Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,175,987 members, 7,896,196 topics. Date: Sunday, 21 July 2024 at 08:31 AM

Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal (2687 Views)

How Was "Naira" Coined? Obafemi Awolowo Coined The Currency Name, Naira, In 1973 / How Nigeria Will Benefit From Currency Swap Deal With China / The Currency Exchange Rates For Today, September 11, 2017 (2) (3) (4)

(1) (Reply) (Go Down)

Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal by Topccy007: 11:19pm On May 20, 2018
*IT'S WORTH READING...*

*IN CASE YOU DON'T UNDERSTAND.*

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

*Let's me get it clearer to you before the enemies of Progress twist it for you.*

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

*This is why even the oppositions, haven't say anything about it.*

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

*The importance of this is that since almost 70% of the goods we import come from China and Asia and 12% America why must we use Dollars to transact with China? from now 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.*

*Instead of buying these goods in dollars in China, we will now buy them in Yuan which is 5times cheaper than dollars.*

*As usual, another giant stride which Print Media, Electronic Media and Nigerian looters will not report or allow you to understand this victory over supremacy of dollars in our daily lives and economic activities.*

*Congratulations Nigerians....*

*SHARE TO YOUR CONTACTS.*

1 Like

Re: Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal by Nobody: 11:23pm On May 20, 2018
Good news
Re: Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal by LarryBeryl(m): 11:42pm On May 20, 2018
Ejom:
Good news
It is actually a bad news in disguise because Naira will end up be unable to trade in this amount in the nearest future due to the fact that our exportation to China is majorly based on crude oil which might fall in the world market. However, we import variety of commodies from China. This will affect NAIRA to YAUN as it did affect NAIRA to dollar. I forsee CHINA sacrificing NOW for LATER.
Re: Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal by EngrMcDon(m): 11:42pm On May 20, 2018
Odikwa oyi ma oburu eziokwu
Re: Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal by BrokenTV: 11:50pm On May 20, 2018
I can only take this serious when it is implemented and am able to make use of it to import my goods.
Re: Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal by Nobody: 12:03am On May 21, 2018
you might be right to some extend,but in an open market like this,I think option of cost minimization needs to be adopted thereby reducing high cost of currency in the market structure.
Anyway,central bank might ve this as an opportunity to engage our naira to YAUN,thereby creating a model currency structure with dollar,hence with the depreciation in dollar to naira exchange rate in dollar might go down to #150 to naira.
American won't watch this to happen,the reason been that the currency market structure is now on a competitive arena.
This is the future.
Although Nigerians must be lucrative in advance skill matters,just incase we fail with our means of exportation(oil).
LarryBeryl:

It is actually a bad news in disguise because Naira will end up be unable to trade in this amount in the nearest future due to the fact that our exportation to China is majorly based on crude oil which might fall in the world market. However, we import variety of commodies from China. This will affect NAIRA to YAUN as it did affect NAIRA to dollar. I forsee CHINA sacrificing NOW for LATER.
Re: Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal by Jethrolite(m): 12:16am On May 21, 2018
Let us start enjoying it first. Too much talk no action in this country.
Re: Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal by LarryBeryl(m): 2:49pm On May 21, 2018
Ejom:
you might be right to some extend,but in an open market like this,I think option of cost minimization needs to be adopted thereby reducing high cost of currency in the market structure.
Anyway,central bank might ve this as an opportunity to engage our naira to YAUN,thereby creating a model currency structure with dollar,hence with the depreciation in dollar to naira exchange rate in dollar might go down to #150 to naira.
American won't watch this to happen,the reason been that the currency market structure is now on a competitive arena.
This is the future.
Although Nigerians must be lucrative in advance skill matters,just in case we fail with our means of exportation(oil).

Must we delve into making economic decisions that can only soften immediate problems instead of preferring long lasting solutions that will be beneficial to the country and her citizenry. Trading Yaun/Naira is indeed a good move but not very good because of the limited trading options at our disposal. Over dependency on crude oil has already caused us a lot. It's high time we moved beyond cutting snakes in the middle all in the name of killing this venomous creature. Let's do this rightly so that generations yet to come can benefit instead of dealing with the mess this deal can cause.
Re: Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal by Nobody: 8:58pm On May 21, 2018
Decision makers ve already appended their signature on the deal swap. Let's watch out how the future plays with our naira.
Arrest my case and ve this realization that nothing last forever.
I pray we one day ve something to export, instead of over dependence on crude oil
Re: Central Bank Of Nigeria Have Finally Signed The Currency Swap Deal by troublemakea(m): 7:41pm On Jul 07, 2018
Ejom:
you might be right to some extend,but in an open market like this,I think option of cost minimization needs to be adopted thereby reducing high cost of currency in the market structure.
Anyway,central bank might ve this as an opportunity to engage our naira to YAUN,thereby creating a model currency structure with dollar,hence with the depreciation in dollar to naira exchange rate in dollar might go down to #150 to naira.
American won't watch this to happen,the reason been that the currency market structure is now on a competitive arena
This is the future.
Although Nigerians must be lucrative in advance skill matters,just incase we fail with our means of exportation(oil).

bless you bro.....that why I never believed this story. I knew there was a reason why trump invited Buhari to the White House. and any attempt by Buhari to support US over China in this their era of "Trade War" would I think spell doom for buhari's administration.

(1) (Reply)

Breaking News: N100 To Become N1 By August 1, 2008 / Raw Honey Is Available For Sale / Which ISP Is Best To Use In Ile-ife Osun State For Cafe Business

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 22
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.