The Central Bank of Nigeria has finally signed The Currency Swap Deal; I know most of you don’t know the meaning of Nigeria dollars, Yuan swap with China… And why American government is desperately smoothing the relationship with Nigeria.
Let’s me get it clearer to you before the enemies of Progress twist it for you. The currency swap deal means in essence that Nigeria will no longer import goods in Dollars but in China Yuan. Soon you will be buying that techno phone you bought at N80,000 for N12,000. This is why even the oppositions, haven’t say anything about it. The currency swap deal has finally be signed by Nigerian Government we have been expecting for the past 2 years into existence with the Chinese government.
The importance of this is that since almost 70% of the goods we import come from China and Asia and 12% America why must we use Dollars to transact with China? From now instead of using dollars at N350 to dollar to import those goods, we can now buy Yuan at 47 naira to 1 Yuan and import those stuffs directly.
Instead of buying these goods in dollars in China, we will now buy them in Yuan which is 5 times cheaper than dollars.
As usual, another giant stride which Print Media, Electronic Media and Nigerian looters will not report or allow you to understand this victory over supremacy of dollars in our daily lives and economic activities.