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LequteMan
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The kick-off date of Nigeria's currency swap deal with China hasn't been fixed, a report from the Nation says.
Officials of the Central Bank of Nigeria and the Finance Ministry agreed that something was in the offing but couldn't give further details.
“I can’t say for certain that I know the takeoff date. But you know the way government works. I know the countries are trying to work out a suitable exchange rate such that would we can avoid conversion risks of the past when importers from Nigeria had to convert naira to dollars and subsequently to Yuan when they have to import from China. I think the whole idea is to expedite business transaction and ensure quick turnaround," officials say.
Mr. Akinremi Bolaji, spokesman for the Minister of Foreign Affairs, Mr. Geoffrey Onyeama, corroborated this position.
“You know that the minister has spoken much on this subject. As far as I know there is no date that has been announced for this yet. This will be known officially when it is ready,” he said.
Pressed further, he said: “The details are still being worked out. The minister said Nigeria and China are still to fine-tune the process. You the Chinese government has been on this matter for some time now. All they want is make Ghana or Nigeria the hub in the West African sub region. Once the finer points of the details are ironed out the whole thing will be made public. That’s all I can say.”
The Nation
Officials of the Central Bank of Nigeria and the Finance Ministry agreed that something was in the offing but couldn't give further details.
“I can’t say for certain that I know the takeoff date. But you know the way government works. I know the countries are trying to work out a suitable exchange rate such that would we can avoid conversion risks of the past when importers from Nigeria had to convert naira to dollars and subsequently to Yuan when they have to import from China. I think the whole idea is to expedite business transaction and ensure quick turnaround," officials say.
Mr. Akinremi Bolaji, spokesman for the Minister of Foreign Affairs, Mr. Geoffrey Onyeama, corroborated this position.
“You know that the minister has spoken much on this subject. As far as I know there is no date that has been announced for this yet. This will be known officially when it is ready,” he said.
Pressed further, he said: “The details are still being worked out. The minister said Nigeria and China are still to fine-tune the process. You the Chinese government has been on this matter for some time now. All they want is make Ghana or Nigeria the hub in the West African sub region. Once the finer points of the details are ironed out the whole thing will be made public. That’s all I can say.”
The Nation
