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NAN reports that in 2014, the CBN’s deputy governor, Kingsley Moghalu, said the bank was looking to increase the percentage of Yuan foreign reserves in its possession from two per cent to seven per cent.

According to him, 85 per cent of its foreign reserves were in dollars and it needed to have more in Chinese Yuan, as the country was taking a more important place in global trade.

“It was clear to us that the future of international economics and trade will shift in large part to business with and by China. Ultimately the renminbi (Yuan) is likely to become a global convertible currency,” Moghalu said.

SOURCE: https://www.pmnewsnigeria.com/2018/05/03/china-nigeria-sign-currency-swap-deal/

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Goatluck Jonaddaft started several laudable policies, projects e.g. BVN, STA, Currency Swap, e.t.c. but he did not have the political will to fully implement any one. Now, Buhari is reviewing implementing all abandoned policies. I wonder how Jonaddaft got the confidence to "toast" imPatience, maybe na the woman toast am sef.

Luminee:
China is getting more from this deal, OP add your source pls

PassingShot:
PMB is doing everything possible to grow private business environment.

Luminee:


Is this necessary, really

SalamRushdie:


Can you tell us how Buhari who has been the greatest singular threat to private businesses since 1984 will use this deal to grow private business sir?

yeyerolling:
hahahahah scam. what happened to the former deal celebrated 2 years ago

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Goatluck Jonaddaft started several laudable policies, projects e.g. BVN, STA, Currency Swap, e.t.c. but he did not have the political will to fully implement any one. Now, Buhari is reviewing implementing all abandoned policies. I wonder how Jonaddaft got the confidence to "toast" imPatience, maybe na the woman toast am sef.

efilefun:
Pretty sure you have nightmares about buhari everynight

PassingShot:
PMB is doing everything possible to grow private business environment.

With this deal and considering that more goods now come from China being the 2nd biggest economy after USA, businesses will be able to deal more easily without needing to look for dollars.

Win-win situation for both countries.

stubbornman:


you just dey yan like who dem piss for him face..... monkey

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Yes, it is. If you are a leader, you should lead well. Not start several policies and projects without concluding any but eager to loot the treasury.