Nigeria: Framework for $2.5bn China Currency Swap Coming Next Week - CBN

23 May 2018

Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele yesterday said that the framework for the $2.5 billion currency swap agreement with the Peoples Bank of China (PBoC) will be released next week, stressing that the deal will ease pressure in the foreign exchange market.

Meanwhile, the CBN yesterday retained the Monetary Policy Rate (MPR) at 14 per cent, along with all other policy parameters. It therefore left Cash Reserve Ratio (CRR) at 22.5 per cent; Liquidity Ratio at 30 per cent and asymmetric corridor at +200/-500 basis points around the PMR.

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