RMB diversification is ‘strategic’ says Nigeria’s central bank governor

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Lamido Sanusi

The Central Bank of Nigeria (CBN) has taken a "strategic" decision to convert up to 10% of its foreign currency reserves into renminbi, its governor has said in an exclusive interview with Central Banking Publications, FX Week's sister publication.

Speaking on the sidelines of the Islamic Financial Intelligence Summit in Kuala Lumpur on November 15, Lamido Sanusi said the decision "recognises the fact China has become a major trading partner to Nigeria". There were further reasons, he added: "It

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