The Central Bank of Nigeria said that the Nigeria-China currency swap deal would not cover the importation of the 41 items banned in its 2015 circular on items not valid for foreign exchange.
CBN’s acting Director, Corporate Communications, Mr. Isaac Okorafor, made this known in an interview with the News Agency of Nigeria on Sunday in Abuja.
According to him, this will ensure that the currency deal does not stifle local companies and make Nigeria a dumping ground for Chinese goods.
Okorafor said that the CBN had already taken adequate measures to ensure that doesn’t happen.
“The fear is unfounded and I’ll give you reasons why. The first one is that we are going to focus on exports to China.

“Also, remember that we already export cassava products to China as well as leather, hides and skin to China, among others. So, this deal will open further the export market to China.
“Also, I want Nigerians to know that the items that will come in are not necessarily finished goods, so the issue of Nigeria becoming a dumping ground for China does not arise.
“This is because the 41 items that had initially been banned from the Nigerian Foreign Exchange Market will still not qualify under the deal,” he said.
The CBN recently signed a bilateral currency swap agreement with the People’s Republic of China worth about N720bn.
On June 23, 2015, the CBN placed a ban on accessing foreign exchange in the official foreign exchange market for the importation of some goods and services.The aim, it said, was to encourage local production of these items, conserve foreign reserves, resuscitate domestic industries and improve employment.
Some of the items banned were rice, cement, poultry, tinned fish, furniture, toothpicks, kitchen utensils, table wares, textiles, clothes, tomato pastes, soap and cosmetics.
Also banned were private jets, roofing sheets, metal boxes, wire rods, steel nails, security and razor nails, ceramic tiles, glassware, cellophane, plastic and rubber products.
Okorafor said with the Nigeria-China currency swap deal, the Naira was expected to appreciate against the US dollars as the demand for dollar eases.
“China accounts for a quarter or more of imports into Nigeria. The exchange of currencies between the Nigerian Central Bank and the Chinese Central Bank will make it easier for our entrepreneurs to have direct access to foreign exchange in Renminbi (Chinese currency).
“Before now, when importing necessary machinery or merchandise from China, you first exchange Naira to the dollar before changing it again to Renminbi and this puts pressure on the Naira.
“Now what it means is that a large portion of the demand for dollars in Nigeria has been lifted off the back of the Naira and put directly on the Chinese Renminbi.
“And so it is a positive development as it will enhance the value of the Naira and reduce our dependence on the dollar for imports,” he said.
Okorafor explained that the two central banks were still working on the exchange rates between the Naira and Renminbi.
“As we speak, the modalities, the operational manual and the guidelines are being developed. But I can assure you that the exchange rate will be such that it will be competitive, fair to all and will not hurt our local producers and importers,” he said.
According to Okorafor him, once everything has been fine tuned, Nigerian entrepreneurs will be able to access Renminbi through money deposit banks, using similar rules for the dollar.
He, however, stated that a clearing bank would be appointed for the transaction.
He said one of requirements for the appointment was that the bank must have a branch in China, which some Nigerian banks already have.
Okorafor said one of the advantages of the deal was that it would encourage Chinese companies to set up factories in Nigeria, which would lead to industralisation and job creation.
“Chinese investors are interested in setting up shop here. And that is because if they produce here, it will be better for them.
“The cost of transportation, shipping, and all that, will be eliminated. We have a good environment, so a good number of them are interested in setting up production lines here.
“Also, when they do that, they are not going to employ only Chinese workers. A greater portion of the job opportunities in these plants will be filled up by Nigerians.
“So for us, it’s a good deal,” he said.
(NAN)
750405 887728Overall, politicians are split on the issue of whether Twitter is a lot more for business or individual use. The first thing could be the fact which you can build up quite a large following of individuals. 144578
I do not even understand how I finished up right here,
however I thought this submit was good. I don’t recognise who you are
however definitely you are going to a famous blogger in the event you
aren’t already. Cheers!
I needed to thank you for this excellent read!!
I absolutely loved every little bit of it. I have got
you book marked to look at new things you post…
Saved as a favorite, I like your blog!
Hi to every , as I am genuinely keen of reading this website’s post to be updated on a regular basis.
It consists of pleasant information.
Hello, yes this piece of writing is in fact good and
I have learned lot of things from it concerning blogging.
thanks.
I think this is among the most important info for me.
And i’m glad reading your article. But want to remark on some general things, The site style is wonderful,
the articles is really nice : D. Good job, cheers
Definitely believe that which you said. Your favorite reason seemed to be on the internet the easiest thing to be aware of.
I say to you, I certainly get irked while people consider worries that they just do not know
about. You managed to hit the nail upon the top as well
as defined out the whole thing without having side-effects ,
people can take a signal. Will probably be back to get more.
Thanks
I’ll right away snatch your rss feed as I can’t find your email subscription hyperlink or e-newsletter
service. Do you’ve any? Kindly let me understand in order that I could subscribe.
Thanks.
Thanks for any other informative website. The place else could I am
getting that type of info written in such an ideal way?
I have a mission that I am just now running on, and I have been on the look out for such
info.
This is a very good tip particularly to those fresh to the blogosphere.
Simple but very precise information… Thanks for sharing
this one. A must read article!
Hi there! This post couldn’t be written any better! Looking at this article reminds me of my previous roommate!
He always kept preaching about this. I will send this
article to him. Pretty sure he will have a good read. I appreciate
you for sharing!
Hello there, I do think your blog might be having browser
compatibility problems. Whenever I look at your
blog in Safari, it looks fine however, if opening in I.E.,
it’s got some overlapping issues. I just wanted to give you a
quick heads up! Besides that, wonderful blog!
I’ve been surfing online more than 3 hours today, yet I never found any interesting article like yours.
It’s pretty worth enough for me. In my opinion, if all website owners and bloggers made good content as you did, the web will be a lot more
useful than ever before.
Have you ever considered publishing an ebook or guest authoring
on other websites? I have a blog centered on the same subjects you discuss and would really like to have you share some stories/information.
I know my subscribers would enjoy your work.
If you’re even remotely interested, feel
free to shoot me an email.
My partner and I stumbled over here coming from a different page and thought I
should check things out. I like what I see so i am just following
you. Look forward to exploring your web page for a second time.
I couldn’t resist commenting. Perfectly written!
Today, I went to the beach front with my children. I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She
placed the shell to her ear and screamed. There was a hermit crab inside
and it pinched her ear. She never wants to go back!
LoL I know this is entirely off topic but I had to
tell someone!
Your style is really unique compared to other folks I have read stuff from.
Thank you for posting when you have the opportunity, Guess
I will just book mark this page.
Hello I am so excited I found your blog page, I really found you by accident,
while I was looking on Yahoo for something else, Anyhow I am here now and would
just like to say many thanks for a remarkable post and a all round
thrilling blog (I also love the theme/design), I don’t have time to go through it all at the minute but I have bookmarked it and also included your RSS feeds, so when I
have time I will be back to read more, Please do keep up the excellent job.
Asking questions are in fact fastidious thing if you are not understanding anything fully, however this piece of writing offers pleasant understanding yet.
Hey I know this is off topic but I was wondering if
you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates.
I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have
some experience with something like this. Please let me know
if you run into anything. I truly enjoy reading your blog and I look forward
to your new updates.
Pretty section of content. I just stumbled upon your blog and in accession capital to assert
that I get actually enjoyed account your blog posts. Anyway I’ll
be subscribing to your feeds and even I achievement you access consistently rapidly.
Hi there! I know this is somewhat off topic but I was wondering if you knew where I could find a captcha plugin for my comment
form? I’m using the same blog platform as yours and I’m having trouble finding one?
Thanks a lot!
What’s up, this weekend is good in favor of me, as this
point in time i am reading this fantastic educational
paragraph here at my residence.
I delight in, result in I discovered exactly what I was taking a look for.
You have ended my 4 day lengthy hunt! God Bless you man. Have a great day.
Bye
Piece of writing writing is also a excitement, if you know afterward you can write or else it is difficult to write.
Do you have a spam problem on this site; I
also am a blogger, and I was wondering your situation; we have created
some nice procedures and we are looking to swap strategies
with others, be sure to shoot me an email
if interested.
I visited several web pages however the audio feature for audio songs current at this website is actually excellent.
Hi, i read your blog from time to time and i own a similar one and i was just curious if you get a lot
of spam responses? If so how do you stop it, any plugin or anything you can recommend?
I get so much lately it’s driving me insane so any help is
very much appreciated.
This is a topic which is close to my heart… Cheers!
Where are your contact details though?
Hi! This post couldn’t be written any better!
Reading through this post reminds me of my previous room mate!
He always kept chatting about this. I will forward this write-up to him.
Fairly certain he will have a good read. Thank you for sharing!
The other day, while I was at work, my cousin stole my
iphone and tested to see if it can survive a 25 foot drop, just so she can be a youtube sensation.
My iPad is now broken and she has 83 views. I know this is totally off topic but I had to share it with
someone!
I think this is one of the most vital information for me.
And i’m glad reading your article. But wanna remark on few general things, The
web site style is great, the articles is really nice : D.
Good job, cheers
Fantastic goods from you, man. I’ve be mindful your stuff prior to and
you are simply extremely excellent. I really like what you have
bought here, really like what you are saying and the way in which you
are saying it. You’re making it enjoyable and you continue to care for to keep it smart.
I can not wait to learn far more from you. This is actually
a tremendous site.
If some one wishes expert view concerning blogging then i recommend him/her to pay a quick visit this
webpage, Keep up the fastidious work.
Thanks for ones marvelous posting! I seriously enjoyed reading it, you can be
a great author.I will be sure to bookmark your blog and may come back sometime soon.
I want to encourage you to definitely continue your
great work, have a nice holiday weekend!
Touche. Solid arguments. Keep up the good spirit.
I always emailed this weblog post page to all my contacts,
for the reason that if like to read it afterward
my links will too.
If some one desires to be updated with most up-to-date technologies then he must be
go to see this site and be up to date daily.
Woah! I’m really digging the template/theme of this site.
It’s simple, yet effective. A lot of times it’s challenging to get that “perfect balance” between user
friendliness and appearance. I must say that you’ve done a excellent job with this.
Also, the blog loads super fast for me on Opera.
Exceptional Blog!
I don’t even know how I ended up here, but I thought this
post was great. I do not know who you are but certainly you are going to a famous blogger if you aren’t already 😉 Cheers!
Magnificent beat ! I wish to apprentice while you amend
your site, how could i subscribe for a blog web site?
The account helped me a acceptable deal. I had been a little bit acquainted of this your
broadcast provided bright clear concept
Hello! I know this is kinda off topic but I was wondering which blog
platform are you using for this website? I’m getting tired of WordPress because I’ve had issues with
hackers and I’m looking at alternatives for another platform.
I would be great if you could point me in the
direction of a good platform.
This is my first time pay a quick visit at here and i am truly impressed to read everthing at alone place.
Greate post. Keep writing such kind of information on your page.
Im really impressed by your blog.
Hello there, You’ve performed an incredible job.
I’ll certainly digg it and in my opinion recommend to my friends.
I am sure they will be benefited from this website.
I would like to thank you for the efforts you’ve put
in writing this site. I am hoping to view the same high-grade blog posts by you in the future as well.
In fact, your creative writing abilities has motivated me to get
my very own site now 😉
Appreciate this post. Let me try it out.
What’s up to all, the contents present at this web page are truly
awesome for people knowledge, well, keep up the good work fellows.
Thanks for finally talking about > 41 Items On Prohibition List Remain Banned Under Nigeria- China
Currency Swap Deal- CBN Cautions – SolaceBase < Loved it!
This paragraph is truly a good one it helps new the web viewers, who are wishing in favor of blogging.
Thanks for the good writeup. It in fact was a leisure account it.
Look advanced to more delivered agreeable from you!
However, how could we be in contact?
Peculiar article, just what I wanted to find.
Valuable information. Fortunate me I discovered your web site accidentally, and I’m surprised why this accident did not came about earlier!
I bookmarked it.
Hello, this weekend is nice for me, because this occasion i am reading this
great educational article here at my home.
Hi it’s me, I am also visiting this web site regularly,
this site is in fact pleasant and the users are in fact sharing fastidious thoughts.
Hi! Do you use Twitter? I’d like to follow you if that would be ok.
I’m undoubtedly enjoying your blog and look forward to new updates.
There are a lot of variations that you can decide
on when playing reside dealer blackjack.
Wild Casino has a excellent game library filled with quite a few versions of roulette.
Whoa! This blog looks exactly like my old one! It’s on a totally different topic but it has pretty much the same layout and design. Excellent choice of
colors!
My site meilleur casino en ligne [Derek]
You’re so interesting! I do not suppose I have read a single thing like
that before. So good to find somebody with original thoughts on this subject.
Really.. many thanks for starting this up.
This site is one thing that is required on the internet, someone with a little originality!
Here is my web blog; Casino En Ligne Fiable – Guebsch.Me,
It’s hard to come by well-informed people on this subject, however, you seem like you
know what you’re talking about! Thanks
Here is my web site meilleur casino en ligne (Debbie)
Aw, this was a really good post. Finding the time and actual effort to generate a very good article…
but what can I say… I procrastinate a whole
lot and don’t manage to get nearly anything done.
Feel free to visit my blog post casino en ligne (Rosita)
Today, while I was at work, my cousin stole my apple ipad and tested to see if it can survive a 40 foot drop,
just so she can be a youtube sensation. My iPad is now broken and she has
83 views. I know this is completely off topic but I had to share it with someone!
Feel free to surf to my blog post; meilleur casino En ligne (http://swwwwiki.coresv.net/)
This is really interesting, You’re a very skilled blogger.
I have joined your feed and look forward to seeking more of your fantastic post.
Also, I have shared your site in my social networks!
Review my web page jeux casino en ligne (https://web.liquezyasociados.com/)
Hey! I know this is somewhat off-topic but I needed to ask.
Does building a well-established website like yours require a large amount of work?
I am brand new to operating a blog but I do write in my diary everyday.
I’d like to start a blog so I can share my own experience and views online.
Please let me know if you have any recommendations or tips for new aspiring bloggers.
Thankyou!
Also visit my web blog – casino en ligne france (Leonie)
Definitely believe that which you stated. Your favorite reason appeared to
be on the net the simplest thing to be aware of.
I say to you, I certainly get annoyed while people consider worries that they just don’t
know about. You managed to hit the nail upon the top and defined out the whole thing without having side effect , people could take a signal.
Will likely be back to get more. Thanks
my website … casino en ligne francais –
https://dripwiki.com/index.php/Casino_En_Ligne_France,
Excellent items from you, man. I have remember your stuff previous to
and you are simply extremely fantastic. I actually like what
you’ve obtained here, really like what you’re saying and the way by which you are
saying it. You’re making it enjoyable and you still take care of to keep it wise.
I can’t wait to learn much more from you. That is actually a tremendous
site.
Take a look at my page: jeux casino en ligne (http://www.invest74.ru/index.php?action=profile;u=1602425)
I think this is among the so much important information for me.
And i am satisfied reading your article. However wanna observation on some basic issues, The
web site taste is great, the articles is actually great :
D. Excellent activity, cheers
Feel free to surf to my blog post – casino en ligne fiable [phpstack-792613-3000364.cloudwaysapps.com]
It’s truly very complex in this active life to listen news on Television, so
I only use internet for that reason, and obtain the most recent information.
my web blog: casino en ligne Francais (wiki.roronline.Com)
Yes! Finally someone writes about casino en ligne.
My blog; casino en ligne fiable (nofox.ru)
What’s up Dear, are you actually visiting this web page regularly, if
so then you will without doubt get nice know-how.
my web site; casino en ligne (Tammie)
It’s remarkable to pay a visit this web site and reading the views of all
mates about this post, while I am also eager of getting experience.
Here is my web site meilleur casino en ligne (https://www.gstd.net/)
Good info. Lucky me I came across your blog by chance (stumbleupon).
I have saved it for later!
Visit my page – meilleur casino en ligne (Lon)
Hi! Would you mind if I share your blog with my twitter group?
There’s a lot of folks that I think would really appreciate your content.
Please let me know. Thank you
Feel free to surf to my page Jeux Casino En Ligne, Ist-Sa.Co.Kr,
Hurrah! Finally I got a website from where I know how to in fact get valuable facts concerning my study and knowledge.
Feel free to visit my webpage – casino en ligne – wiki.itcoug.com,
Hello! I know this is somewhat off-topic however
I needed to ask. Does managing a well-established
website like yours take a massive amount work? I’m
completely new to operating a blog but I do write in my diary on a daily basis.
I’d like to start a blog so I can easily share my personal experience and feelings online.
Please let me know if you have any recommendations or tips for brand new aspiring blog owners.
Thankyou!
Feel free to surf to my web-site … casino en ligne fiable (https://sustainabilipedia.org/index.php/Casino_En_Ligne_France)
Excellent post! We will be linking to this particularly great post
on our site. Keep up the great writing.
Stop by my page: casino en ligne fiable (joychem.nowmd.co.kr)
Fantastic post however I was wanting to know if you could write a litte more on this subject?
I’d be very thankful if you could elaborate a little bit
more. Thank you!
My web-site :: casino en ligne fiable (gooksi.net)
Hi there, I found your web site via Google even as looking for a
related topic, your web site got here up, it appears to be like great.
I’ve bookmarked it in my google bookmarks.
Hello there, simply turned into alert to your
blog through Google, and found that it’s really informative.
I am gonna be careful for brussels. I will be grateful should you continue
this in future. Many folks will likely be benefited
out of your writing. Cheers!
Take a look at my webpage – casino en ligne france (adrianafoz.com.br)
Наша команда искусных мастеров проштудирована подать вам перспективные системы, которые не только ассигнуруют устойчивую протекцию от заморозков, но и дарят вашему собственности стильный вид.
Мы работаем с последовательными материалами, сертифицируя постоянный срок использования и отличные результирующие показатели. Теплоизоляция фронтонов – это не только сбережение на отапливании, но и забота о окружающей природе. Сберегательные методы, какие мы осуществляем, способствуют не только жилищу, но и сохранению природы.
Самое главное: [url=https://ppu-prof.ru/]Сколько стоит сделать фасад дома с утеплением[/url] у нас открывается всего от 1250 рублей за квадратный метр! Это бюджетное решение, которое сделает ваш помещение в действительный теплый локал с минимальными затратами.
Наши примеры – это не лишь теплоизоляция, это составление поля, в где каждый деталь выражает ваш индивидуальный образ действия. Мы рассмотрим все твои пожелания, чтобы переделать ваш дом еще еще больше уютным и привлекательным.
Подробнее на [url=https://ppu-prof.ru/]http://ppu-prof.ru/[/url]
Не откладывайте труды о своем квартире на потом! Обращайтесь к профессионалам, и мы сделаем ваш обиталище не только теплее, но и по последней моде. Заинтересовались? Подробнее о наших предложениях вы можете узнать на официальном сайте. Добро пожаловать в пределы спокойствия и качества.
Уважаемые Знакомые!
Представляем вам новейшее концепт в мире стилистики интерьера – шторы плиссе. Если вы надеетесь к совершенству в всякой стороне вашего жилища, то эти сукна станут великолепным подходом для вас.
Что делает шторы плиссе настолько живыми особенными? Они сочетают в себе грацию, утилитарность и пользу. Благодаря уникальной конструкции, инновационным тканям, шторы плиссе идеально гармонируют с для любого ложи, будь то гостиная, койка, кухня или офисное поле.
Закажите [url=https://tulpan-pmr.ru]шторы плиссе[/url] – сформируйте уют и красоту в вашем доме!
Чем манят шторы плиссе для вас? Во-первых, их особенный бренд, который присоединяет к привлекательность и лоск вашему обстановке. Вы можете выбрать из разнородных текстур, расцветок и процедур, чтобы отметить индивидуальность вашего дома.
Кроме того, шторы плиссе предлагают многочисленный набор практических вариантов. Они могут управлять уровень сияния в пространстве, покрывать от солнечного света, поддерживать закрытость и формировать комфортную обстановку в вашем жилище.
Мы сайт: [url=https://tulpan-pmr.ru]https://www.tulpan-pmr.ru[/url]
Мы сами поможем вам отыскать шторы плиссе, которые замечательно подойдут для вашего интерьера!
luxury tastic ns394,fake bags,replica
designer dt894
Reps Shoes fu020
replica shoes,Replica Sneakers for Men lf978
Replica Sneakers for Men lx333
replica shoes,replica shoes cp293
Replica Sneakers Dirty White fi921
Replica Sneakers for women,discountshoesmart hm446