{"id":104751,"date":"2023-12-20T21:54:35","date_gmt":"2023-12-20T20:54:35","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/speed-up-adoption-of-chinese-currency-reps-urge-fg"},"modified":"2023-12-21T00:30:51","modified_gmt":"2023-12-20T23:30:51","slug":"speed-up-adoption-of-chinese-currency-reps-urge-fg","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/speed-up-adoption-of-chinese-currency-reps-urge-fg","title":{"rendered":"\u2018Speed up adoption of Chinese currency\u2019 \u2013 Reps urge FG"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The House of Representatives has urged the Federal Government and the Central Bank of Nigeria to speed up the adoption of the Chinese Yuan as an alternative trading currency.<\/p>\n

This call was contained in a resolution adopted on Wednesday following a motion moved by Jafaru Leko.<\/p>\n

The Federal Government announced a bilateral currency swap agreement between Nigeria and China.<\/p>\n

In the motion, Leko urged the government to adopt the current amidst the struggle of the naira against major Western currencies.<\/p>\n

He said the government should adopt the currency as part of Nigeria\u2019s foreign reserve.<\/p>\n

\u201cChinese Yuan as an additional foreign exchange reserve currency might mitigate the adverse effects of Naira depreciation, reduce the risks associated with exchange rate fluctuations, and enhance Nigeria\u2019s economic stability,\u201d he said.<\/p>\n

He argued that China had already assumed a leading role in the global economy.<\/p>\n

Following the adoption of the motion, the House resolved that the committees on Banking Regulations, Banking, and Other Ancillary Institutions liaise with the Central Bank of Nigeria to explore the appropriate mechanisms to speed up the 2018 agreement on Yuan.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The House of Representatives has urged the Federal Government and the Central Bank of Nigeria to speed up the adoption of the Chinese Yuan as an alternative trading currency. This call was contained in a resolution adopted on Wednesday following a motion moved by Jafaru Leko. The Federal Government announced a bilateral […]<\/p>\n","protected":false},"author":84,"featured_media":104750,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1570,2140,12227,701,254,1589],"class_list":["post-104751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-nigeria-2","tag-chinese-currency","tag-fg","tag-nigeria","tag-reps"],"yoast_head":"\n\u2018Speed up adoption of Chinese currency\u2019 \u2013 Reps urge FG - Nigeria<\/title>\n<meta name=\"description\" content=\"The House of Representatives has urged the Federal Government and the Central Bank of Nigeria to speed up the adoption o ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/speed-up-adoption-of-chinese-currency-reps-urge-fg\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Speed up adoption of Chinese currency\u2019 \u2013 Reps urge FG\" \/>\n<meta property=\"og:description\" content=\"The House of Representatives has urged the Federal Government and the Central Bank of Nigeria to speed up the adoption o ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/speed-up-adoption-of-chinese-currency-reps-urge-fg\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-20T20:54:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-20T23:30:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1703098489.538067.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"829\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/speed-up-adoption-of-chinese-currency-reps-urge-fg#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/speed-up-adoption-of-chinese-currency-reps-urge-fg\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"\u2018Speed up adoption of Chinese currency\u2019 \u2013 Reps urge FG\",\"datePublished\":\"2023-12-20T20:54:35+00:00\",\"dateModified\":\"2023-12-20T23:30:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/speed-up-adoption-of-chinese-currency-reps-urge-fg\"},\"wordCount\":202,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/speed-up-adoption-of-chinese-currency-reps-urge-fg#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1703098489.538067.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Chinese currency\",\"FG\",\"Nigeria\",\"Reps\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/speed-up-adoption-of-chinese-currency-reps-urge-fg#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/speed-up-adoption-of-chinese-currency-reps-urge-fg\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/speed-up-adoption-of-chinese-currency-reps-urge-fg\",\"name\":\"\u2018Speed up adoption of Chinese currency\u2019 \u2013 Reps urge FG - 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