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Economists evaluate Nigeria-China currency swap


Economists evaluate Nigeria-China currency swap
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Some Financial Economists have expressed great concerns on the minor influence that the Nigeria-China currency swap had  on the country’s economy, three years after.
The experts told the Newsmen in Lagos on Friday  that the volume of currency import so far traded, had not been significant, though a few swaps took place.
The pact which marked three years of implementation in April, was signed on April 27, 2018, to ease demand pressure on the country’s supply of foreign exchange.
The Chief Executive Officer of Arvo Finance, Mr Ayotunde Bally, said that the pact had not been fully utilised due to a decrease in the drawdown of the money input of the Chinese Yuan to the Central Bank of Nigeria. ....

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More commendations trail reopening of Nigeria's land borders


More commendations trail reopening of Nigeria’s land borders
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More commendations continued to trail the Federal Government’s directive for the immediate reopening of four land borders that were shut about 15 months ago.
Those opened are the Seme in the South-west, Mfun in the South-south, Ilela and Maigatari borders in the North-west.
The government also promised to reopen others before Dec. 31.
Speaking with the News Agency of Nigeria (NAN) on the development on Friday in Lagos, Chief Executive Officer of ARVO Finance, Ayotunde Bally, described the government’s decision as a welcome development.
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