Tag Archives: China

Nigeria has failed to service its debt to China which has accumulated to N110.31 billion in the last two years. According to report by the Debt Management Office (DMO), the China debt stock included the principal and repayment charges. DMO said that from January 2021 to December 2022, the principal fee stood at N69, 009,417,500 ($153.85million), while the interest charges ...

Plans are in the offing for Chinese banks to start operations in Nigeria, Ambassador Cui Jianchun said on Tuesday. He noted that Nigerian financial institutions are welcome in his country if they decide to come on board. According to him, he is working to ensure the banks open in China and has been taking required steps. Jianchun told reporters in ...

Nigeria’s foreign exchange reserves have climbed beyond $40billion as of last week, according to the Head of Communications, Central Bank of Nigeria (CBN), Isaac Okoroafor. Data from the apex bank shows the reserves rose to $42.8 billion, growing by $3.5 billion since the beginning of the year. The reserves opened the New Year at $39.3 billion. The steady increases have ...

By Nduka Uzuakpundu As Nigeria’s economy eases, with guarded optimism, out of a deep recession, the development has tended to renew investors’ hope in the country. The crawl away from a two-year-long recession, up to 2017, was hit with a nation-wide petrol scarcity for nearly two months up to December, 2017. As some tidiness returns to the economy, hope, among ...

By Nduka Uzuakpundu Nigeria’s President Muhammadu Buhari had a genuine cause, recently, to laud China for her rising investment in the country. China, he said, was a friend of Nigeria – and Africa, in general. At a time of a deep recession, between 2015 and 2017 – the first two years of the Buhari administration – the economic indices of ...

Bitcoin is gaining more prominence globally and Nigeria is definitely not lagging behind. A recent report indicated that Nigeria was a major hub of transactions in the digital currency. As a matter of fact, China and Nigeria lead the world’s peer-to-peer (P2P) bitcoin transactions in the year 2017 out-pacing major European countries, like the United Kingdom, and even the United ...