The Central Bank of Nigeria (CBN) has begun engaging Nigerian and Chinese businesses to address cross-border payment challenges, strengthen banking ties and improve financial flows between the two countries.
The initiative seeks to identify obstacles affecting business transactions between Nigeria and China and explore ways to improve access to financial services, expand investment opportunities and strengthen remittance channels.
The CBN disclosed this in a statement on Thursday following a high-level business and financial roundtable held in Beijing, China, on Wednesday, October 21, 2026.
The apex bank said discussions focused on improving cross-border payment arrangements, strengthening banking connectivity and examining the potential benefits of expanding the presence of Nigerian banks in China.
“Issues raised included the need for more efficient cross-border payment arrangements, stronger banking connectivity, and the potential benefits of a larger Nigerian banking presence in China,” the statement said.
Held at the Pan Pacific Beijing, the meeting brought together business leaders and financial stakeholders from both countries to discuss challenges affecting transactions, investment flows and financial cooperation.
CBN Governor Olayemi Cardoso emphasised the importance of engaging directly with businesses to understand the constraints affecting financial activities between Nigeria and China.
He said feedback from businesses would help the apex bank identify opportunities to deepen financial markets and make financial services more accessible to companies operating across both economies.
The Deputy Governor for Economic Policy, Philip Ikeazor, delivered the opening remarks, highlighting the need to translate improvements in Nigeria’s macroeconomic fundamentals into increased investment and stronger financial markets.
Nigeria’s Ambassador to China, Lt. Gen. Abdulrahman Dambazau (retd.), also addressed participants at the meeting.
Other speakers included Blue Diamond Group Chairperson Festus Mbisiogu and CIG Motors Chairperson Chief Diana Chen, who shared perspectives on the experiences of businesses operating between the two countries.
According to the CBN, an interactive listening session was a key component of the engagement, giving participants an opportunity to outline transaction difficulties and suggest ways to improve financial connectivity.
Discussions also examined how a stronger presence of Nigerian banks in China could support businesses conducting transactions between the two countries.
Participants were briefed on Nigeria’s economic reforms, improving macroeconomic conditions and emerging investment opportunities in the country’s financial markets.
In his closing remarks, Cardoso underscored the importance of using feedback from businesses to identify financial and institutional challenges requiring attention.
“The insights gathered are expected to inform the CBN’s continued engagement with relevant financial institutions and regulatory counterparts, focusing on practical areas for cooperation within the Bank’s mandate,” the apex bank said.
The Beijing meeting forms part of the CBN’s broader strategy to strengthen Nigeria’s financial relationships across Asia, following earlier engagements in Singapore and during the IMF and World Bank Annual Meetings in Bangkok.
The bank said its China programme also includes bilateral discussions with the People’s Bank of China, engagements with the leadership of the Industrial and Commercial Bank of China, and meetings with Nigerian and Chinese businesses.
The programme is expected to continue in Guangzhou, where the CBN plans to hold another listening session with members of the Nigerian business community.
According to the bank, the Guangzhou meeting will focus on identifying financial challenges facing Nigerian businesses, strengthening remittance channels and exploring opportunities to facilitate investment in Nigeria.
