CENTRAL BANK OF NIGERIA FINALLY SIGNED THE #CURRENCY_SWAP_DEAL WITH CHINA✍️.
The CENTRAL BANK OF NIGERIA (CBN) have finally signed the currency swap deal we have been expecting for the past 2 years into existence with the Chinese Government. The importance of this is that since almost 70% of the goods we import come from #China and #Asia and 12% #America why must we use Dollars to transact with China? from now instead of using dollars at N500 to 1dollar to import those goods, we can now buy #Yuan at 47 naira to 1 Yuan and import those stuffs directly. INSTEAD OF BUYING THESE GOODS IN DOLLARS IN CHINA, WE WILL NOW BUY THEM IN YUAN WHICH IS 5TIMES CHEAPER DOLLARS..... As usual, another giant stride which Print Media, Electronic Media and Nigerian looters will not report or allow you to understand this victory over supremacy of dollars in our daily lives and economic activities. Up coming reality is that from tomorrow, try to monitor exchange rate. Some of those guys who hoarded foreign currencies to make gains will off load ...