The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, representatives from the Federal Ministry of Finance, and the Chairman of the Customs Consultative Council, Aare Hakeem Olanrewaju, have all promised put up attendance at the Maritime Reporters Association of Nigeria (MARAN) breakfast meeting on Nigeria-Peoples Republic Of China currency swap.
Tagged “Navigating the Nigeria-Peoples Republic Of China Currency Swap: Opportunities and Challenges for Import, Export and Maritime Business”, the forum is scheduled to take place on Tuesday, April 15, 2025, at the Rockview Hotel in Apapa, Lagos.
MARAN President, Godfrey Bivbere, confirmed that the CBN Governor has assured the association of full representation at the meeting.
Similarly, the Federal Ministry of Finance according to him, has expressed interest in participating.
The Chairman of the breakfast meeting, Aare Hakeem Olanrewaju, has also committed to being present.
Other key stakeholders who have indicated their intention to participate include representatives from the Chinese Embassy and the Association of Nigerian Licensed Customs Agents (ANLCA).
The event is expected to draw a diverse range of participants, including the Nigeria-China Strategic Partnership (NCSP), importers, exporters, maritime operators, policy-makers, economists, financial institutions, and trade organisations.
According to Bivbere, this crucial forum aligns with MARAN’s commitment to setting agenda and critically analysing key government policies impacting the maritime industry. The Nigeria-China currency swap aims to facilitate bilateral trade by providing Naira liquidity to Chinese businesses and Yuan liquidity to Nigerian businesses, thereby reducing reliance on the US dollar for transactions.
The breakfast meeting will provide a platform for critical stakeholders in the import and export sectors, policymakers, and government agencies to converge and examine the implications of this landmark agreement on the maritime industry, particularly in the context of the fluctuating value of the US dollar and its impact on imports.
Bivbere further stated that the event aims to foster an enhanced understanding of the Nigeria-Peoples Republic Of China currency swap and its multifaceted impact on stakeholders involved in import, export, and maritime businesses.
“It has become imperative for Nigeria to adopt innovative strategies to safeguard its economic stability and reduce dependency on the U.S. dollar for international trade.
“This currency swap agreement with China is a crucial step in that direction, and this forum will provide the necessary insights for stakeholders to navigate its opportunities and challenges”, Bivbere added.