Joyce Mmereole Okoli
The Maritime Reporters Association of Nigeria (MARAN) is set to convene a high-powered breakfast meeting to discuss the Nigeria-China Currency Swap Deal, bringing together key stakeholders from both countries to explore the opportunities and challenges of the bilateral arrangement.
Scheduled for Tuesday, April 15, 2025, at the Rockview Hotel, Apapa, Lagos, the meeting will run under the theme: “Navigating the Nigeria-Peoples Republic of China Currency Swap: Opportunities and Challenges for Import, Export and Maritime Business.”
Speaking ahead of the event, MARAN President, Mr. Godfrey Bivbere, said the gathering will attract participants from government institutions, private sector operators, and the Chinese Embassy in Nigeria. Also expected are representatives from the Nigeria-China Strategic Partnership, importers, exporters, maritime operators, and various trade organizations.
According to Mr. Bivbere, the initiative aligns with MARAN’s commitment to its role as a watchdog in the maritime industry and aims to ensure that Nigerian businesses fully leverage the benefits of the currency swap arrangement.
The Nigeria-China currency swap deal is designed to facilitate smoother bilateral trade by providing liquidity in Naira for Chinese businesses and in Yuan for Nigerian enterprises. This is expected to reduce dependency on third-party currencies like the US dollar, especially critical given current exchange rate volatility.
“This meeting will provide a crucial platform for stakeholders in the import-export and maritime sectors, as well as policymakers, to engage deeply with the implications of the currency swap deal,” Mr. Bivbere stated.
He emphasized that a better understanding of the agreement is essential for businesses seeking to navigate the evolving trade environment between the two nations.
Adding weight to the discussions, the Central Bank of Nigeria, the Federal Ministry of Finance, and the Chinese Embassy have all confirmed their participation. The event will be chaired by Aare Hakeem Olanrewaju, Chairman of the Customs Consultative Council.
The Association of Nigerian Licensed Customs Agents (ANLCA) and other major industry stakeholders are also expected to be in attendance.