Currency Swap Agreement: Chinese Banks Set to into Nigeria for full operation

The Chinese ambassador to Nigeria, Mr Cui Jianchun, has said Nigerians should be expecting some Chinese banks to start operation in the country very soon..

He also said that Nigerian banks should also be expected to be given the same reception in China, noting that this is one of the major requirements to make the Currency Swap agreement between Nigeria and China work.

The Chinese envoy, who said he was working hard to ensure Nigerian banks commence operations in China, revealed that he was taking the necessary steps that would lead to the setting up of Chinese financial institutions in Nigeria.

soon, envoy discloses Wednesday, October 27, 2021 at 8:16 AM by Aanu Adegun Nigerians have been asked by Mr Cui Jianchun to start looking forward to Chinese banks in the country According to the Chinese ambassador to Nigeria, Nigerian banks should also be expected to be given the same reception in China He also said the Chinese government is desirous of having closer collaboration between the Chinese lawmakers and their Nigerian counterparts PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed! The Chinese ambassador to Nigeria, Mr Cui Jianchun, has said Nigerians should be expecting Chinese banks to start operation in the country. He also said that Nigerian banks should also be expected to be given the same reception in China, noting that this is one of the major requirements to make the Currency Swap agreement between Nigeria and China work. Cui Jianchun says Nigerians should be expecting Chinese banks to start operation in the country. Photo: Femi Adeina Source: Facebook The Chinese envoy, who said he was working hard to ensure Nigerian banks commence operations in China, revealed that he was taking the necessary steps that would lead to the setting up of Chinese financial institutions in Nigeria. READ ALSO 2023 election: Buhari issues stern warning to diplomats Responding to questions from journalists on the success of the currency swap between the two countries at a news conference in Abuja on Tuesday, Jianchun explained that the framework for the N750 billion initiative was being expanded by the Chinese and Nigerian central banks. Do you have a groundbreaking story you would like us to publish? Please reach us through info@corp.legit.ng! The envoy said: “The agreement is being implemented by the two central banks; the framework would be expanded. I believe it is already working and I am working to have Chinese banks here in Nigeria and also for Nigerian banks to operate in China.” Jianchun, who said the Chinese government was desirous of having closer collaboration between the Chinese lawmakers and their Nigerian counterparts, said the eighth Ministerial Conference of the Forum on China-Africa Cooperation will be held in Senegal in late November. He said since its establishment over 21 years ago, FOCAC has bolstered high-level interactions and political trust between China and Africa, delivering a leap in Sino-Africa relations.

Breaking: ASUU suspends 2-week warning strike

The Academic Staff Union of Universities, ASUU, has suspended its two-week warning strike it declared last week across all public universities in the country. The union announced the suspension on Wednesday at a press conference held at its headquarters in Abuja. President of ASUU, Chris Piwuna, who read a prepared speech before newsmen, explained that the development followed intervention by the Senate and some other well-meaning Nigerians. However, he sad the National Executive Council of the Union resolved to give the government a one-month window to address all contending areas.

JUST IN: If Tinubu Had Told Me, I Wouldn’t Have Agreed To Rivers State Of Emergency Rule – Wike

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has stated that he would not have agreed with President Bola Ahmed Tinubu if he had discussed his move to declare a State of Emergency in Rivers State. Wike noted that he is not in conflict with the suspended Rivers State Governor, Sim Fubara He stressed his opposition on the State of Emergency rule, stating that only the President knows the right time to lift it. While speaking to journalists in Abuja on Monday, Wike remarked that Fubara has permitted himself to be manipulated by his adversaries to oppose him. The FCT Minister said: “ I made it clear that this impunity will not stand, so what is happening in PDP is what I call undertakers because I see no reason why you will put yourself under that kind of crisis. “I don’t have any crisis with him (Fubara). I’m not the President who declared a State of Emergency; if Mr President had called me, I wouldn’t have agreed to the State of Emergenc...

Woman Burned to Death, Accused of Kidnapping 7yrs Old Boy in Delta

By Tessy ogbemi An angry mob set ablaze a woman accused in a failed child kidnapping attempt in Agbarho community, Ughelli North Local Government Area of Delta State. The incident happened on Wednesday, September 24, 2025. An eyewitness disclosed at the scene of the incident at Ekwvere Road claimed that the woman hid the seven year old boy she allegedly abducted in a sack, adding that she was even carrying a Bible on one hand. Community sources said some residents in the area accosted the lady when they observed the way she was dragging the sack, to know what she had in it. "She was unstable when they asked her to disclose what she was carrying in the sack. When the bag was forced open, they found a seven year old child in it. They shouted and it attracted a large crowd,” a source said. It was gathered that the angry mob immediately brought a used tyre to the scene, which they forced down her neck after beating her to a pulp. “The lady and the tyre we...

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