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CBN Issues Guidelines For China-Nigeria Currency Swap Deal (Pics) / 41 Items Still Banned Under Nigeria-china Currency Swap Deal / How Nigeria Will Benefit From Currency Swap Deal With China (2) (3) (4)
|The Masterstroke Called Chinese Currency Swap Deal by janetdaniels201: 5:26pm On May 04, 2018|
THE MASTERSTROKE CALLED CHINESE CURRENCY SWAP DEAL
President Buhari doesn't have certificate but he sure knows how to make things happen and do what some heroes with unproven Ph.D. can't even dream of...
1.As President Buhari and CBN Governor, Emefiele moved closer to actualizing their promise to strengthen the naira against the US dollars
2.By signing a landmark currency deal with the Industrial and Commercial Bank of China Ltd on Tuesday in Beijing, China.
3. The agreement will allow Nigerian who imports mainly from China conclude their transactions in the Chinese currency instead of the dollar
4. The new agreement would see Nigeria-China trades, which accounts for over 70 percent of imports into Nigeria, concluded in the Yuan.
5. Until now over 90% of int'l trades between Nigeria & the world is done in dollars, & in the process putting so much pressure on the naira
6. Nigeria imports almost all it needs from the West, Middle East and Asia.
7. The CBN is expected to diversify a huge chunk of Nigeria’s foreign reserve from the dollars to the Yuan to perfect the agreement.
8. “It means that the renminbi (Yuan) is free to flow among diff banks in Nigeria, & the renminbi has been included in the FXR of Nigeria,”
9. FXR means foreign exchange reserves
10. Lin Songtian, director general of the African affairs department of China’s foreign ministry, told reporters in Beijing ...
11. .. a few minutes after the agreement was signed between the Governors of the nations’ reserve banks..
12. in the presence of President Buhari & President Xi Jingping of China, who is hosting Buhari and top Nigerian officials to a state visit.
13. Lin said a framework on currency swaps has been agreed with Nigeria, making it easier to settle trade deals in Yuan.
14. China has signed currency swap deals with countries ranging from Kazakhstan to Argentina as it promotes wider use of its Yuan.
15. Nigeria would become the clearinghouse for Yuan denominated transactions for the whole of Africa following the agreement.
16. Beijing also signed agreements to develop infrastructure in Nigeria, part of a drive to deepen its ties with Africa.
17. It has offered Nigeria a loan worth $6 billion to fund infrastructure projects.
18. Also, ICBC signed a $2 billion loan deal with Dangote group, to fund two cement plants it plans to build, Lin told Reuters.
19. China’s official Xinhua news agency cited President Xi as telling Buhari that there was huge potential for economic cooperation, naming
20. Naming oil, refining and mining..
21. Nigeria is also considering issuing Panda bonds (mainly Yuan denominated) as against euro bonds because they are cheaper.
This is good, better days are ahead, I'm sooo happy and hopeful right now. Nigeria shall be great again!
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|Re: The Masterstroke Called Chinese Currency Swap Deal by donlemson(m): 5:31pm On May 04, 2018|
let CURRENCY SWAP DEAL being before i comment because everything about APC is = LIE
|Re: The Masterstroke Called Chinese Currency Swap Deal by Nobody: 5:59pm On May 04, 2018|
You know nothing. Before you expose it ignorance, what is the trade ratio between China and Nigeria?
|Re: The Masterstroke Called Chinese Currency Swap Deal by SalamRushdie: 6:04pm On May 04, 2018|
No master stroke there abeg .. Buhari has played into the hands of his enemies
|Re: The Masterstroke Called Chinese Currency Swap Deal by SadiqBabaSani: 6:06pm On May 04, 2018|
kaorama:don't mind dem
|Re: The Masterstroke Called Chinese Currency Swap Deal by wakaman: 6:07pm On May 04, 2018|
Tell us what you know! Trade ratio KO trade ration Ni, gala seller forming international tradesman, come on bring 2 fan Yogo and 2 gala with change from 1000 naira.
|Re: The Masterstroke Called Chinese Currency Swap Deal by asobo: 6:16pm On May 04, 2018|
BMC latest recruit spotted.
|Re: The Masterstroke Called Chinese Currency Swap Deal by PFRB: 6:19pm On May 04, 2018|
Interest rate in Argentina has been announced to be 40%
|Re: The Masterstroke Called Chinese Currency Swap Deal by Nobody: 6:28pm On May 04, 2018|
Buhari the unofficial economist.
|Re: The Masterstroke Called Chinese Currency Swap Deal by seunmsg(m): 6:29pm On May 04, 2018|
Sadly, the people that will benefit the most from this currency swap agreement are importers from the south east. The same region that sees nothing good in the president.
Overall, I am very optimistic about the agreement's potential to reduce demand for dollar and hence help strengthen the value of our naira. A stronger naira at this point in time will bring down the high prices of basic essential commodities.
On the other side however, it will make importation from China cheaper and easier. This will further kill whatever is left of our manufacturing sector. We really need to figure out how to encourage Nigerians to consume more of made in Nigeria products. Making imports cheaper from China will continue to hurt our economy if we are not exporting anything significant apart from crude oil in return.
|Re: The Masterstroke Called Chinese Currency Swap Deal by ItsMeAboki(m): 6:30pm On May 04, 2018|
Don't mind him; most of them are far too intellectually lazy and ignorant to comprehend issue in their correct perspectives; there are therefore prone to making baseless emotional arguments while convinced they are making valid points.
|Re: The Masterstroke Called Chinese Currency Swap Deal by Nobody: 6:32pm On May 04, 2018|
Other African countries will patronize the Naira as it can be used for Yuan exchange.
|Re: The Masterstroke Called Chinese Currency Swap Deal by ItsMeAboki(m): 6:39pm On May 04, 2018|
My thoughts exactly; these ppl because of their hatred will never see anything good with Buhari - their hatred is making them look foolish.
Government can protect local industries with higher strategic tariffs and banning of certain finished goods.
|Re: The Masterstroke Called Chinese Currency Swap Deal by Bukalisman(m): 7:06pm On May 04, 2018|
This will be very nice if it's not one of the usual APC's propaganda.
|Re: The Masterstroke Called Chinese Currency Swap Deal by Nobody: 7:49pm On May 04, 2018|
Anything to make this dollars go down haba.
If it will make dollars go down to at least #160 that will be great or better still make it $1-#1
|Re: The Masterstroke Called Chinese Currency Swap Deal by seunmsg(m): 8:40pm On May 04, 2018|
Very right. There are lots of benefits that will come with the swap agreement.
|Re: The Masterstroke Called Chinese Currency Swap Deal by Stephaustin(m): 9:35pm On May 04, 2018|
|Re: The Masterstroke Called Chinese Currency Swap Deal by Stephaustin(m): 9:48pm On May 04, 2018|
The president did what he did for the good of all Nigerians. There's no particular group of people that will benefit from this in a special way. The effect of this decision will get to every soul living in Nigeria.
To that effect, your first paragraph is a total fallacy. Do remember that the president has staunch supporters among these South Easterners. That you've not met one does not mean there is none. This renders your statement that the South Easterners don't see anything good about the president fallacious. Again, Importers abound in all zones of Nigeria. That you probably have not met one or many does not mean there is none. A market survey will convince you.
I advise we try to avoid hasty generalization in our statements.
However, I totally agree with everything you said in the rest of your write-up. You have a strong point there.
|Re: The Masterstroke Called Chinese Currency Swap Deal by NATIONALPASTOR: 10:44am On May 05, 2018|
Thesis of a lunatic.
GEJ is 1000 times better than the TERRORIST president.
He is a PhD holder highly respected accross the world. He has delivered lectures in leading institutions accross the globe, which the terror herdsman can never achieve even if he reincarnates 10 times.
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