The Central Bank of Nigeria (CBN) has convened a high-level business and financial roundtable in Beijing, China, to explore ways of deepening Nigeria’s financial markets and strengthening financial flows between the two countries
The meeting, held under the theme, “Strengthening the Nigeria-China Financial Corridor,”provided businesses operating in both markets with an opportunity to discuss banking relationships, financial connectivity and investment channels.
CBN Governor, Olayemi Cardoso, stressed the importance of engaging directly with businesses to understand the opportunities and challenges shaping financial activities between Nigeria and China.
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Cardoso said the engagement would help the Bank develop strategies to build deeper and more accessible financial markets.
The CBN Deputy Governor for Economic Policy, Philip Ikeazor, emphasised the need to translate improved macroeconomic fundamentals into increased investment and more developed financial markets.
Participants were also briefed on Nigeria’s economic reform progress, improved macroeconomic fundamentals and emerging investment opportunities in the country’s financial markets.
The Beijing meeting forms part of the CBN’s broader strategy to strengthen Nigeria’s financial relationships across Asia.
It follows similar engagements in Singapore and during the International Monetary Fund (IMF) and World Bank Annual Meetings in Bangkok.
The Bank’s programme in China also includes bilateral discussions with the People’s Bank of China, engagements with the leadership of the Industrial and Commercial Bank of China (ICBC), and meetings with Nigerian and Chinese businesses.
The engagements are aimed at understanding the financial challenges faced by businesses and exploring ways to strengthen remittance channels and facilitate investment in Nigeria.
