Financial experts across the country have welcomed the $2.5 billion currency swap deal signed by the Central Bank of Nigeria (CBN) and the People’s Bank of China (PBoC.)


The deal, which is aimed at enhancing foreign reserve management and facilitating trade between the two countries, was signed in Beijing on Friday, April 27, by Governor of the CBN, Mr. Godwin Emefiele, and PBoC Governor, Dr. Yi Gang, according to a statement released by CBN spokesman, Mr. Isaac Okorafor, yesterday.
CBN said it had been in discussions with China on the deal for more than two years, adding that Nigeria is the third African nation to agree a currency swap deal with China.

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