As part of implementation of the Nigeria-China currency swap deal, currency traders under the auspices of the Association of Bureaux De Change, BDC Operators of Nigeria, ABCON has asked the Central Bank of Nigeria, CBN to approve Renminbi (Yuan) disbursements to its members.

Alhaji Aminu Gwadabe, President, ABCON, told newsmen in Lagos that the approval would enable BDCs sell Personal and Business Travelling Allowances to its customers in Yuan.

According to him, the sale of BTAs and PTAs to China bound businessmen will make them get used to the authentic features of the Yuan to avoid being issued fake currencies for transactions.

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The ABCON chief applauded the CBN for taking proactive measures in prosecuting the deal and the stability of the Naira at the nation’s foreign exchange market.

Gwadabe noted that the swap deal and its full implementation would continue to shore up the value of the naira as pressures hitherto put on it by the dollar would be reduced.

Recall that the CBN sealed about 720 billion naira deal with the Peoples Bank of China in a move that would facilitate trade between both countries and maintain financial market stability, among others.

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