The Central Bank of Nigeria (CBN) has opened discussions with Nigerian and Chinese businesses to address payment difficulties, strengthen banking connections and improve financial transactions between the two countries.
The initiative is expected to identify challenges affecting cross-border payments while exploring ways to improve access to financial services, remittances and investment opportunities.
The apex bank disclosed this in a statement on Thursday following a high-level business and financial roundtable held in Beijing, China, on Wednesday, October 21, 2026.
According to the CBN, participants highlighted the need for more efficient international payment systems, stronger links between banks and the possible expansion of Nigerian banks’ operations in China.
The meeting, held at the Pan Pacific Beijing, brought together business leaders and financial stakeholders from both countries to discuss difficulties encountered when conducting transactions and investments across the two markets.
CBN Governor Olayemi Cardoso said direct engagement with businesses was important in understanding the challenges affecting financial activities between Nigeria and China.
He explained that feedback from participants would help the bank identify opportunities to develop more accessible financial markets and improve cooperation between the two economies.
The CBN’s Deputy Governor for Economic Policy, Philip Ikeazor, delivered the opening remarks, emphasising the need to turn improvements in Nigeria’s macroeconomic conditions into increased investment and stronger financial markets.
Nigeria’s Ambassador to China, retired Lieutenant General Abdulrahman Dambazau, also addressed the gathering.
Other participants included Blue Diamond Group Chairperson Festus Mbisiogu and CIG Motors Chairperson Diana Chen, who shared their experiences and perspectives on business operations between the two countries.
The statement noted that an interactive session allowed participants to outline transaction-related challenges and suggest ways to improve financial connectivity.
Discussions also focused on the potential benefits of a stronger Nigerian banking presence in China, particularly for businesses that regularly transfer funds between the two countries.
Participants were also briefed on Nigeria’s economic reforms, changes in its macroeconomic conditions and investment opportunities within the financial sector.
During his closing remarks, Cardoso said feedback from businesses would help identify financial and institutional challenges that require further attention.
The CBN stated that the information gathered during the meeting would guide its continued discussions with financial institutions and regulatory authorities to identify practical areas for cooperation within its mandate.
The Beijing engagement forms part of the apex bank’s wider efforts to strengthen Nigeria’s financial relationships across Asia, following previous engagements in Singapore and during the IMF and World Bank Annual Meetings in Bangkok.
Improved payment arrangements could help businesses operating between Nigeria and China conduct transactions more efficiently, although the practical impact will depend on the measures developed following the discussions.
