The Central Bank of Nigeria (CBN) has engaged Nigerian and Chinese businesses to address cross-border payment challenges, strengthen banking connections, and improve financial transactions between the two countries.
The discussions took place at a high-level business and financial roundtable in Beijing, China, on Wednesday, October 21, 2026, bringing together business leaders and financial stakeholders to examine barriers to trade, investment, and financial flows.
CBN Governor Olayemi Cardoso said direct engagement with businesses would help the apex bank identify obstacles to financial transactions and improve access to financial services and investment opportunities.
Participants highlighted the need for more efficient cross-border payment systems, stronger banking connectivity and a larger presence of Nigerian banks in China.
Deputy Governor for Economic Policy, Philip Ikeazor, in his opening remarks, stressed the importance of translating Nigeria’s improving macroeconomic conditions into increased investment and stronger financial markets.
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Nigeria’s Ambassador to China, Lt. Gen. Abdulrahman Dambazau (retd.), also addressed the meeting, alongside business leaders including Blue Diamond Group Chairperson Festus Mbisiogu and CIG Motors Chairperson Diana Chen.
The CBN said an interactive session allowed businesses to outline transaction difficulties and propose solutions to improve financial connectivity between both countries.
Participants also explored how a stronger presence of Nigerian banks in China could support companies operating across the two markets.
Cardoso said the feedback would guide the bank’s engagement with relevant financial institutions and regulatory counterparts to identify practical areas for cooperation.
The Beijing meeting forms part of the CBN’s broader efforts to strengthen Nigeria’s financial relationships across Asia, following previous engagements in Singapore and at the IMF and World Bank Annual Meetings in Bangkok.
The bank’s China programme also includes discussions with the People’s Bank of China, the leadership of the Industrial and Commercial Bank of China, and Nigerian and Chinese businesses.
The programme is expected to continue in Guangzhou, where the CBN plans another engagement with Nigerian business operators to identify financial challenges, strengthen remittance channels and explore ways to facilitate investment in Nigeria.
