Maritime, Finance Stakeholders Converge for Discourse on Nigeria-China Currency Swaps Deal, Tomorrow

Nifemi Coker

Critical stakeholders in Nigeria’s maritime and finance industries will tomorrow, April 15, 2025, converge at Apapa for a strategic discourse on the trade implications of the Nigeria-China currency swap deal.

The host of the event, Maritime Reporters Association of Nigeria (MARAN), envisage the meeting as a platform to challenge norms and inspire innovation in a rapidly evolving trade landscape.

Themed “Navigating the Nigeria-Peoples Republic Of China Currency Swap: Opportunities and Challenges for Import, Export juand Maritime Business,” the meeting will kick off at 10 a.m prompt,  at Rockview Hotel, Apapa, Lagos.

MARAN President, Mr. Godfrey Bivbere, said that the breakfast meeting will attract participants from the government and private sector as well as the Chinese Embassy in Nigeria.

Also, the Nigeria-China Strategic Partnership, importers, exporters, maritime operators and trade organizations are billed to attend the meeting.

Mr Bivbere said that the Breakfast meeting is in fulfillment of MARAN’s role as a watch dog in the Maritime sector and to ensure that Nigerian business men take full advantage of the meeting.

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.

Mr. Bivbere added 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.

This, he said, will foster better understanding of the currency swap deal and its impact on stakeholders involved in import, export, and maritime businesses.

He noted that the Central Bank of Nigeria and the Federal Ministry of Finance and the Chinese Embassy have confirmed their attendance.

Also, the Chairman of the Breakfast meeting who is the Chairman of the Customs Consultative Council, Aare Hakeem Olanrewaju, the Association of Nigerian Licensed Customs Agents (ANLCA), and other major stakeholders have confirmed they will attend the meeting.

The breakfast meeting promises to provide the necessary insights for stakeholders to navigate the opportunities and perceived challenges in the currency swap deal.