BEIJING, April 12 (Reuters) - Industrial and
Commercial Bank of China Ltd (ICBC) , the world's
biggest lender, and Nigeria's central bank on
Tuesday signed an agreement on yuan
transactions, a Chinese Foreign Ministry official
said.


"It means that the renminbi (yuan) is free to flow
among different banks in Nigeria and the renminbi
has been included in the foreign exchange
reserves of Nigeria," Lin Songtian, director general
of the foreign ministry's African affairs department,
told reporters.


The agreement was reached following a meeting
between Nigerian President Muhammadu Buhari
and Chinese President Xi Jinping.


(Reporting by Ben Blanchard; Editing by Nick
Macfie)



af.reuters.com/article/nigeriaNews/idAFB9N17A00J?feedType=RSS&feedName=nigeriaNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FAfricaNigeriaNews+%28News+%2F+Africa+%2F+Nigeria+News%29&&rpc=401

Bros do your link well I no fit click am

I dont see why Nigerians should be sending dollars to China.

Thats a good one.

And Nigerian traders import volumes from China than any other country..

Welcome development. This news has made my day

Sai Buhari

This is the sweetest news i've heard so far from PMBs government.

That means we can (to a very large extent) forget about the threat dollar scarcity has caused us.

This will possibly reduce the high rate of inflation we are experiencing.

Hopefully, soon, the businesses that have been shut down due to dollar scarcity will resume production.

Let's see how this goes. Interesting news.

Well PMB. We dey watch

Good one. Weldone PMB.

..
typing..


cc: lalasticlala

Good move I must say....the trade volume between nigeria/china has being on steady increase for the past few years...importers are gonna smile...

I don't really know how these things work but I pray it ends in our favor at the long run. Amen.

A threat to dollar and the self acclaimed super power. They won't take it ligthly. The most populous black nation, the one country who imports everything it uses subverting (technicaly eliminating the middle man) and doing business directly with the manufacturer. I pray this comes to fruition.

Sweet

Irony of life.
Same wailing wailers and ipob touts who often rain abuses on Buhari's trip are the first beneficiaries of this China trip.
Why?
Because their brethren are directly involved in trade activities in China. They often lose between 10%-20% of their money in exchange alone.

Before 2019, PMB will render them useless and shameless.

God is with you Pmb.

Please someone should explain this more, does it mean that i can now pay with China yoan on Facebook ad at a reduced rate instead of paying in $$$ at high rate?

ok

Let's see how it goes

Cc: Bookiemart01

Most Interesting News of the Century...........


We should be expecting another good news in a year's time since this took almost a year.

That means I can buy anything from China website with their currency by changing the website language to Chinese.
Or better still buy from those China websites that are written in their language through Google translate help

I pray our banks do the needful fast

Good news.

Damn USD

Thank you iamcharis for the mention

Importation just got easier

CC infiniteconcept

OKDnigeria:
BEIJING, April 12 (Reuters) - Industrial and
Commercial Bank of China Ltd (ICBC) , the world's
biggest lender, and Nigeria's central bank on
Tuesday signed an agreement on yuan
transactions, a Chinese Foreign Ministry official
said.


"It means that the renminbi (yuan) is free to flow
among different banks in Nigeria and the renminbi
has been included in the foreign exchange
reserves of Nigeria," Lin Songtian, director general
of the foreign ministry's African affairs department,
told reporters.


The agreement was reached following a meeting
between Nigerian President Muhammadu Buhari
and Chinese President Xi Jinping.


(Reporting by Ben Blanchard; Editing by Nick
Macfie)



af.reuters.com/article/nigeriaNews/idAFB9N17A00J?feedType=RSS&feedName=nigeriaNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FAfricaNigeriaNews+%28News+%2F+Africa+%2F+Nigeria+News%29&&rpc=401

Thanks for the mention Bro

iAmCharis:
Cc: Bookiemart01