A business analyst and the previous Chief General of the West African Establishment for Monetary and Financial Administration, Prof Akpa Ekpo, has asked the national government to view in a serious way the execution of the money trade concurrence with the People groups Bank of China to manage down dependence on dollars for exchange.
Ekpo settled on the decision on Saturday while talking on the country’s unfamiliar trade emergency brought about by the over-dependence on Dollar for global exchange.
He said the ongoing circumstance in the forex market pursues executing the money trade concurrence with China essential.
“This is an ideal opportunity to execute the Nigeria-China cash trade so we don’t tie up our resources in one place.
“So Nigerians managing China ought to manage Chinese money or with Naira, not with Dollar or euro; that will decrease the strain on Dollar or pound.
“This is an ideal opportunity to view it extremely in a serious way; the National Government consented to the arrangement, it was done momentarily then we didn’t have any idea what reoccurred.
Nigeria and China money trade understanding is a three-year economic alliance that began in 2018. It was reestablished in 2021, pointed toward lessening dependence on the Dollar by bringing in from China to reinforce the Naira.