Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has led discussions with Nigerian and Chinese business leaders in Beijing as part of efforts to strengthen financial and investment links between both countries.
The engagement, themed “Strengthening the Nigeria-China Financial Corridor,” brought together business executives, financial sector stakeholders and policymakers to discuss ways of deepening financial market cooperation and improving cross-border financial activity.
Speaking at the roundtable, Cardoso said the engagement was designed to gather direct feedback from businesses on the opportunities and constraints affecting financial transactions and investment flows between Nigeria and China.
CBN Deputy Governor for Economic Policy, Philip Ikeazor, outlined the objectives of the meeting, emphasising the need to translate Nigeria’s improving macroeconomic fundamentals into increased investment and more developed financial markets.
Participants included Nigeria’s Ambassador to China, Lt. Gen. Abdulrahman Bello Dambazau (rtd), Chairperson of Blue Diamond Group, Festus Mbisiogu, and Chairperson of CIG Motors, Diana Chen, who shared perspectives on conducting business across the Nigeria-China corridor.
During an interactive session, business leaders identified key areas requiring attention, including more efficient cross-border payment systems, stronger banking connectivity and a larger Nigerian banking presence in China.
Participants also discussed measures for improving access to financial services and expanding investment opportunities in Nigeria.
The event featured a presentation on Nigeria’s economic reform programme, current macroeconomic developments and opportunities within the country’s financial markets.
In his closing remarks, Cardoso said stakeholder engagement remained important in identifying practical financial and institutional issues that require attention.
The outcomes of the discussions are expected to inform the CBN’s ongoing engagement with financial institutions and regulatory authorities on areas of mutual cooperation.
The Beijing roundtable forms part of the CBN’s broader strategy to deepen Nigeria’s financial relationships across Asia.
The Bank’s China programme includes engagements with the People’s Bank of China, ICBC leadership and business communities in Beijing and Guangzhou. [citation]
