The Central Bank of Nigeria -CBN, is exchanging 720 billion Naira for 15 billion Renmibi within 3 years under a the 2.5 billion dollar bilateral currency swap with the People Bank of China.
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The development is expected to boost bilateral trade between Nigeria and China – a win-win situation.
By making purchases of goods easier, Nigeria’s huge markets and large trading communities will benefit from the currency swap.
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