
What this means is that Nigerian traders and importers with majority import from China will now be able to carry on their transactions using the Chinese currency, Renminbi (Yuan) instead of dollar.
Over 90% of Nigeria foreign transactions are in dollars which puts so much pressure on the naira. This new agreement will however ease the pressure on dollars and enable Nigeria-China transactions to be carried out in the Yuan.
Well done presido!
EmoticonEmoticon