It seems the "dollar is a reserve currency for ever and ever" propaganda has not reached Africa, also known as Southern China as explained here two years ago [6], where moments ago the Central Bank of Nigeria issued the following surprise announcement:
- CENTRAL BANK OF NIGERIA TO SELL DOLLARS TO DIVERSIFY RESERVES
- NIGERIA CENTRAL BANK TO RAISE SHARE OF YUAN TO 7% FROM 2%
- NIGERIA CENTRAL BANK TO DIVERSIFY RESERVES INTO YUAN
- NIGERIA CENTRAL BANK CONSIDERING DIM SUM BOND: MOGHALU
But why would anyone buy Yuan when there are so many ever-more diluted dollars available? And now, let's open it up for the most creative Nigerian email scam involving Chinese Yuan...