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

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. 
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