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Nairaland Forum / Nairaland / General / Business / FG To Convert Federal Reserves To Chinese Currency (17189 Views)
Naira Drops To 251/dollar, External Reserves Now $29.7bn / Nigeria’s Gas Reserves To Last 79 Years – DPR / CBN To Switch 5-10% Of Forex Reserves To Chinese Yuan (2) (3) (4)
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Re: FG To Convert Federal Reserves To Chinese Currency by Nobody: 9:22am On Oct 21, 2013 |
Chinese neo-colonialism,,, Nigeria never learns, if Nigeria continues like dz very soon, chinese ppl wud take over every thing in Nigeria, if dz continues very soon a new bag wud be made called China-must-go. I think Nigeria shud start looking for ways to go into manufacturing, than this neva ending stream of import. 1 Like |
Re: FG To Convert Federal Reserves To Chinese Currency by cherriex(f): 9:25am On Oct 21, 2013 |
Ile-Ife:. You are right I understood it better when I read the novel "confessions of the economic hit man" it says everytin abt how the american government enslave governments the modern way nd how they destroy thr ones who refuse their offers. |
Re: FG To Convert Federal Reserves To Chinese Currency by saintol(m): 9:29am On Oct 21, 2013 |
Boosting Sino-Nigeria Relations. |
Re: FG To Convert Federal Reserves To Chinese Currency by vcvibes(m): 9:31am On Oct 21, 2013 |
yuzedo: Well I'll be damned!!!! Where is my nigga Billyonaire? This is serious!!Lol. FG is responding to the U.S shutdown. They taking steps before thh dollars loses its value |
Re: FG To Convert Federal Reserves To Chinese Currency by ITbomb(m): 9:33am On Oct 21, 2013 |
The Chinese currency management policy is a blackbox, we just know that it is strong and much nothing else. Will the money be safe? |
Re: FG To Convert Federal Reserves To Chinese Currency by LushGreenz: 9:33am On Oct 21, 2013 |
I really can't explain why...but I don't trust China - The People,The Government,Their Economic Policies...and in fact their products! GGggrrrr! |
Re: FG To Convert Federal Reserves To Chinese Currency by InvertedHammer: 9:39am On Oct 21, 2013 |
/ Only a flash in the pan. $47 billion is nothing compared to what other countries have at stake. What is Chinese Remnibi pegged to? Floating in the open market? Nigeria is just jumping from one slave master to another. Remember that Nigeria policies are never thought out beyond any current regime....no continuity // 4 Likes |
Re: FG To Convert Federal Reserves To Chinese Currency by networkgenuis: 9:39am On Oct 21, 2013 |
I will be very happy the day I can directly exchange the Naira for RMB without going through the Dollar. |
Re: FG To Convert Federal Reserves To Chinese Currency by mariong(m): 9:42am On Oct 21, 2013 |
I'd say it's a good move considering the looming debt crisis in the US. The Yuan keeps gaining ground as china continues to grow, it will be unwise to have all our eggs in the dollars basket if at all we want to avoid any impending crash. |
Re: FG To Convert Federal Reserves To Chinese Currency by 9jahubcom(m): 9:44am On Oct 21, 2013 |
tm-tech:you think so |
Re: FG To Convert Federal Reserves To Chinese Currency by Nobody: 9:47am On Oct 21, 2013 |
Hmmmmmm........... Are they tired of stealing in dollars? Now they wanna diversify to Renminbi! Soon, we we hear dat d money has disappeared |
Re: FG To Convert Federal Reserves To Chinese Currency by Burger01(m): 9:52am On Oct 21, 2013 |
Shollyps: Who cares? You are from Somalia, right? |
Re: FG To Convert Federal Reserves To Chinese Currency by tigerleggs(m): 9:54am On Oct 21, 2013 |
kizito047: Wanna buildWell done son |
Re: FG To Convert Federal Reserves To Chinese Currency by tigerleggs(m): 9:57am On Oct 21, 2013 |
kizito047: End tym tinzlol |
Re: FG To Convert Federal Reserves To Chinese Currency by slimyem: 9:59am On Oct 21, 2013 |
I'm not surprised. World power gravitating towards China... Where's my chinese language teacher? ..... |
Re: FG To Convert Federal Reserves To Chinese Currency by Hamazz1: 10:00am On Oct 21, 2013 |
From Dollarization to yennanization govt of d people by d people n 4 d people our leaders r truely clueless. |
Re: FG To Convert Federal Reserves To Chinese Currency by ochukoccna: 10:01am On Oct 21, 2013 |
The Americans are the one's digging the greenback's grave with their endless political squabbling I'd have said good move by the CBN but anyone with a little economic knowledge knows the Chinese heavily manipulate their currency Because of the economic troubles of Europe, the Euro is a no no Can't we hold some of our reserves in gold, silver and other precious metals slimyem: I'm not surprised. World power gravitating towards China...Yes,China is becoming a heavy hiter but can they dominate like America has this century? Militarily they still lag behind Russia in spending and resources Economically, do they have/can they match the finance America has spent over the years globally? Recall also that their economy and economics still has heavy goverment control and manipulation Like I said, they are a heavy hitter but can they dominate like America has done so far? 1 Like |
Re: FG To Convert Federal Reserves To Chinese Currency by Johnnoo(m): 10:01am On Oct 21, 2013 |
Shollyps: Who cares? Are you nut, can't you understand simple analogy |
Re: FG To Convert Federal Reserves To Chinese Currency by Nobody: 10:11am On Oct 21, 2013 |
InvertedHammer: /Only a flash in the pan. My thoughts exactly. The Remnibi has been allowed to float since 2005 (around a margin referenced from a basket of other currencies). |
Re: FG To Convert Federal Reserves To Chinese Currency by Nobody: 10:13am On Oct 21, 2013 |
TECNO users say Orrrh-yeeerh... |
Re: FG To Convert Federal Reserves To Chinese Currency by RockMaxi: 10:18am On Oct 21, 2013 |
I wish this is a good move but what is the value of the Chinese currency. How safe is it for us economically? |
Re: FG To Convert Federal Reserves To Chinese Currency by AZeD1(m): 10:19am On Oct 21, 2013 |
ITbomb: The Chinese currency management policy is a blackbox, we just know that it is strong and much nothing else. Will the money be safe?God bless you for the bold part. All those saying this is a good move are ignorant. The Chinese use their currency as a political tool and would manipulate it to their advantage. If the FG wants to diversify they should be buying Gold. Oh and those saying the US is falling and China is the new world power should please give that statement a rest. Half of China's trade is the with the US, if the US fails, China fails. 4 Likes |
Re: FG To Convert Federal Reserves To Chinese Currency by Olaone1: 10:21am On Oct 21, 2013 |
GEJ, you sure sey you wan win in 2015 so? America no dey look face oo. |
Re: FG To Convert Federal Reserves To Chinese Currency by DRPYGRU: 10:23am On Oct 21, 2013 |
Ile-Ife:hmm 1 Like |
Re: FG To Convert Federal Reserves To Chinese Currency by alotofgrace(m): 10:25am On Oct 21, 2013 |
chinko ruling \/ |
Re: FG To Convert Federal Reserves To Chinese Currency by ekpet(m): 10:30am On Oct 21, 2013 |
change they say is parmanent |
Re: FG To Convert Federal Reserves To Chinese Currency by Adesam01(m): 10:31am On Oct 21, 2013 |
Nuvally: Source: Triple H and Stephanie McMahon, WWE |
Re: FG To Convert Federal Reserves To Chinese Currency by Shollyps(m): 10:31am On Oct 21, 2013 |
Johnnoo:i cnt |
Re: FG To Convert Federal Reserves To Chinese Currency by Handsomeemmy(m): 10:35am On Oct 21, 2013 |
Ile-Ife: You said it all, student of political science and international studies and people with knowledge how the western power work will understand your statement well. It was as a result of Nkrumah sudden romance with the East(China and their likes) that brought about the down fall of his govt, Jerry Rawlings leap to power in Ghana was as a result of the fact the fact that Nkrumah choose to do business with China. |
Re: FG To Convert Federal Reserves To Chinese Currency by Shollyps(m): 10:36am On Oct 21, 2013 |
Nuvally:can dis end ASUU strike or poverty in 9ja.nonsence |
Re: FG To Convert Federal Reserves To Chinese Currency by omenka(m): 10:40am On Oct 21, 2013 |
eduson33: good four dame. Leave that thing. Much as I don't understand your english, I would say the consequences of "pulling out" could be dire! Most african countries survive hugely on aids from the US and EU and understand they can't bite the finger that feeds them lest they starve to death. In the distant future, this could be possible but given the ongoing dynamics we have in the continent, from corruption to socio political unrest, and bad leaderships, it would be nearly impossible to attain the kind of independence you are suggesting. |
Re: FG To Convert Federal Reserves To Chinese Currency by Nobody: 10:45am On Oct 21, 2013 |
Good move by the CBN. The only problem I see is a future crash of the Chinese currency itself. |
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