Currency Swap: CBN Sells 3.69bn Yuan In Three Years   The Central Bank of Nigeria has said it sold 3.69 billion yuan from the inception of the currency swap deal with China to June this year. The apex bank disclosed this in its ‘Financial markets department 2021...

Currency Swap: CBN Sells 1.45bn Yuan In Two Years         The Central Bank of Nigeria has said it sold 1.45 billion yuan since the inception of the currency swap deal with China and the end of 2019. The CBN disclosed this in its 2019 Activity Report released...

ABCON Seeks Boost For Naira-Yuan Swap Deal   The President, Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, has said that the ongoing economic, trade and currency wars between the United States of America and Russia/ Asian countries present Nigeria with some lifetime...

CBN To Commence Bi-weekly Auction Of Chinese Yuan   Following the $2.5 billion bilateral currency swap agreement signed last month between the Central Bank of Nigeria (CBN) and the People’s Bank of China (PBoC), the CBN Thursday announced plans to start bi-weekly auctions of the Chinese...

China’s foreign exchange reserves unexpectedly rose for the first time in eight months in February, rebounding above three trillion dollars as a regulatory crackdown and weakness in the dollar helped staunch capital outflows. Reserves rose 6.92 billion dollars in February to total 3.005 trillion dollars,...

Nigerians have, in recent times, found it exceedingly difficult to pay for services like education and health care in other countries due to the weakness of the naira, but the recent deal between Nigeria and China may just be the panacea to resuscitating the...