Nigeria and China have renewed their currency swap agreement worth 15 billion yuan ($2 billion), a move expected to strengthen cooperation and promote bilateral trade and investment between both countries.
In a statement released on Friday, the People’s Bank of China (PBOC) confirmed that the arrangement will remain in place for another three years, with provisions for renewal by mutual agreement.
“The agreement is valid for three years and can be renewed upon mutual consent,” Bloomberg quoted the bank as saying.
