England To Add Naira To List Of Accepted Trade Currencies

England's Export Finance Agency will add the Naira to its rundown of "pre-affirmed monetary standards", enabling it to give financing for exchanges Nigerian organizations named in the neighborhood money.

The Naira will wind up noticeably one of three West African monetary standards that UK Export Finance has pre-endorsed for its program of subsidizing exchanges that advance exchange with Britain, it said. England voted to leave the European Union in 2016, which has constrained London to reevaluate its exchange ties with whatever remains of the world.


It has said it would begin preparatory converses with India around an inevitable two-sided exchange bargain. The United Kingdom and the EU reached an accord in December that opened the route for chats on future exchange ties.

“This is a clear indication of how much value the UK places on its relationship with Nigeria. It will provide a firm foundation for a significant increase in trade and investment between both countries,” Reuters quoted the British High Commissioner to Nigeria, Paul Arkwright, to have said in the UK’s credit agency statement.