- Central Bank of Nigeria extends Renminbi auctions to support trade-backed transactions
- Officials cite potential risks from lower oil earnings, rising import bills, and external debt
Lagos, Nigeria – The Central Bank of Nigeria (CBN) will continue its auctions for the sale of China’s Renminbi on trade-backed transactions to authorised dealers, according to the bank’s Monetary, Credit, Foreign Trade and Exchange Rate Policy Guidelines for the 2024/2025 fiscal years, released on Tuesday.
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