Gucciboss:


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

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.

Dolarman:


Why are you so BITTER!!!!!! People like you feel so disgruntled once you read or hear any thing positive about the present dispensation. Learn to appreciate something GOOD and criticize only if its BAD, hence that's the only way we can make progress in this country.

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.

SIRTee15:


But yuan against the naira will also rise
Maybe triple than what it is now....
The pressure will simply be transferred from dollar to yuan...
On the long run frustrated importers who can't get their hands on enough yuan will still purchase dollar...
I don't really see any remarkable gain....
Except immunity of our foreign exchange reserve to dollar shock....
Remember CBN will need to start building a yuan reserve to meet the demand...
And I really don't know how cbn will do that unless we begin to sell our oil in yuan....
And selling oil in any other currency apart from dollar is inviting trouble from America.....
Jonathan tried that and all he got was boycott of nigerian crude oil, boko haram insurgence, blocking of arms sales n chibok scam....
American simply frustrated his govt until it collapsed.....
The long term target for naira rise n stability should be diversification of our export....
Thus measure will only result in short term gain due to panic selling n buying....
Right now I heard abokis are desperately trying to dispose the dollars in their hands n are refusing to buy pound/dollar except at below market value....
America fustrated

Dolarman:


Why are you so BITTER!!!!!! People like you feel so disgruntled once you read or hear any thing positive about the present dispensation. Learn to appreciate something GOOD and criticize only if its BAD, hence that's the only way we can make progress in this country.

IJOBA2:
I TIRE FOR YORUBA MUSLIMS

Osgilliat:


Which one be Yoruba Muslim again? Yoruba will always be one irrespective of religion, politics or whatever.

SIRTee15:


But yuan against the naira will also rise
Maybe triple than what it is now....
The pressure will simply be transferred from dollar to yuan...
On the long run frustrated importers who can't get their hands on enough yuan will still purchase dollar...
I don't really see any remarkable gain....
Except immunity of our foreign exchange reserve to dollar shock....
Remember CBN will need to start building a yuan reserve to meet the demand...
And I really don't know how cbn will do that unless we begin to sell our oil in yuan....
And selling oil in any other currency apart from dollar is inviting trouble from America.....
Jonathan tried that and all he got was boycott of nigerian crude oil, boko haram insurgence, blocking of arms sales n chibok scam....
American simply frustrated his govt until it collapsed.....
The long term target for naira rise n stability should be diversification of our export....
Thus measure will only result in short term gain due to panic selling n buying....
Right now I heard abokis are desperately trying to dispose the dollars in their hands n are refusing to buy pound/dollar except at below market value....
America fustrated

Didi2d:
Our Igbo brothers will benefit more from this deal...

But trust them ( Igbo brothers) they will still sell to Nigerian on a high rate, claiming they've spent so much on importation

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.

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

ritababe:



I hope this is true, can't wait.

Chibuzoc:
Some importers like me will benefit from this

APCsupporter:


I pray that they do it. I will go back to my mini importation business and sell my goods at way lower prices

DabuIIIT:


so you had a mini importation business that you ABADONED,huh?

Did you abadon it because of govt's bad and retrogressive policies and bad economy?

I bet your arsse you did and are proud cos you are always quick to tell whoever cares to listen to your warped rants that the Igbos do not control any part of the economy.



Lzaa immhotep pointzerom

Gucciboss:


You must be a dullard that is why you can't read nor comprehend. Pls enrol yourself in any primary school near you.

DabuIIIT:


so you had a mini importation business that you ABADONED,huh?

Did you abadon it because of govt's bad and retrogressive policies and bad economy?

I bet your arsse you did and are proud cos you are always quick to tell whoever cares to listen to your warped rants that the Igbos do not control any part of the economy.
And again,your small time importation kinikon remains dead until we have a good and working system in place,kachiko?



Lzaa immhotep pointzerom

APCsupporter:


I pray that they do it. I will go back to my mini importation business and sell my goods at way lower prices

Zane2point4:


pls i never really understand this, pls can you take out a little time to explain how this will help importers, thanks.

PointZerom:
Lol, importation of human skulls is prohibited in Niger Area that's why we source it locally in Ogun, Ogbomosho and Oshogbo. Cc Dabulllt Immhotep Lzza

DabuIIIT:


so you had a mini importation business that you ABADONED,huh?

Did you abadon it because of govt's bad and retrogressive policies and bad economy?

I bet your arsse you did and are proud cos you are always quick to tell whoever cares to listen to your warped rants that the Igbos do not control any part of the economy.
And again,your small time importation kinikon remains dead until we have a good and working system in place,kachiko?



Lzaa immhotep pointzerom

APCsupporter:


I wonder what you guys smoke

I left mini importation because BETTER opportunities came up elsewhere. I'm not a lazy dependent guy that cries to the govt all the time But that doesn't mean I wouldn't occassionally go back to it for a quick cash when I see opportunities. Ask anybody who is into mini importation whether he lost or made profit when dollars was getting more and more scarce. The igbos don't control any part of the economy other than exports of hard drugs and weed if they do then mention it

APCsupporter:


One thing that I can give credit to igbos for manufacturing is babies from their factories. And so many of their products are on NL

DabuIIIT:


no need to sweat in the arsse to explain,be a man and accept the truth,ur dullarpo yaff rendered yua mini gworro importation bizness comatose. Dollar aint that scarce,its on a high side...you had hoped your President Buhari would fulfil his #1 to $1 campaign promise,gagani ko?

Lzaa pointzerom