Diamond Bank Plc recently enlightened importers on ways of taking advantage of the recently signed currency swap deal between Nigeria and China. The bank which held a business seminar for importers and other small-scale business owners in the commercial city of Onitsha, on ways of improving their businesses said the forum was geared towards helping […]
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Determined to make low-interest, long-term funds available to the real sectors of the nation’s economy, the Central Bank of Nigeria (CBN) yesterday, announced its readiness to lend to large companies in the country by buying Commercial Papers (CPs) issued by such firms. CBN Governor, Mr. Godwin Emefiele, disclosed this at the end of the Monetary […]
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The Central Bank of Nigeria (CBN) flagged off its intervention in the sale of foreign exchange in Chinese Yuan (CNY), Friday, signaling the consummation of the Bilateral Currency Swap Agreement (BCSA) signed with the People’s Bank of China (PBoC) on April 27, 2018. CBN, in a statement disclosed that the sales would be through a […]
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The Central Bank of Nigeria (CBN) has commenced moves to woo local businesses importing goods from China to use the yuan instead of the US dollar in its effort to support its naira currency and boost reserves. To this end, officials of the apex bank on Wednesday held a town hall meeting with businesses in […]
Read More It is now a swinging time for both Nigerian and Chinese firms as the much-awaited currency swap between their respective countries has finally become a done deal. And with the planned auctions of the Chinese Yuan by the Central Bank of Nigeria (CBN) and the Naira by the People’s Bank of China (PBoC) any time […]
Read More The Central Bank of Nigeria (CBN) on Thursday, released guidelines for the bilateral currency swap agreement between Nigeria and China. The CBN gave the guidelines in a document signed by its Director, Financial Markets Department, Dr. Alvan Ikoku, and posted on its website. The regulator, in a document titled, “Regulations for Transactions with Authorised Dealers […]
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The $2.5 billion bilateral currency swap deal between Nigeria and China is likely to reduce further the strong demand for the United States dollar and support the naira, analysts at Ecobank Capital have said. The Central Bank of Nigeria early this month signed the deal with the People’s Bank of China, making Nigeria, the third […]
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