•Cardoso engages business leaders on cross-border payments, banking expansion and investment flows
MARGARETH CHIDERA
BEIJING, China — The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has engaged Nigerian and Chinese business leaders on measures to strengthen financial connectivity, ease cross-border transactions and expand investment opportunities between the two countries.
The discussions took place at a high-level business and financial roundtable organised by the CBN in Beijing, China, on Wednesday, October 21, 2026, under the theme, “Strengthening the Nigeria–China Financial Corridor.”
The meeting, held at the Pan Pacific Beijing, brought together business executives and financial stakeholders to identify practical obstacles to financial transactions between the two economies and explore ways to deepen banking relationships and investment flows.
Cardoso emphasised the importance of engaging directly with businesses to understand the opportunities and constraints affecting financial activities between Nigeria and China.
He said insights from the engagement would help the CBN better understand the challenges confronting businesses operating across both markets and identify areas where improved financial connectivity could support investment and economic activity.
The roundtable also provided an opportunity for stakeholders to discuss how Nigeria could develop deeper and more accessible financial markets while strengthening its financial relationships with China.
Philip Ikeazor, CBN Deputy Governor for Economic Policy, delivered the opening remarks, outlining the objectives of the engagement and the importance of translating improvements in Nigeria’s macroeconomic fundamentals into increased investment and more developed financial markets.
Nigeria’s Ambassador to China, retired Lieutenant-General Abdulrahman Bello Dambazau, also addressed participants.
Other speakers included Festus Mbisiogu, Chairperson of Blue Diamond Group, and Chief Diana Chen, Chairperson of CIG Motors, who shared perspectives from businesses operating along the Nigeria–China commercial corridor.
Cross-border payments, banking connectivity top agenda
A major feature of the engagement was an interactive listening session during which participants outlined opportunities for greater financial activity and highlighted practical difficulties associated with conducting transactions between the two countries.
Issues raised included the need for more efficient cross-border payment arrangements, stronger banking connectivity and the potential benefits of expanding the presence of Nigerian banks in China.
Participants also examined ways to facilitate financial flows, improve access to financial services and create more effective channels for investment between the two economies.
Stronger financial connections could help businesses operating in both countries navigate payment processes more efficiently and support commercial activities by improving access to banking services.
The discussions also highlighted the importance of understanding the institutional and regulatory challenges that affect financial transactions across borders.
For Nigerian businesses trading with Chinese partners, more accessible payment channels and stronger banking relationships could help address some of the financial difficulties associated with international trade and investment.
However, the discussions focused on identifying practical areas for further engagement rather than announcing specific agreements or immediate policy changes.
CBN highlights economic reforms, investment opportunities
The roundtable featured a presentation on Nigeria’s economic reform progress, improving macroeconomic fundamentals and emerging opportunities in the country’s financial markets.
The presentation was intended to provide Chinese and Nigerian business leaders with an overview of the country’s economic direction and investment prospects.
Cardoso, in his closing reflections, stressed the importance of translating stakeholder discussions into a clearer understanding of the financial and institutional issues requiring attention.
The CBN said the insights gathered would inform its continued engagement with relevant financial institutions and regulatory counterparts, with attention to practical areas of cooperation within the Bank’s mandate.
China engagement expands CBN’s Asian outreach
The Beijing roundtable forms part of the CBN’s broader efforts to strengthen Nigeria’s financial relationships across Asia and improve financial links with international partners.
According to the Bank, the China programme follows engagements in Singapore and at the International Monetary Fund and World Bank Annual Meetings in Bangkok.
The 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 CBN’s activities will extend to Guangzhou, where the Bank plans to hold a listening session with members of the Nigerian business community.
The session is expected to provide further insight into the financial challenges confronting Nigerians operating in China, while exploring opportunities to strengthen remittance channels and facilitate investment into Nigeria.
The wider initiative underscores the CBN’s focus on using international financial engagement to identify practical ways of improving cross-border payments, banking relationships and investment flows.
For Nigeria, strengthening financial ties with China could support trade and investment by making it easier for businesses to access banking services and move funds between the two markets. The extent of the benefits, however, will depend on the practical solutions developed through subsequent engagements with financial institutions and regulatory authorities.
