Cross-border payment arrangements, weak banking links and the absence of a larger Nigerian banking presence in China topped the concerns raised by business owners at a roundtable convened by the Central Bank of Nigeria (CBN) in Beijing on Wednesday, 21 October 2026.
The meeting, themed “Strengthening the Nigeria to China Financial Corridor,” was held at the Pan Pacific Beijing.
It brought together Nigerian and Chinese business leaders to explore ways of deepening Nigeria’s financial markets and to identify practical barriers to stronger financial flows between the two economies.
Businesses operating in both markets shared firsthand experiences on how financial connectivity, banking relationships and investment channels could be improved.
CBN Governor Olayemi Cardoso stressed the importance of engaging directly with businesses to understand the opportunities and constraints affecting financial activity between the two countries, particularly those that could shape efforts to build deeper and more accessible financial markets.
Philip Ikeazor, Deputy Governor for Economic Policy at the CBN, delivered the opening remarks.
He set out the objectives of the engagement and highlighted the need to turn stronger macroeconomic fundamentals into increased investment and more developed financial markets.
Nigeria’s Ambassador to the People’s Republic of China, Lt. Gen. Abdulrahman Bello Dambazau (rtd), also addressed participants. Other speakers included Festus Mbisiogu, Chairperson of Blue Diamond Group, and Chief Diana Chen, Chairperson of CIG Motors, who shared perspectives from businesses working across the corridor.
The main feature of the event was an interactive listening session where participants discussed opportunities for greater financial activity and the practical challenges of conducting transactions between the two countries.
Issues raised included the need for more efficient cross-border payment arrangements, stronger banking connectivity, and the possible benefits of a larger Nigerian banking presence in China.
These were weighed alongside wider opportunities to ease financial flows and improve access to financial services and investment opportunities in Nigeria.
The programme also included a presentation on Nigeria’s economic reform progress, improved macroeconomic fundamentals and emerging investment opportunities in the country’s financial markets.
In his closing reflections, Cardoso underscored the need to turn stakeholder engagement into a clearer understanding of the financial and institutional issues requiring attention.
The insights gathered are expected to guide the CBN’s continued engagement with relevant financial institutions and regulatory counterparts, with a focus on practical areas of cooperation within the Bank’s mandate.
The Beijing roundtable forms part of the CBN’s broader strategy to deepen Nigeria’s financial relationships across Asia. It follows engagements in Singapore and at the IMF/World Bank Annual Meetings in Bangkok.
The Bank’s China programme also includes bilateral discussions with the People’s Bank of China, engagement with ICBC leadership, and meetings with Nigerian and Chinese businesses.
It will extend to Guangzhou, where the CBN will hold a listening session with the Nigerian business community to better understand financial challenges and explore ways to strengthen remittance channels and facilitate investment in Nigeria.
