Joyce Mmereole Okoli
The Maritime Reporters Association of Nigeria (MARAN) has announced the confirmed attendance of several high-profile government and industry leaders at its upcoming breakfast forum focused on the Nigeria–China currency swap agreement.
Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, representatives of the Federal Ministry of Finance, and Chairman of the Customs Consultative Council, Aare Hakeem Olanrewaju, are among the key figures expected at the event. The forum, titled “Navigating the Nigeria-Peoples Republic Of China Currency Swap: Opportunities and Challenges for Import, Export and Maritime Business,” is set to take place on Tuesday, April 15, 2025, at the Rockview Hotel, Apapa, Lagos.
According to MARAN President Godfrey Bivbere, the forum will serve as a platform for stakeholders to examine the practical implications of the currency swap agreement on trade, maritime operations, and Nigeria’s broader economic landscape.
“The CBN Governor has assured us of the Bank’s representation at this critical engagement, and the Finance Ministry has also indicated strong interest. Aare Hakeem Olanrewaju, who will chair the meeting, has confirmed his attendance as well,” Bivbere said.
The event is expected to attract a wide array of participants, including representatives from the Chinese Embassy, the Association of Nigerian Licensed Customs Agents (ANLCA), the Nigeria-China Strategic Partnership (NCSP), importers, exporters, financial institutions, and trade policy experts.
MARAN said the currency swap agreement between Nigeria and China is designed to ease pressure on Nigeria’s foreign exchange market by enabling trade settlements in Naira and Yuan, thereby reducing reliance on the US dollar.
Bivbere emphasized the need for deeper industry understanding of the agreement, particularly in light of current forex volatility.
“It has become imperative for Nigeria to adopt innovative strategies to safeguard economic stability. This currency swap is a vital tool in reducing dollar dependency, and this forum will provide the insights stakeholders need to fully understand and leverage the policy,” he noted.