Samson Echenim 
The much publicized MARAN high level breakfast meeting on Nigeria-China Currency Swap Deal holds tomorrow in Lagos.
Delegations from the Central Bank of Nigeria (CBN), the Federal Ministry of Finance, the Chinese Embassy and the Nigeria-China Strategic Partnership, are expected to attend the forum to assess the impact of the trade deal and all the issues around it.
The high-powered event will also attract importers, exporters, maritime operators and trade organizations.
Themed, “Navigating the Nigeria-Peoples Republic Of China Currency Swap: Opportunities and Challenges for Import, Export and Maritime Business,” the meeting is scheduled to take place tomorrow, Tuesday, April 15, 2025 by 10 prompt at the Rockview Hotel, Apapa, Lagos.
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 foreign currencies for transactions.
According to the President of the Maritime Reporters Association of Nigeria (MARAN), Mr. Godfrey Bivbere, the breakfast meeting is in fulfillment of MARAN’s role as a watch dog in the maritime sector and to ensure that Nigerian businessmen take full advantage of the trade deal.
Bivbere said that the meeting would provide a platform for critical stakeholders in the import and export sectors, policymakers, and government to examine the implications of the currency swap deal, especially in the face of the fluctuating value of the US dollar and its impact on imports.
“The meeting is a very strategic forum organised to foster better understanding of the currency swap deal and its impact on Nigeria’s trade with China,” Bivbere said.
The Chairman of the event, Aare Hakeem Olanrewaju is Chairman of the Customs Consultative Council, Association of Nigerian Licensed Customs Agents (ANLCA).
“The breakfast meeting promises to provide the necessary insights for stakeholders to navigate the opportunities and perceived challenges in the currency swap deal,” Bivbere noted.
China and Nigeria first established the currency-swap agreement in April 2018 for an initial three-year term, addressing dollar shortages in the country. China, Nigeria’s largest trading partner ahead of the US, imported $11.2 billion in goods and services from Nigeria while exporting $2.4 billion in 2023.
The currency swap aims to provide naira liquidity for Chinese businesses and yuan liquidity for Nigerian companies, reducing reliance on the US dollar for transactions. It is feared that this strategic move to sidestep the dollar could risk provoking tensions with U.S. President, Donald Trump.
