EXPECTED FINANCIAL BOOM
Naira will gain strength against dollar when currency swap deal takes effect - Economist - The naira is expected to gain strength against the dollar when a currency deal between Nigeria and China takes effect - This view was expressed by a former director general of Abuja Chamber of Commerce and Industry, Dr Chijioke Ekechukwu - Ekechukwu, who is an economist, said that the exercise is expected to reduce pressure on the dollar An economist, Dr Chijioke Ekechukwu, says the naira will gain strength against the dollar when the Nigeria -China currency swap takes effect. Ekechukwu, a former director general, Abuja Chamber of Commerce and Industry, expressed the view in an interview with the News Agency of Nigeria (NAN) in Abuja. According to him, the exercise is expected to reduce pressure on the dollar as letters of credit and other valid payments for imports from China will be in the Chinese currency. The economist said: ”Foreign currency availability will no longer delay or impede impor...