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Re: Nigeria, China Bank Agree On Yuan by engrchykae(m): 8:53am On Apr 13, 2016 |
Wow i am soooooooo happy. This is the first bold step taken by a nigerian after the five majors. But pmb should be more careful because the west wouldn't be happy with him aligning with their biggest economic rival in the world. The west is the common enemy of Africans and our current economic woes is indirectly connected to them.am not absolving our leadership from the blame but the west is also guilty. China should be allowed more room as they see us as partners in Biz while the west see us as beggers seeking aids and vaccines. Now i trust pmb 2 Likes |
Re: Nigeria, China Bank Agree On Yuan by Commentus2: 8:53am On Apr 13, 2016 |
kingviny:a da fun e! a da agba, a pe laiye!!! You are very wise and got good brain!!! Drect transtaction in local currencies of the nations we are dealing with should be the key, let say bye-bye to the middle-man ( dollar )!!! Our destiny as nation should not be tied to that of America or any nation for that matter! america can go and go, if e pain dem! 3 Likes 1 Share |
Re: Nigeria, China Bank Agree On Yuan by JayJustus(m): 8:55am On Apr 13, 2016 |
dannybrown19: zimbabwe never changed their official currency to yuan...it was only just used as one of the legal tenders...the major currency in zimbabwe is still the US dollar and rand 1 Like |
Re: Nigeria, China Bank Agree On Yuan by snipesdam(m): 9:01am On Apr 13, 2016 |
Hope china will not want o be buying our Oil with Yuan oooooooooo abeg oooo Buhari receive sense IJN. 1 Like |
Re: Nigeria, China Bank Agree On Yuan by Damikevin(m): 9:04am On Apr 13, 2016 |
This will reduce Dollar deMaNd, buT what will America do, China is America rival economically. The friend of you enemy is your enemy. 1CNY = N30.8009. 1 Like |
Re: Nigeria, China Bank Agree On Yuan by Nobody: 9:05am On Apr 13, 2016 |
MetaHuman: does it mean products like tecno phones and others will now be cheap? Pls xplain more |
Re: Nigeria, China Bank Agree On Yuan by gretblue: 9:08am On Apr 13, 2016 |
sonnie10:You will always criticize every government policy without providing alternative. |
Re: Nigeria, China Bank Agree On Yuan by engrchykae(m): 9:09am On Apr 13, 2016 |
Heavance:rubbishing ur compatriots is not the way to go. We go to the west to make money and send money home to relatives in nigeria not romance with caucasoids they are not our friends and we are not their friends just like they call us monkeys even when Tuface is more handsome than Gareth Bale and yet they can do anything from planting puppets in africa to toppling government through cia and mi6 in order to retain their exploitative biz in Africa like shell mobil chevron etc 1 Like 2 Shares |
Re: Nigeria, China Bank Agree On Yuan by Pavore9: 9:14am On Apr 13, 2016 |
dumo1: I still live in Nairobi and many Nigerians here have issues getting money from Nigeria as most of the cards don't even work! We resort to who needs money in Nigeria and gets shillings in return. Someone had to pay N41,000 into a Nigerian bank account for another Nigerian here to give him 13,000 shillings whereas one should have withdrawn nothing less than 20,500ksh if the cards were working as it should! |
Re: Nigeria, China Bank Agree On Yuan by Infinitikoncept(m): 9:14am On Apr 13, 2016 |
If this is true then kudos to pmb & the next step is preventing the banks from setting black market rates for Yuan cox the most corrupt & sharp practice institution in Nigeria according to my rating are our commercial banks all cox CBN has always looked the other side. I'm sure it will bring the USD madness to her knees since more than 50% import is from china. Rather than changing from naira to USD @ black market then back to yuan @ official rate which erodes the value of naira. It will just be a swift conversion as long as Nigerian banks are allowed to make direct wire transfer from our naira account to any Chinese account. 2 Likes 1 Share |
Re: Nigeria, China Bank Agree On Yuan by olusegun1990(m): 9:15am On Apr 13, 2016 |
Pls what is the black market rate of 1yuan to naira |
Re: Nigeria, China Bank Agree On Yuan by 2sexyus: 9:17am On Apr 13, 2016 |
GreatSE:at least it will mean lesser exchange rate on the yuan when compared to the dollar. China is also pushing to globalise the yuan and displace the dollar. Remember Mugagbe had switched to Yuan some months ago? Now Nigeria and before you know it, the whole of Africa will switch over. Besides, China contribute more to Africa's development than the west. So why not? 1 Like |
Re: Nigeria, China Bank Agree On Yuan by Nobody: 9:20am On Apr 13, 2016 |
Fmartin: no why cant we add india (rupee) to it becus we export there also? |
Re: Nigeria, China Bank Agree On Yuan by Tarzaa(m): 9:23am On Apr 13, 2016 |
dlox147:It is good doing business with China. 1 Like |
Re: Nigeria, China Bank Agree On Yuan by 2sexyus: 9:24am On Apr 13, 2016 |
Dollyak:spot on. Don't fork with China. They have been longing for this and their aim to capture Africa at first... and maybe other continents might follow. Like you said, I just hope that there is a long term solution in the pipe line |
Re: Nigeria, China Bank Agree On Yuan by Nobody: 9:25am On Apr 13, 2016 |
thagift:Yes.. Products from China will be cheaper.. E.g redmi 2 costs 699 yuan in China but 120 dollars in the same China. 120 dollars at black market rate in nigeria (320) is about 45k 699 yuan at normal and black market rate (30) is about 25k .. So its good news.. 4 Likes 1 Share |
Re: Nigeria, China Bank Agree On Yuan by Jyde89: 9:27am On Apr 13, 2016 |
imsuboi: Typical of a pained, corrupt ipobian waste of sperm. But i'm sure it is evident to even a blind man whose father i'm refearing to, but anyway i've returned the favour so the joke is on you or rather in you. |
Re: Nigeria, China Bank Agree On Yuan by divineappo(m): 9:28am On Apr 13, 2016 |
dlox147:am glad to hear dis. Its a great development. But buhari, watch ur back now, increase ur security now, bcoz d western powers wont take dis lightly. America wil fight nigeria covertly & secretly thru terrorism. Buhari shuldnt even visit america carelessly but send representatives. |
Re: Nigeria, China Bank Agree On Yuan by Nobody: 9:31am On Apr 13, 2016 |
Trendy247:I think it's better to remain silent than to prove your illiteracy. 2 Likes 1 Share |
Re: Nigeria, China Bank Agree On Yuan by redcap: 9:36am On Apr 13, 2016 |
GreatSE: Ur head dey dia,I have been jumping up/down since I heard thos news,GEJ tried it but didn't have the political will to execute it.thx to buhari if he can make it happen in the end cos'i just don't trust this govt. |
Re: Nigeria, China Bank Agree On Yuan by Cwhyte(m): 9:36am On Apr 13, 2016 |
This is a very good development. No more dollar slavery, our naira should be independent of the US dollar. Now lets do the calculations before you criticize Mr. President. If u want to buy a china phone of 100 USD, u must pay at least 30,000 Naira @N300 per Dollar but this 100 USD is about 647.01 Chinese Yuan (google rate) and 647.01 Chinese Yuan is just about 19,893.37 Naira now, include bank charges and all, the maximum u will pay for a 100 USD phone will not be more than 22,000 Naira indirectly, u exchange 100 USD for 22,000 which is about N220 to 1 USD and i think that's fair enough. 3 Likes 1 Share |
Re: Nigeria, China Bank Agree On Yuan by livinbygrace: 9:36am On Apr 13, 2016 |
To say the truth,this will favor most Igbos that do importation from China . 1 Like |
Re: Nigeria, China Bank Agree On Yuan by djcombo(m): 9:37am On Apr 13, 2016 |
I am still not too clear on how this would help, but knowing fully well that our economy is import dependent and we export oil majorly, tieing up such Trade agreement with China isn't too bad. Most raw materials for major industries can be gotten from China, like wise China would likewise purchase crude oil exports from Nigeria. Knowing fully well that the devalued USD is a function of some strong market forces/cabal. Trading in Yuan (if readily available should help put in check increasing demand for USD which makes the street USD-NGN rate highly volatile and unpredictable)... In the long run, USD demand to import goods from China would fizzle out as Yuan would now be used to directly purchase such goods, reducing the pressure on USD within the country 1 Like |
Re: Nigeria, China Bank Agree On Yuan by mashnino(m): 9:38am On Apr 13, 2016 |
In as much as i want this. This is also dangerous for the buhari's regime America might want to cause trouble with this And the fact that pmb has so many haters It will be easy to penetrate Nigerians be careful.. This is a welcomed development Don't let any useless conspiracy make you think otherwise This was what happened to libya and where are they now? So please Nigerians i plead with you.. We have had enough terror for one century... |
Re: Nigeria, China Bank Agree On Yuan by Trendy247: 9:48am On Apr 13, 2016 |
DabELLs:Useme!! |
Re: Nigeria, China Bank Agree On Yuan by gcof(m): 9:53am On Apr 13, 2016 |
Good move..importers will no longer give us the excuse of dollar rise as reason for increase in goods 1 Like |
Re: Nigeria, China Bank Agree On Yuan by redcap: 9:56am On Apr 13, 2016 |
Cwhyte: This is pipe dream,you'll have to source ur RMB outside the bank and deposit to ur rmb dom. Account.have you bothered to check the black market rate,because the last time I checked,every currency traded in the black market will always appreciate whenever$ goes up. |
Re: Nigeria, China Bank Agree On Yuan by Dirkcoyt: 10:13am On Apr 13, 2016 |
amtaken: **** This move is a great move for a short-medium term atleast for now to stabilise the economy. Right now, we import virtually everything from china so why convert to american dollar first? So this will save importers some change first pending the time we build our manufacturing and agriculture sector(this will free us from the shackles of china on the longterm)! We can't buy nigeria to grow naira at once but gradual which this move is part of gradual! **** |
Re: Nigeria, China Bank Agree On Yuan by BrainnewsNg(f): 10:17am On Apr 13, 2016 |
Aufbauh: Thank you Please tell them I love this comment, best comment today on NL 1 Like |
Re: Nigeria, China Bank Agree On Yuan by Nobody: 10:32am On Apr 13, 2016 |
engrchykae:So now you believe in Buhari? So you will stop calling people who were able to think ahead of you hypocrites? So you will stop calling Buhari a hypocrite and the President of the North? So you will start reasoning objectively and stop ccrying foul play and screaming national confab? So do you now realize the Igbos shot themselves politically and as so will have to pay the prize? Do you now understand that the person you and your people refer to as a dullard has performed more than any elected President of Nigeria in less than one year? |
Re: Nigeria, China Bank Agree On Yuan by raymondinc(m): 10:48am On Apr 13, 2016 |
I don't know how to express my love for this man ( Muhammadu Buhari) in spite of economic slide down and hardship in the land but one thing I know is that we shall all get there one day. With the right pilot ( Mr. President ) Nigeria will not fall but stand all trier and put enemies of this great nation to shame. |
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