Business
Nothing has been heard of that China-Nigeria currency swap again – Shehu Sani
The former senator representing Kaduna Central Senatorial District, Senator Shehu Sani has taken to his verified Twitter page to react to the China-Nigeria currency swap deal.
Recall in April 2018, the Central Bank of Nigeria (CBN) and the People’s Bank of China (PBoC) executed a currency swap agreement on behalf of their respective countries. The agreement was to enhance trade between the two countries and enhance foreign reserve management.
According to the report, Nigeria is the third African nation to sign a currency swap deal with China. The other two African countries are South Africa and Egypt.
However, it’s been four years now after the Central Bank of Nigeria (CBN) signed a currency swap deal with the People’s Bank of China (PBoC), and Nigerians are yet to feel the impact of that arrangement, especially as the free fall of the naira, currently standing at N570/$1 at the parallel market persists.
While reacting to this today, the outspoken activist, Shehu Sani said nothing has been heard again about the Nigeria-China currency swap deal since the agreement was made between the two countries.
In his tweet, Shehu Sani wrote below:
“Nothing has been heard of that China-Nigeria currency swap again.”
-
Features1 week agoHow ADC leadership crisis put Atiku’s 2027 ambition at risk
-
Energy1 week agoNNPC plans 5–10% stock market listing, targets 2027 for IPO preparations
-
Business5 days agoDisCos urge Minister to end blame game, apologise to Nigerians over blackouts
-
Latest1 week ago2027: No Court rulings can keep me off the ballot, Atiku insists
-
Health6 days agoStudy links Pfizer COVID-19 vaccine to higher death rates than Moderna shot
-
Latest1 week agoHow internal party disputes could shape the 2027 elections
-
Business7 days agoPower supply to improve in 72 hours as FG moves to restore generation – Tegbe
-
Business4 days agoFuel price: Our eyes on you, FCCPC tells oil marketers