Standard Charted Bank AND STanbic IBTC Bank have been chosen as settlement Banks.

Stanbic Bank has an affiliate bank in China which is " ICBC (Industrial and Commercial Bank Of China) "


For more watch the video below from 5:50 mins.


https://www.youtube.com/watch?v=lQYTm7r8ZQ8

FriendNG:
Standard Charted Bank AND STanbic IBTC Bank have been chosen as settlement Banks.

Stanbic Bank has an affiliate bank in China which is " ICBC (Investment and Commercial Bank Of China) "


For more watch the video below from 5:50 mins.


https://www.youtube.com/watch?v=lQYTm7r8ZQ8



Mynd44 Lalasticlala

ICBC ~ Industrial and Commercial Bank of China.

Buhari is also an economics. The china Nigeria swap deal is a welcome development.

Well I have sighted mynd44 here this this early morning (4:28 a.m) either looking for someone to ban or looking for duplicated thread to close.

Or just maybe mynd is doing sahur now who knows.

Good news. can't wait to buy goods at cheaper rate

God bless Nigeria.

i hope it works

space booked



I think is a right direction to relieve the excess demand for dollar

I am waiting to see that chinese exporter that will give his invoice in yuan! Too early to celebrate

Welcome development

atleast buhari travel china is fruitful dis tym around pdp how market ,,, and hope the exchange rate will not be much sha

buhari till 2023

[b]FIRST EVER BRILLIANT MOVE FOR THE DULLARD SINCE IN GOVT

Correct

Let's see it work first before celebration because this Buhari Administration is full of lies and can do anything to get cheap political points. I don't trust lie Muhammed. 2. If it is true, let's see how they will manage it in a way that it won't turn other way round just like they turn Nigerian economy the other way round in the name of repairing it. Most of them are bunch of illiterate who want to be in position by force. May all enemies of this country never see joy at the end of their life. Amen

Nigerians and their awkward way of doing things. Why not try DOLLAR

monaPhilz:
Welcome development

A very good one.

ayoadekunle79:
atleast buhari travel china is fruitful dis tym around
pdp how market ,,, and hope the exchange rate will not be much sha


buhari till 2023

the other countries wey him dn go nkoh?....buhari went to China during his first year...now its almost 4 before a deal was signed...how long will it take to start working that is if it ever will

niceeeeee

thank goodness I have Stanbic account.

Some importers like me will benefit from this

uloewa:
I am waiting to see that chinese exporter that will give his invoice in yuan! Too early to celebrate

very early

I hope dey swap wit sense


just sayin

Explanation to me please, how this would help?


I'm not an ecomomist

[s]

pawesome:
the other countries wey him dn go nkoh?....buhari went to China during his first year...now its almost 4 before a deal was signed...how long will it take to start working that is if it ever will

[/s]

people with better knowledge About this subject ,can you people explain the pros and cos of this deal.

ayoadekunle79:
atleast buhari travel china is fruitful dis tym around
pdp how market ,,, and hope the exchange rate will not be much sha


buhari till 2023

I TIRE FOR YORUBA MUSLIMS

mamaafrik:
people with better knowledge About this subject ,can you people explain the pros and cos of this deal.

IN CASE YOU DON'T UNDERSTAND

I know Most of You don't know the meaning of Nigeria naira/yuan swap with China.. And why American government is desperately smoothing their relationship with Nigeria.

This is a clearer picture of the deal and it's effects on our economy and way of life.

Soon, you may be buying that techno phone you bought at N80,000 for N12, 000 .

The Central Bank of Nigeria have finally signed the currency swap deal we have been expecting for the past 2 years with the Chinese government.

The importance of this is that since almost 70% of the goods we import come from China and Asia and only about a meagre 12% come from America, why must we use Dollars to transact with China?

Thus, with the new deal, instead of using dollars at N350 to 1dollar to import those goods, we can now buy Yuan at 47 naira to 1 Yuan and import those stuffs directly. Therefore, Instead of buying these goods in dollars in China, we will now buy them in Yuan at 5 times cheaper than their dollar rates.

Meanwhile, it should be noted that China is now the highest importer of our crude. This means that our trade with them can be on Naira/Yuan basis.

This is a giant stride that our media needs to disseminate. It's a great achievement by this administration in its effort at repositioning our economy.

This may be a reason why our past selfish leaders may not want Buhari to continue in office to protect their families who are beneficiaries of high forex rate.

Of course, with d new deal, d demand for dollars will nose dive, with an attendant crash in its price.
From tomorrow, try to monitor exchange rate. Some of those guys who hoarded foreign currencies to make gains will off load them in order not to have heart attack over their huge loss arising from the currency swap deal with china.
Dollars and pounds will flood everywhere with no buyers, as the buyers will draw naira from their accounts in banks with presence in China.

Many NIGERIA banks will be seeking to have their representative office in China like first bank who saw to the future and already have office in China.
Inflation will go down drastically because of the price of commodities that will drop.

dryakson:

IN CASE YOU DON'T UNDERSTAND

I know Most of You don't know the meaning of Nigeria naira/yuan swap with China.. And why American government is desperately smoothing their relationship with Nigeria.

This is a clearer picture of the deal and it's effects on our economy and way of life.

Soon, you may be buying that techno phone you bought at N80,000 for N12, 000 .

The Central Bank of Nigeria have finally signed the currency swap deal we have been expecting for the past 2 years with the Chinese government.

The importance of this is that since almost 70% of the goods we import come from China and Asia and only about a meagre 12% come from America, why must we use Dollars to transact with China?

Thus, with the new deal, instead of using dollars at N350 to 1dollar to import those goods, we can now buy Yuan at 47 naira to 1 Yuan and import those stuffs directly. Therefore, Instead of buying these goods in dollars in China, we will now buy them in Yuan at 5 times cheaper than their dollar rates.

Meanwhile, it should be noted that China is now the highest importer of our crude. This means that our trade with them can be on Naira/Yuan basis.

This is a giant stride that our media needs to disseminate. It's a great achievement by this administration in its effort at repositioning our economy.

This may be a reason why our past selfish leaders may not want Buhari to continue in office to protect their families who are beneficiaries of high forex rate.

Of course, with d new deal, d demand for dollars will nose dive, with an attendant crash in its price.
From tomorrow, try to monitor exchange rate. Some of those guys who hoarded foreign currencies to make gains will off load them in order not to have heart attack over their huge loss arising from the currency swap deal with china.
Dollars and pounds will flood everywhere with no buyers, as the buyers will draw naira from their accounts in banks with presence in China.

Many NIGERIA banks will be seeking to have their representative office in China like first bank who saw to the future and already have office in China.
Inflation will go down drastically because of the price of commodities that will drop.

I hope this is true, can't wait.

FriendNG:
Standard Charted Bank AND STanbic IBTC Bank have been chosen as settlement Banks.

Stanbic Bank has an affiliate bank in China which is " ICBC (Industrial and Commercial Bank Of China) "


For more watch the video below from 5:50 mins.


https://www.youtube.com/watch?v=lQYTm7r8ZQ8

For once, something good has come out of Stanbic Bank IBTC. Now I have something to use my account for.

dryakson:

IN CASE YOU DON'T UNDERSTAND

I know Most of You don't know the meaning of Nigeria naira/yuan swap with China.. And why American government is desperately smoothing their relationship with Nigeria.

This is a clearer picture of the deal and it's effects on our economy and way of life.

Soon, you may be buying that techno phone you bought at N80,000 for N12, 000 .

The Central Bank of Nigeria have finally signed the currency swap deal we have been expecting for the past 2 years with the Chinese government.

The importance of this is that since almost 70% of the goods we import come from China and Asia and only about a meagre 12% come from America, why must we use Dollars to transact with China?

Thus, with the new deal, instead of using dollars at N350 to 1dollar to import those goods, we can now buy Yuan at 47 naira to 1 Yuan and import those stuffs directly. Therefore, Instead of buying these goods in dollars in China, we will now buy them in Yuan at 5 times cheaper than their dollar rates.

Meanwhile, it should be noted that China is now the highest importer of our crude. This means that our trade with them can be on Naira/Yuan basis.

This is a giant stride that our media needs to disseminate. It's a great achievement by this administration in its effort at repositioning our economy.

This may be a reason why our past selfish leaders may not want Buhari to continue in office to protect their families who are beneficiaries of high forex rate.

Of course, with d new deal, d demand for dollars will nose dive, with an attendant crash in its price.
From tomorrow, try to monitor exchange rate. Some of those guys who hoarded foreign currencies to make gains will off load them in order not to have heart attack over their huge loss arising from the currency swap deal with china.
Dollars and pounds will flood everywhere with no buyers, as the buyers will draw naira from their accounts in banks with presence in China.

Many NIGERIA banks will be seeking to have their representative office in China like first bank who saw to the future and already have office in China.
Inflation will go down drastically because of the price of commodities that will drop.

Mr copy and paste, why can't you just at least go through what you copied? Buy techno of 80k with 12k? Are you for real? China the highest importer of Nigerian crude, any data to back it up? As of January, India remains the highest importer of Nigerian crude oil.

Nigeria Import from China is 17% as of 2017. Don't tell me that it jumped to 70% in one year
Stop lies and misinformation.

ritababe:



I hope this is true, can't wait.

Please disregard the copy and paste man!
Just make your research by yourself.