To make good its plan to execute a currency swap with China, Nigeria’s Central Bank said it will start selling Yuan to local banks. The CBN is looking at doing an auction for the currency every two weeks. Based on the official circular, renminbi would only be used to finance […]
As a follow up to its Yuan currency swap deal with China worth about $2.5 billion, Nigeria is said to have picked lenders who who will manage the transactions. According to ThisDay Newspaper, Standard Chartered Bank, Stanbic IBTC, Zenith Bank and First Bank of Nigeria have been appointed to manage […]
Africa’s largest economy, Nigeria has entered a yuan currency swap agreement with China, the world’s second-largest economy. Under the agreement, Nigeria and China will exchange goods and services in the region of 15 billion yuan.