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Nairaland Forum / Nairaland / General / Business / China, Nigeria Sign Currency Swap Deal (24746 Views)
Nigeria Snubs Dollar. Renews ₦3.2 Trillion Currency Swap With China / CBN Issues Guidelines For China-Nigeria Currency Swap Deal (Pics) / How Nigeria Will Benefit From Currency Swap Deal With China (2) (3) (4)
Re: China, Nigeria Sign Currency Swap Deal by emmabest2000(m): 12:12pm On May 03, 2018 |
Swapping time 4 Likes 4 Shares
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Re: China, Nigeria Sign Currency Swap Deal by BadBradley: 12:18pm On May 03, 2018 |
Another daft move that will only benefit China that is a currency manipulator and home to official piracy. |
Re: China, Nigeria Sign Currency Swap Deal by RisingWars: 12:19pm On May 03, 2018 |
Even those who have not an iota of comprehension of all that was written are jubilant. This deal will "localize" the already dying economy like that of Ghana and South Africa. |
Re: China, Nigeria Sign Currency Swap Deal by Bants(m): 12:20pm On May 03, 2018 |
This is so rubbish...US is going after china due to trade deficits Dollar will simply have more sense than yuan and we under a dullard are moving to yuan 1 Like |
Re: China, Nigeria Sign Currency Swap Deal by erico2k2(m): 12:22pm On May 03, 2018 |
Printerscanner:SO upon ALL THE PROBLEM WE HAVE IN Nigeria, THIS IS THE ONE IN YOUR ABOUNDANCE OF WISDOM THA IS IN MORE PRESSING??/ ![]() ![]() ![]() 1 Like |
Re: China, Nigeria Sign Currency Swap Deal by smalls001: 12:25pm On May 03, 2018 |
SalamRushdie:You're still living in the past. Wake up.... |
Re: China, Nigeria Sign Currency Swap Deal by MikeBetty(m): 12:26pm On May 03, 2018 |
Printerscanner:A Pill Could Have Saved Your Parents This Monunental And National Emberrassment You Have Caused Your Family Now. You Are Insulting Someone Who Achieved What No One In Your Entire Lineage Can Not Achieve. Shame On You. 5 Likes |
Re: China, Nigeria Sign Currency Swap Deal by SalamRushdie: 12:29pm On May 03, 2018 |
smalls001: He has repeated the the same fate today again where is ultra poor leadership has led to closure of thousands of private businesses and loss of over 13 million jobs ... You need to wake up man !!!! 2 Likes |
Re: China, Nigeria Sign Currency Swap Deal by shine12: 12:33pm On May 03, 2018 |
Excellent! China is looking to reduce using US dollars for transactions and also reduce its US dollars foreign reserve volume. China is also committed to internationalizing the Renminbi and since it has huge investments in Africa why perpetuate the deal in Dollars. Nigeria, on the other hand, can also gain if, they have bargained for a swap rate that is beneficial rather than settling for US dollars that’s already in high demand. The winner here is China though. We just need to ensure that we are not allowing China to dominate us economically. If China can achieve to commit 20 billion dollars’ worth of Yuan in Africa, they will be getting nearer to their aim of reducing their US dollars FX volume. We must not allow ourselves not to be used but to play hardball and get the best deal with China. |
Re: China, Nigeria Sign Currency Swap Deal by skales67(m): 12:43pm On May 03, 2018 |
Printerscanner: And he would have concluded them before he was rigged out of power. Continue insulting a man whose achievements surpasses the destiny of your whole generation, lineage and kinsmen put together. 1 Like |
Re: China, Nigeria Sign Currency Swap Deal by AntiRiot: 12:46pm On May 03, 2018 |
SalamRushdie:Not a lot but it's a start. It is still a significant amount. CBN spends just about that or slightly less than that in a year to maintain the foreign exchange at current values. |
Re: China, Nigeria Sign Currency Swap Deal by quincee88(f): 12:50pm On May 03, 2018 |
Printerscanner:Agood government embraces and continues laudable projects. The interest should be the nation and not self |
Re: China, Nigeria Sign Currency Swap Deal by Positivepoint(m): 12:51pm On May 03, 2018 |
yeyerolling: its now officially confirmed by china central bank. |
Re: China, Nigeria Sign Currency Swap Deal by rexlims(m): 12:51pm On May 03, 2018 |
Printerscanner:B/4 U SPEW INSULT ON JONATHAN, REMEMBER HE IS FAR ABOVE U IN ALL THINGS. |
Re: China, Nigeria Sign Currency Swap Deal by luvinhubby(m): 1:02pm On May 03, 2018 |
PassingShot: You just found your voice today. Congrats. |
Re: China, Nigeria Sign Currency Swap Deal by Royceey(m): 1:09pm On May 03, 2018 |
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Re: China, Nigeria Sign Currency Swap Deal by tribalnall: 1:21pm On May 03, 2018 |
Luminee: It is very necessary bcoz when foolish Ipob Igbos berate Buhari your like will be no where to find but if the same is done to your demigod you start whining up n down NL. |
Re: China, Nigeria Sign Currency Swap Deal by Nobody: 1:57pm On May 03, 2018 |
yeyerolling:There was no deal 2 yrs ago, This is the deal we were celebrating 2yrs ago. 1 Like 1 Share |
Re: China, Nigeria Sign Currency Swap Deal by Nobody: 2:34pm On May 03, 2018 |
kitaatita: Let somebody hear word biko. They held him hostage and business boomed in his time. The one that they can't hold hostage has businesses dying everywhere. How much was Dangote worth in 2014 and how much is his worth now in 2018. Almost 5 billion scrapped from his worth. In fact all the billionaire business people in Nigeria have recorded huge losses since this clueless Buhari came in. Small businesses are also greatly affected. Growing an economy is not by shouting corruption and making noise up and down. Looking for who to blame. He should let Trump school him. The man is making business deals and returning jobs to his people. Our own president is killing the small ones we have and his mouth is loudest on corruption when corrupt folks roam his cabinet unharmed. Hypocrite Buhari! 1 Like |
Re: China, Nigeria Sign Currency Swap Deal by ManirBK: 3:03pm On May 03, 2018 |
SalamRushdie:I dey laugh! |
Re: China, Nigeria Sign Currency Swap Deal by agabusta: 3:10pm On May 03, 2018 |
SalamRushdie: CBN swaps $2.5b with China Read more at: https://www.vanguardngr.com/2018/05/cbn-swaps-2-5b-china/ https://www.vanguardngr.com/2018/05/cbn-swaps-2-5b-china/ |
Re: China, Nigeria Sign Currency Swap Deal by manitoba(m): 3:34pm On May 03, 2018 |
"They want to tell us another story again" . Tuface |
Re: China, Nigeria Sign Currency Swap Deal by teemy(m): 5:25pm On May 03, 2018 |
yeyerolling:l believe this is the conclusion. Long overdue but am glad the wait is finally over |
Re: China, Nigeria Sign Currency Swap Deal by Horus(m): 6:27pm On May 03, 2018 |
The agreement will allow Nigerian traders and businesses, which imports mainly from China conclude their transactions in the Chinese currency, the Renminbi (Yuan), instead of the dollar. The new agreement would see Nigeria-China trades, which accounts for over 70 percent of imports into Nigeria, concluded in the Yuan.Until now over 90 percent of international trades between Nigeria and the world is done in dollars, and in the process putting so much pressure on the Naira. The CBN is expected to diversify a huge chunk of Nigeria’s foreign reserve from the dollars to the Yuan to perfect the agreement.“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 |
Re: China, Nigeria Sign Currency Swap Deal by thesolutions(m): 7:05pm On May 03, 2018 |
North Korea and South Korea has started peace talks. Israel and Palestine are sitting already for a peace treaty. China has been dealt with by US trump yet Nigeria can't stop this dangerous deal. Well, Nigeria is too indebted to China to think of opting out. Thanks to Buhari's Economic team. |
Re: China, Nigeria Sign Currency Swap Deal by joe02(m): 7:10pm On May 03, 2018 |
You think you are making sense with this nonsense you just pen down .....ewu 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.[/quote] |
Re: China, Nigeria Sign Currency Swap Deal by MichaelTokunboh(m): 9:05pm On May 03, 2018 |
$2.35bn = ¥15bn = #720bn!
Chai!
See currencies exchange values!
Naija Naira don pafuka finish o!
And some morons say this swap is to our advantage? 2 Likes 2 Shares |
Re: China, Nigeria Sign Currency Swap Deal by seanwilliam(m): 8:38pm On Jul 26, 2022 |
MichaelTokunboh:the naira was still better here. Lol |
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