Mar 07, 2018 Posted by vieews in News

The Naira is soon to be added to currencies for trade transactions in the U.K. It will become one of the three currencies for trade transactions in the West African sub-region as declared by the UK Export Finance Agency.

Nigerian Niara

Image source:https://www.reuters.com/

This move will eventually allow the Nigerian currency to be accepted in the U.K. if you wish to make purchases and financing in Naira.

The exception to this is that loans taken in the local currency will have to be paid in the local currency.

This goes to show the value the UK places on its relationship with Nigeria. This strengthens the foundation between the two countries by increasing trade and investment.

 

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