars is the world currency. A chinese exporter will not even accept your payment if you try to pay them in their chinese currency. everybody wants the US dollars when it comes to intl trade

Una don come again to remind us....

Go to church

China doesn't use yen. It's yuan not yen.


Govt is likely protecting our local products by avoiding such policy

//

it was propaganda from inception

Too bad me And many of my nairaland brethren know nothing about Foreign exchange and currency bla bla bla

Well, if PMB had followed issues related to governance b4 he became President he would have asked what happened to d previous deal. Dis govt was just trying to b sensational

Raiders:
US dollars is the world currency. A chinese exporter will not even accept your payment if you try to pay them in their chinese currency. everybody wants the US dollars when it comes to intl trade

you are lying

Chinese yuan.
Japanese yen.
take note.

OP correct urself, it's yuan and not yen. Yen in being used buy japan and the former by china.

Nigeria later settled for the european union loan or bond as some will call it


the attention was good for the chinese while it lasted

countries with failed currency like zimbabwe and the rest all trade in dollar and not the chinese yarn or whatever its called

router123:
I want to believe that my readers followed the Naira swap issue when it was on last year.

All my adult life I have never seen an economic policy as wise as that.
Note that I don't claim to know all that is involved but what I know is that we where to then get a billion dollar worth of China currency then.
Most of our export are paid for in dollar that is why we have too much pressure on dollar. whereas 60% of it comes from China and as at then the Chinese currency was a third of what the dollar was.
So China was to give us it currency worth a billion dollar in exchange for Naira
Therefore for anything you are bringing from China we use the excess Chinese currency to sort it out.
That will reduce the pressure on dollar a lot since use addly produce things in d us but in China.
I was discussing with a friend asking what happened to the deal. He said US will not be happy with the deal that is why they didn't go ahead with the deal
Government in US have changed hands to a man who doesn't care much about pleasing others. Why can't we strike the deal now.
I need learned people here to educate me

Buhari returned before Osinbajo could summon the yuan file.