CBN engages Nigerian, Chinese businesses to strengthen financial ties
By Abiodun Folarin
The Central Bank of Nigeria (CBN), has engaged Nigerian and Chinese business leaders on measures to improve cross border payments, strengthen banking relationships and expand investment flows between the two countries.
The engagement, led by CBN Governor Olayemi Cardoso, took place at a high level business and financial roundtable in Beijing, China, on Wednesday, October 21, 2026, under the theme, “Strengthening the Nigeria–China Financial Corridor.”
The roundtable, held at the Pan Pacific Beijing, provided a platform for businesses operating in both markets to identify barriers to financial transactions and propose practical measures to improve access to banking services and investment opportunities.
Cardoso said direct engagement with businesses was essential to understanding the opportunities and constraints affecting financial activities between Nigeria and China, particularly as the bank seeks to develop deeper and more accessible financial markets.
CBN Deputy Governor for Economic Policy, Philip Ikeazor, delivered the opening remarks, highlighting the need to translate improvements in Nigeria’s macroeconomic fundamentals into increased investment and deeper financial markets.
Nigeria’s Ambassador to China, Lt. Gen. Abdulrahman Bello Dambazau (rtd), also addressed the participants, alongside Blue Diamond Group Chairperson, Festus Mbisiogu, and CIG Motors Chairperson, Chief Diana Chen, who shared perspectives from businesses operating across the two economies.
Discussions at the roundtable focused on improving the efficiency of cross-border payment systems, strengthening banking connectivity and exploring the potential benefits of expanding the presence of Nigerian banks in China.
Participants also examined broader measures to facilitate financial flows and improve access to financial services and investment opportunities in Nigeria.
The meeting featured a presentation on Nigeria’s economic reform programme, improving macroeconomic fundamentals and emerging investment opportunities in the country’s financial markets.
In his closing remarks, Cardoso stressed the importance of translating feedback from businesses into a clearer understanding of the financial and institutional constraints requiring attention.
The CBN said insights from the engagement would inform its continued discussions with relevant financial institutions and regulatory counterparts, with a focus on practical areas of cooperation within its mandate.
The Beijing roundtable forms part of the CBN’s broader efforts to strengthen Nigeria’s financial relationships across Asia.
The bank’s China programme 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 programme is expected to extend to Guangzhou, where the CBN will hold a listening session with Nigerian business operators to identify financial challenges and explore opportunities to strengthen remittance channels and facilitate investment in Nigeria.
