Peoples Republic of China and Nigeria have renewed a two-billion-dollar currency-swap agreement aimed at enhancing trade and investment between the two nations.
The arrangement is expected to bolster financial cooperation and promote the broader use of the yuan and naira in bilateral transactions.
The agreement is valid for three years and may be renewed upon mutual consent.
The renewal of the currency-swap deal is anticipated to deepen economic ties, facilitate cross-border trade, and encourage investment by reducing reliance on third-party currencies such as the US dollar.
