The Central Bank of Nigeria (CBN) is seeking stronger banking links and more efficient cross-border payment arrangements with China to facilitate trade, investment, and financial flows between the two economies.

The CBN convened a high-level business and financial roundtable in Beijing, where Nigerian and Chinese business leaders identified practical challenges affecting financial transactions and explored ways to improve access to banking and investment services across both markets.

The meeting, held at the Pan Pacific Beijing, under the theme: “Strengthening the Nigeria–China Financial Corridor,” brought together financial and business stakeholders to examine how stronger financial connectivity could support commercial activities between the two countries.

CBN Governor, Olayemi Cardoso, said direct engagement with businesses was important to understand the opportunities and constraints affecting financial transactions between Nigeria and China, particularly as the Bank seeks to deepen the country’s financial markets.

Discussions focused on the need for more efficient cross-border payment systems, stronger banking relationships, and the potential benefits of expanding Nigerian banks’ presence in China.

Participants also examined broader opportunities to facilitate financial flows and improve access to financial services and investment opportunities in Nigeria.

Deputy Governor for Economic Policy at the CBN, Philip Ikeazor, 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 deeper financial markets.

Nigeria’s Ambassador to China, Lt. Gen. Abdulrahman Bello Dambazau (rtd), also addressed the gathering.

Other speakers included the Chairperson of Blue Diamond Group, Festus Mbisiogu, and the Chairperson of CIG Motors, Chief Diana Chen, who provided perspectives on the experiences of businesses operating across the Nigeria–China corridor.

An interactive listening session formed a central part of the meeting, allowing participants to share firsthand accounts of the difficulties encountered in conducting transactions between the two countries and suggest areas for improvement.

The roundtable also featured a presentation on Nigeria’s economic reforms, improved macroeconomic fundamentals and emerging investment opportunities in its financial markets.

Cardoso, in his closing reflections, stressed the importance of using the feedback from businesses to identify financial and institutional issues requiring further attention.

The CBN said the insights gathered would inform its continued engagement with relevant financial institutions and regulatory counterparts, focusing on practical areas of cooperation within the Bank’s mandate.

The Beijing meeting formed part of the CBN’s broader efforts to strengthen Nigeria’s financial relationships across Asia.

Following engagements in Singapore and at the IMF/World Bank yearly meetings in Bangkok, the Bank’s China programme includes bilateral discussions with the People’s Bank of China, engagement with the leadership of the Industrial and Commercial Bank of China (ICBC), and further meetings with Nigerian and Chinese businesses.