The
Industrial and Commercial Bank of China Limited, the world’s biggest
lender and Nigeria’s Central Bank on Tuesday signed an agreement on yuan
transactions.
“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,”
Implications:
CBN has signed 'Foreign Exchange Deal' With Chinese Commercial Banks.
Nigerian
businessmen that want to do businesses with Chinese firms can change
Naira to Yuan from Nigeria Bank without having to change Naira to US$
(in Nigeria) for US$ to Yuan (in China)...
source...channelstv
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