CBN's Olayemi Cardoso Strengthens Banking Ties with China

The Central Bank of Nigeria (CBN), under the leadership of Governor Mr. Olayemi Cardoso, is actively pursuing stronger banking relationships and more efficient cross-border payment systems with China. This initiative was a key focus during a business and financial roundtable held in Beijing at the Pan Pacific Beijing, themed “Strengthening the Nigeria–China Financial Corridor.” The discussions involved Nigerian and Chinese business leaders addressing practical obstacles that hinder financial transactions between the two nations.

Cardoso emphasized the importance of direct feedback from businesses to identify challenges and improve financial market development. The roundtable also featured Deputy Governor for Economic Policy, Mr. Philip Ikeazor, and Nigeria’s Ambassador to China, Lt. Gen. Abdulrahman Bello Dambazau.

Participants discussed the need for improved payment arrangements, stronger links between financial institutions, and expanding the presence of Nigerian banks in China to facilitate better access to financial services and investment channels.