Nigeria, China Renew N3.28trn Currency Swap Agreement to Boost Bilateral Trade
Nume Ekeghe
China's central bank yesterday revealed that it has renewed a bilateral currency swap agreement with the
Central Bank of Nigeria (CBN) as part of efforts to boost trade between both countries. The total value of the agreement was N3.28 trillion (15 billion yuan or
about $2.09 billion), China’s Xinhua News quoted the People's Bank of China to have revealed this in a statement on its website. The agreement is valid for three
years and could be renewed upon mutual consent, according to the statement. It said that the renewal of the currency swap arrangement would
strengthen financial cooperation between China and Nigeria, expand the use of the two currencies, and promote and facilitate bilateral trade and investment.
The currency swap agreement was signed by both countries in 2018, when Mr. Godwin Emefiele Continued on page 5
2025: Experts Advise FG to Curb Inflation, Reduce Debt, Stimulate Growth...
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DHQ: Secondary Explosion Responsible for Death of 10 Civilians in Sokoto Not Military Airstrikes Linus Aleke in Abuja
L-R: Senior Partner, ALP NG & Co., Olasupo Shasore; Director & Founder, Shimaneni & Company Inc., Dr. Johannes Shikumuna Shimaneni; Partner, ALP NG & Co., Uyi Giwa-Osagie, and Partner, ALA, Ghana, Ebo Brew-Hammond, during the signing of the Strategic Partnership Agreement between The ALP International Practice Group & Shimaneni & Company Inc. in Windhoek, Namibia…recently
The Defence Headquarters (DHQ), yesterday said the coordinated onslaught against Lakurawa terrorists in Sokoto State by air and land components of Continued on page 5
Ribadu: No Foreign Military Base in Nigeria, We Even Refused US Request Fires back at Niger’s military junta, says Nigeria will maintain diplomatic relations with France, Russia, UK, US, others ECOWAS: Niger’s allegation unfounded Desperate politicians fueling crisis between both countries, northern group declares
Chuks Okocha, Michael Olugbode, Linus Aleke in Abuja and Sunday Ehigiator in Lagos The National Security Adviser (NSA), Mallam Nuhu Ribadu yesterday stressed that there was no foreign military base in Nigeria, pointing out that the country had recently refused an attempt by the United States to set up a base (AFRICOM) within its borders. He also said Nigeria would not sever its diplomatic ties with France over the Republic of Niger's internal squabble with its erstwhile colonial master, adding that the country would also maintain diplomatic relations with Russia, the US, United Kingdom, China, and other countries in the world. Weighing in on the matter, the Economic Community of West African States (ECOWAS) rubbished the claim by the Nigerien military junta that Nigeria and some other countries were sponsoring destabilisation of Continued on page 5
HEARTFELT CONDOLENCES...
L-R: Jigawa State Governor Umar Namadi; Nigeria Governors' Forum (NGF) Chairman, Abdulrahman Abdulrazaq, and Kogi State Governor, Ahmed Usman Ododo, during the visit of the NGF delegation to commiserate with Namadi on the death of his mother and son in Kafin Hausa…yesterday