Cardoso Engages Business Leaders to Strengthen Nigeria-China Financial Ties

The Central Bank of Nigeria (CBN) has engaged Nigerian and Chinese business leaders in Beijing to explore opportunities to deepen Nigeria’s financial markets and address barriers to stronger financial transactions between the two countries. The high-level business and financial roundtable, themed “Strengthening the Nigeria-China Financial Corridor,” was held at the Pan Pacific Beijing on Wednesday, October 21, 2026.

Speaking at the engagement, CBN Governor, Olayemi Cardoso, stressed the importance of direct engagement with businesses to understand the opportunities and challenges affecting financial activities between Nigeria and China. He noted that such discussions would help identify practical measures to develop deeper, more accessible financial markets and strengthen economic cooperation between the two countries.

The Deputy Governor for Economic Policy at the CBN, Philip Ikeazor, delivered the opening remarks, highlighting the need to translate Nigeria’s improved macroeconomic fundamentals into increased investment and more developed financial markets. Nigeria’s Ambassador to China, Lieutenant General Abdulrahman Bello Dambazau (retd.), also addressed participants, alongside Blue Diamond Group Chairperson, Festus Mbisiogu, and CIG Motors Chairperson, Chief Diana Chen, who shared perspectives on business operations across the Nigeria-China corridor.

During an interactive session, participants discussed ways to improve cross-border payment arrangements, strengthen banking connectivity and expand financial services between the two economies. They also examined the potential benefits of establishing a stronger Nigerian banking presence in China, as well as measures to facilitate investment and improve access to financial opportunities in Nigeria.

The roundtable featured a presentation on Nigeria’s economic reform progress, improved macroeconomic fundamentals and emerging investment opportunities in the country’s financial markets. In his closing remarks, Cardoso emphasised the need to translate the insights gathered from stakeholders into a clearer understanding of the financial and institutional challenges requiring attention.

The CBN said the discussions would inform its continued engagement with relevant financial institutions and regulatory counterparts, with a focus on practical areas of cooperation within its mandate.

The Beijing meeting forms part of the CBN’s broader strategy to strengthen Nigeria’s financial relationships across Asia. Following engagements in Singapore and at the IMF/World Bank Annual Meetings in Bangkok, the Bank’s China programme also includes bilateral discussions with the People’s Bank of China, engagement 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 members of the Nigerian business community to better understand financial challenges and explore opportunities to strengthen remittance channels and facilitate investment in Nigeria.