The Central Bank of Nigeria (CBN) has begun discussions with Nigerian and Chinese business leaders to address barriers to cross border financial transactions, strengthen banking relationships and expand investment flows between the two countries.
The initiative was discussed at a business and financial roundtable held in Beijing on Wednesday, October 21, 2026, under the theme, “Strengthening the Nigeria-China Financial Corridor.”
The meeting, organised at the Pan Pacific Beijing, brought together stakeholders from both economies to examine practical challenges affecting financial connectivity and identify opportunities to deepen Nigeria’s financial markets.
CBN Governor, Olayemi Cardoso, highlighted the importance of engaging directly with businesses to understand the difficulties they encounter and identify measures that could improve financial transactions between Nigeria and China.
The discussions focused on strengthening banking connections, improving payment arrangements and expanding access to financial services and investment opportunities across the two markets.
Opening the session, the CBN Deputy Governor for Economic Policy, Philip Ikeazor, outlined the need to translate improvements in Nigeria’s macroeconomic fundamentals into increased investment and stronger financial market development.
Nigeria’s Ambassador to China, retired Lieutenant-General Abdulrahman Bello Dambazau, also addressed participants, alongside Blue Diamond Group Chairperson, Festus Mbisiogu, and CIG Motors Chairperson, Chief Diana Chen.
The business leaders shared perspectives on operating within the Nigeria-China commercial corridor, contributing to discussions on the financial arrangements needed to support stronger economic ties.
A key part of the engagement was an interactive listening session where participants outlined obstacles affecting transactions between the two countries and explored possible solutions.
Among the issues considered were the need for more efficient cross border payment systems, improved links between Nigerian and Chinese banks, and the potential advantages of establishing a stronger presence for Nigerian banks in China.
Participants also examined ways to facilitate international financial flows and improve access to investment opportunities in Nigeria.
The meeting featured a presentation on the country’s economic reform programme, progress in strengthening macroeconomic conditions and emerging opportunities within its financial markets.
In his closing remarks, Cardoso stressed the importance of turning feedback from businesses into a clearer understanding of the financial and institutional constraints that require attention.
The CBN said the findings from the engagement would inform further discussions with relevant financial institutions and regulatory authorities, with emphasis on practical areas of cooperation within the bank’s mandate.
The Beijing roundtable forms part of the apex bank’s broader efforts to expand Nigeria’s financial relationships across Asia.
Following engagements in Singapore and participation in the IMF and World Bank Annual Meetings in Bangkok, the CBN’s China programme 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 also scheduled to extend to Guangzhou, where the CBN plans to engage Nigerian business operators on financial challenges, remittance channels and ways to facilitate investment into the country.
The discussions are expected to help the apex bank identify practical measures to strengthen financial cooperation, support cross border business activities and improve the channels through which capital moves between Nigeria and China.
