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Nairaland Forum / Nairaland / General / Business / Nigeria, Sierra Leone Plan Currency Swap (41818 Views)
CBN Issues Guidelines For China-Nigeria Currency Swap Deal (Pics) / 41 Items Still Banned Under Nigeria-china Currency Swap Deal / How Nigeria Will Benefit From Currency Swap Deal With China (2) (3) (4)
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Nigeria, Sierra Leone Plan Currency Swap by Blue3k(m): 12:02am On Jan 02, 2020 |
The Chairman, Economic Community of West African States (ECOWAS) Committee of Governors of Central Banks, Prof. Kelfala Kallon, has disclosed a plan for currency swap between Nigeria and Sierra Leone.Source: https://m.guardian.ng/business-services/nigeria-sierra-leone-plan-currency-swap/ 16 Likes 3 Shares
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Re: Nigeria, Sierra Leone Plan Currency Swap by Blue3k(m): 12:36am On Jan 02, 2020 |
Since Nigeria already has a currency swap arrangement with China, Sierra Leone will key into that arrangement. Sierra Leonean import from China can now be done with Naira. This actually pretty good news for the 5 people that do business in Sierra Leone. The Sierra leoneans are benefiting greatly since they're doing the deal increase imports with china. We should see more trade and reduced strain on foreign reserves since nobody looking for dollars. 47 Likes 3 Shares |
Re: Nigeria, Sierra Leone Plan Currency Swap by dawnomike(m): 1:32am On Jan 02, 2020 |
This is the best Nigerian News so far this year!!! 41 Likes 1 Share |
Re: Nigeria, Sierra Leone Plan Currency Swap by CotenantNIG: 1:36am On Jan 02, 2020 |
this is good for both economies Places in Lagos you can get an apartment for as low as ₦50,000 Number 3 would shock you https://cotenant.ng/shared-apartment-flat-apartment-for-rent-in-lagos/ 25 Likes 1 Share |
Re: Nigeria, Sierra Leone Plan Currency Swap by Nobody: 2:32am On Jan 02, 2020 |
Shebi France think say dem get brain? ![]() 102 Likes 7 Shares |
Re: Nigeria, Sierra Leone Plan Currency Swap by Nobody: 2:43am On Jan 02, 2020 |
- 68 Likes 8 Shares |
Re: Nigeria, Sierra Leone Plan Currency Swap by Nonybb: 2:47am On Jan 02, 2020 |
Nigeria is a great nation but was held hostage and championed by the Hausa Fulani illiterate North against the educated south 36 Likes 5 Shares |
Re: Nigeria, Sierra Leone Plan Currency Swap by adamooye: 2:49am On Jan 02, 2020 |
American will not like this. 1 Like 1 Share |
Re: Nigeria, Sierra Leone Plan Currency Swap by saintneo(m): 3:02am On Jan 02, 2020 |
Good |
Re: Nigeria, Sierra Leone Plan Currency Swap by Blue3k(m): 5:05am On Jan 02, 2020 |
If Nigeria switched over to ECO that means China has to renegotiate currency deal. Maybe they expand the amount since they are biggest trading parter in ECOWAS. 2 Likes |
Re: Nigeria, Sierra Leone Plan Currency Swap by Dozie32(m): 5:20am On Jan 02, 2020 |
Naija has finally turned to a place of joke. 1 Like |
Re: Nigeria, Sierra Leone Plan Currency Swap by Nobody: 5:24am On Jan 02, 2020 |
One must give kudos to this administration. A lot still needs to be done but the pace gives hope that there is light at the end of the tunnel. Call Buhari a snail and always note that to every step he made, he left footprints. 47 Likes 5 Shares |
Re: Nigeria, Sierra Leone Plan Currency Swap by Blue3k(m): 5:24am On Jan 02, 2020 |
Dozie32: Can you articulate why you dislike the this deal or are you just ranting? 61 Likes 2 Shares |
Re: Nigeria, Sierra Leone Plan Currency Swap by MoIbrahim: 5:25am On Jan 02, 2020 |
Good start. It's still unclear why the dollar has to always come between two african currencies 18 Likes 1 Share |
Re: Nigeria, Sierra Leone Plan Currency Swap by kolafolabi(m): 5:25am On Jan 02, 2020 |
CotenantNIG:Both economies or only Sierra Leone 1 Like 1 Share |
Re: Nigeria, Sierra Leone Plan Currency Swap by NextPresido: 5:29am On Jan 02, 2020 |
Our government want do Sierra Leone serious 419 Everybody is into yahoo yahoo now ![]() 21 Likes 2 Shares |
Re: Nigeria, Sierra Leone Plan Currency Swap by Blue3k(m): 5:29am On Jan 02, 2020 |
kolafolabi: Both countries since it enhances trade as article states. The extra liquidity makes business cheaper to conduct. This one reason China has so many bilateral trade agreements. MoIbrahim: It comes between because it's a stable currency that widely traded and maintains it value. Parties are just trying minimizing currency risk. This currency swap just one method. 8 Likes 1 Share |
Re: Nigeria, Sierra Leone Plan Currency Swap by OakConsultNG: 5:31am On Jan 02, 2020 |
Interesting times.. Register your Business, Church and Company with the CAC at discounted prices. Check our signature and page for more details. Offer lasts for a limited period only. |
Re: Nigeria, Sierra Leone Plan Currency Swap by prince985(m): 5:31am On Jan 02, 2020 |
I don't understand |
Re: Nigeria, Sierra Leone Plan Currency Swap by GreetMe(m): 5:32am On Jan 02, 2020 |
According to what i understood. Nigeria did a currency swap with China(chinese yuan) to lessen the dependence on the dollar. With China being a very important trade partner with Nigeria and Nigeria having the yuan from the swap, when both countries trade, the yuan can serve in place of the dollar(because the dollar is the common international currency) Since Nigeria is an economic giant in West Africa, Sierra Leone wants to swap currencies with Nigeria, like Nigeria did with China to achieve the same purpose like i explained above. That also means when Sierra Leone is also dealing with China, they can also pay in Nairas since the currency swap Nigeria did with China covers it too. Dats means it's a good development. Economists in the house, I no try? Or I no still understand am 120 Likes 10 Shares |
Re: Nigeria, Sierra Leone Plan Currency Swap by TwoBottles: 5:34am On Jan 02, 2020 |
![]() ![]() Then currency swap is the way to go. |
Re: Nigeria, Sierra Leone Plan Currency Swap by yomalex(m): 5:35am On Jan 02, 2020 |
okay |
Re: Nigeria, Sierra Leone Plan Currency Swap by Bighead9: 5:37am On Jan 02, 2020 |
Nonybb: Cry me a River. ![]() The North is always better than your South East in every aspect. 12 Likes 3 Shares
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Re: Nigeria, Sierra Leone Plan Currency Swap by Stalwert: 5:39am On Jan 02, 2020 |
It really does not make sense how Africans have decided to trade with one another. This is a step in the right direction. 2 Likes |
Re: Nigeria, Sierra Leone Plan Currency Swap by Stalwert: 5:43am On Jan 02, 2020 |
[s] Nonybb:[/s] It is a new year, start using your thinking faculty more instead of seldomly. 4 Likes 2 Shares |
Re: Nigeria, Sierra Leone Plan Currency Swap by sammyj: 5:48am On Jan 02, 2020 |
Good move. I hope the government knows what they are doing anyways because of this moves must be to the advantage of Nigeria!! 1 Like |
Re: Nigeria, Sierra Leone Plan Currency Swap by Pavore9: 5:48am On Jan 02, 2020 |
Dozie32: What joke? 7 Likes |
Re: Nigeria, Sierra Leone Plan Currency Swap by Nobody: 5:52am On Jan 02, 2020 |
BeachLife: Uncle , Gaddafi death was planned by the America and all because he was oppressing them .... Libya would have been the greatest African country as of today if he wasn't killed... Activist trained in US was used against him... IF u notice deeply , Buhari is trying to avert the same faith with the likes of SOWORE and KANU. 24 Likes 4 Shares |
Re: Nigeria, Sierra Leone Plan Currency Swap by SouthNigerian: 5:54am On Jan 02, 2020 |
BeachLife: So General Sanni Abacha was a Southerner? Ibrahim Babangida hailed from the South too, right? Ganduje, the dollarified Kano Governor is a native of Ondo State, shey? etc... The North is the Origin of Nigerian struggles, the North is fantastically corrupt with Power in their hands, the North is the reason why Nigeria is still 1,000,000 miles behind great Nations. Let the Country split up today and see South Nigeria flourishing and competing with top Nations. AGAIN, THE NORTH IS THE PARASITE KILLING NIGERIA. 16 Likes 1 Share
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Re: Nigeria, Sierra Leone Plan Currency Swap by explosiveskull(m): 5:57am On Jan 02, 2020 |
make them no swap the one wey a cup of garri will be sold at 200 naira, I'll just pack to my village and become a quack native dentist. 1 Like |
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