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CBN begins forex trading in Chinese currency

CBN begins forex trading in Chinese currency

The Central Bank of Nigeria (CBN) on Friday kicked off its intervention in the sale of foreign exchange (forex) in Chinese Yuan (CNY). The exercise marked the consummation of the Bilateral Currency Swap Agreement (BCSA) the CBN signed with the People’s Bank of China (PBoC) in April 27. A statement issued by the CBN disclosedRead More
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Nigeria-China currency swap deal: CBN begins Chinese Yuan sales

Nigeria-China currency swap deal: CBN begins Chinese Yuan sales

The Central Bank of Nigeria (CBN) on Friday launched the sale of foreign exchange in Chinese Yuan (CNY) signalling the consummation of the Nigeria-China Currency Swap Agreement. The CBN acting Director,  Corporate Communications, Mr Isaac Okorafor, said that the sale would be done through a combination of Spot and Short Tenored Forwards. Okorafor added that theRead More
The post Nigeria-China currency swap deal: CBN begins Chinese Yuan sales appeared first on The Nation Nigeria. …

BoI secures $750mn Afreximbank loan at single digits for MSMEs

BoI secures $750mn Afreximbank loan at single digits for MSMEs

The $750 million (N250 billion) syndicated loan facility which the Bank of Industry (BoI) received from the African Export-Import Bank (Afreximbank) will be disbursed to Micro, Small and Medium Enterprises at single digit interest rate. Managing Director, Bank of Industry, Mr Olukayode Pitan made this disclosure on the last day of the Afreximbank 25th AnniversaryRead More
The post BoI secures $750mn Afreximbank loan at single digits for MSMEs appeared first on The Nation Nigeria. …

Nigeria-China currency swap, CBN’s last ditch effort to salvage naira

Nigeria-China currency swap, CBN’s last ditch effort to salvage naira

Omodele Adigun Although Nigeria has committed to the execution of the naira-yuan swap deal to salvage
The post Nigeria-China currency swap, CBN’s last ditch effort to salvage naira appeared first on The Sun News. …

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