Group Speaks on Implications of Renewed Nigeria, China Currency Agreement [Video]

• Nigeria may encounter several challenges in its efforts to implement the Africa Continental Free Trade Area, according to a research group
• This is in consideration of the renewal of a currency-swap agreement between China and Nigeria worth 15 billion yuan ($2 billion) recently
• According to the People’s Bank of China, the currency-swap agreement renewal is anticipated to facilitate cross-border trade and strengthen economic ties

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

A group run by the Sea Empowerment Research Centre, Nigeria‘s active involvement and actions in implementing the Africa Continental Free Trade Area may face a number of obstacles as a result of the currency exchange agreement between China and Nigeria.

According to a document signed by the group’s leader, Eugene Nweke, and obtained by The PUNCH on Saturday, …