 |
| Lukman Otunuga |
Besides,
it has been assessed as a show of the strength of bilateral relations and the
efforts in easing complex negotiations associated with business for the
countries.
A
Research Analyst at Cyprus-based FXTM, Lukman
Otunuga, while speaking to newsmen, described the listing of the nation’s
currency- Naira, under the pre-approved currencies policy of United Kingdom as
a “pleasant surprise.”
“This move by the United Kingdom is a big deal and continues to
highlight how much value the UK places on its relationship with Nigeria. The
deal will ease complications for those importing goods from the UK, further
reinforcing the economic relationship between the two nations and providing an
encouragingly positive outlook for the troubled Naira,” he said.
Last
week, the British government, through its export credit agency, UK Export Finance (UKEF), said it would
now accept payments in Naira from Nigerians who import from there, according to
reports.
The
report also noted that Nigerian businesses buying items of British origin, with
debt facilities from a Nigerian bank would also benefit from the guarantee
backed by the UK government.
But
Otunuga reiterated that sentiment towards the Nigerian economy has continued to
improve, especially when considering how Nigerian businesses will be able to
buy goods from the UK in Naira.
“While the Central Bank of Nigeria could be slightly pressured to
remit the Pound to the UK, the pros of the Naira becoming one of the three West
African currencies that UK Export Finance has pre-approved, outweighs the
cons,” he
added.
Recently,
Afrinvest (West Africa) Limited said
with the upturn in commodity prices, impressive performance in the oil sector,
and adoption of pro-market forex reforms by the central bank, the economy has
clearly become more attractive to foreign and local investors.
The
Group Managing Director of Afrinvest, Ike
Chioke, said: “2017 was indeed a year of recovery
for the Nigerian economy. Through deliberate efforts from the government, we saw
a rebound in economic activity, as well as strengthened investor confidence and
business sentiments.”
According
to him, we expect the economy to continue on its positive trajectory since its
recovery, as the fundamentals still favour the country. (Guardian)
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Nigerian exporters have been defrauded of huge amount of money in the process
of exporting commodities to foreign countries. Do you know why? They were not
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lose money to foreigners in the course of export business. Exporters, why don’t
you get a practical manual that teaches the stages of export trade from
processing and packaging of commodities to receipt of payment by the foreign
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it, click on the link below:
http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
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