With the currency swap deal signed yesterday, the Yuan is now free to flow among different banks in Nigeria and our business men and women can now access machineries , factory spare parts etc from China at a very affordable rate without bordering about dollar rates. In other words you can settle your trade deals with China in Yuan.
It's a beautiful development.
~ Olusegun Mark.

C. B. N need to as a matter urgency make a statement on how the usage is applicable.. Can access the Yuan from the local bank.. Is it possible to make online transactions etc.. So we need more information on this.. Femi Adesina Garba Shehu.

Could u imagine d economic implication of this in d eyes of int'l world? Dollar has been d world standard currency b4 now, only for Nigeria to make a radical turn on dollar to embrace Chinese Yuan. Of course, China who want to make their currency world standard will readily consent to this. But i fore see grave danger economic wise for any country that folows suit like our dear Naija. Ur guess is as good as mine

so laptop that normally goes for 55k on Chinese websites will now be 20k. I love this.

Am impressed

No bank is selling for that price yet

Austin234:
Could u imagine d economic implication of this in d eyes of int'l world? Dollar has been d world standard currency b4 now, only for Nigeria to make a radical turn on dollar to embrace Chinese Yuan. Of course, China who want to make their currency world standard will readily consent to this. But i fore see grave danger economic wise for any country that folows suit like our dear Naija. Ur guess is as good as mine

Your analysis is baseless,lacks authority and very fallacious.

Where can I buy yuan? Seems like a good time to buy for speculation

New millionaires will be made with this!
Those living and trading in China will become the new celebrities.

Pashim:


Your analysis is baseless,lacks authority and very fallacious.

Let me help out a bit.
You will import in yuan, cancelling the effects of dollar restrictions, and destroying the diversification policy.
China will buy your crude with yuan, increasing its presence in our reserves and making it stronger against the naira.
One ship load of crude will be over 10 times the value of your imports, meaning a net inflow of china's currency into nigeria.
A much better policy would've been to bring back the same value in INVESTMENTS, to be paid for in dollars, strengthening our local currency, against the dollar.
Meanwhile, no one's asked about the loan repayment terms, as if china is dashing us money.
Our head correct so?

Austin234:
Could u imagine d economic implication of this in d eyes of int'l world? Dollar has been d world standard currency b4 now, only for Nigeria to make a radical turn on dollar to embrace Chinese Yuan. Of course, China who want to make their currency world standard will readily consent to this. But i fore see grave danger economic wise for any country that folows suit like our dear Naija. Ur guess is as good as mine

This is why China was able to emerge from 3rd world to 1st world because they don't fear the west like you do.

Why cant u substantiate ur own authoritative assertion and stop opposition without an iota of idea

Pashim:


Your analysis is baseless,lacks authority and very fallacious.

The world power like USA cannot be moved by emotion. PMB telling them i am not corupt make no difference. They want to see in practical terms ur readines to spur ur country to greater height

2sexyus:
This is why China was able to emerge from 3rd world to 1st world because they don't fear the west like you do.

Nobody has answered my question here, so as a result of this agreement between Nig and China can i make online transactions for N199/$ or less to any merchant any were in the world? eg pay Fac N199 ebook ads for /$