China-Nigeria Currency Swap At Risk: Ex-Diplomat Warns Government Over Ambassador Appointment

China-Nigeria Currency Swap At Risk: Ex-Diplomat Warns Government Over Ambassador Appointment

Former Nigerian High Commissioner to Australia, Ambassador Ayoola Olukanmi, has stressed that the success of the renewed currency swap deal between Nigeria and China hinges on the appointment of key envoys to oversee its implementation….China-Nigeria Currency Swap At Risk: Ex-Diplomat Warns Government Over Ambassador Appointment

Olukanmi, speaking in an interview with Channels TV, pointed out that the initial 2018 deal had faltered due to a lack of follow-up by the Nigerian government.

The renewed agreement, valued at 15 billion yuan (approximately $2.09 billion), aims to strengthen trade between both nations and is expected to enhance economic ties. Olukanmi applauded President Bola Tinubu’s administration for renewing the deal but emphasized the need for the government to appoint substantive ambassadors to ensure its success.

He explained, “While the currency swap deal is vital, it is the role of principal envoys to effectively carry it out. Without the right ambassadors on the ground, the deal’s implementation will face hurdles. I urge the government to prioritize appointing ambassadors to represent Nigeria globally.”

Olukanmi, who has previously served as Nigeria’s diplomat and as Director General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, believes that timely action on the ambassadorial appointments is crucial for the deal’s success.

The full list of proposed ambassadors is set to be submitted to the Senate for ratification, but Olukanmi warned that delays in this process could undermine the effectiveness of the agreement.

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