Tag: Naira

Perspective | Nigeria-China currency swap deal: The untold story. (2)

What’s The Truth?

Don’t forget that the donor country, China is not giving you the currency as cash to boast the country’s liquidity ratio index within your foreign account reserve, rather, such amount is consolidated in a syndicated vault under an accounting heading, where all Nigerians purchases from China will be debited with the equivalent of Yan instead of Dollar, as converted in the rate agreed by both countries.