The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, Federal Ministry of Finance and the Chairman, Customs Consultative Council (CC), Aare Hakeem Olanrewaju have confirmed their readiness to attend the Maritime Reporters Association of Nigeria (MARAN) breakfast meeting on Nigeria/Peoples Republic of Nigeria Currency Swap,
The breakfast meeting with the theme “Navigating the Nigeria-Peoples Republic of China Currency Swap: Opportunities and Challenges for Import, Export and Maritime Business”, is scheduled to take place on Tuesday, April 15, 2025, at Rockview Hotel in Apapa, Lagos.
MARAN President, Mr. Godfrey Bivbere who dropped the hint in Lagos stated that the participation of key government and industry leaders at its forthcoming breakfast meeting will enable them make informed contributions on the theme.
According to him, the CBN Governor has assured MARAN of the full representation of the apex bank at the meeting.
He also disclosed that the Federal Ministry of Finance has expressed interest in participating in the event.
In the same vein, Olanrewaju who is the Chairman of the breakfast meeting has also confirmed his readiness to attend the occasion which is expected to attract stakeholders in the maritime industry and beyond.
Other key stakeholders who have indicated their intention to participate include representatives from the Chinese Embassy and the Association of Nigerian Licensed Customs Agents (ANLCA).
The event is expected to draw a diverse range of participants, including the Nigeria-China Strategic Partnership (NCSP), importers, exporters, maritime operators, policy-makers, economists, financial institutions, and trade organizations.
Bivbere explained that the breakfast meeting aligns with MARAN’s commitment to setting the agenda and critically analyzing key government policies impacting the maritime industry.
According to him, 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 the US dollar for transactions.
The breakfast meeting will provide a platform for critical stakeholders in the import and export sectors, policymakers, and government agencies to converge and examine the implications of this landmark agreement on the maritime industry, particularly in the context of the fluctuating value of the US dollar and its impact on imports.
He also stated that the event aims to foster an enhanced understanding of the Nigeria-Peoples Republic of China currency swap and its multifaceted impact on stakeholders involved in import, export, and maritime businesses.
“It has become imperative for Nigeria to adopt innovative strategies to safeguard its economic stability and reduce dependency on the U.S. dollar for international trade. This currency swap agreement with China is a crucial step in that direction, and this forum will provide the necessary insights for stakeholders to navigate its opportunities and challenges,” he added.
