The Central Bank of Nigeria has commenced discussions with Nigerian and Chinese businesses to address cross-border payment difficulties, strengthen banking connections and improve financial transactions between the two countries.

The initiative is aimed at identifying obstacles affecting business transactions and exploring ways to improve access to financial services, investment opportunities and remittance channels.

The apex bank disclosed this 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 cross-border payment arrangements, stronger banking connectivity and the potential benefits of expanding the presence of Nigerian banks in China.

The meeting, held at the Pan Pacific Beijing, brought together business leaders and financial stakeholders from both countries to discuss practical challenges affecting transactions and investment flows.

CBN Governor Olayemi Cardoso emphasised the importance of engaging directly with businesses to understand the constraints limiting financial activities between Nigeria and China.

He explained that feedback from the discussions would help the apex bank identify opportunities to develop deeper and more accessible financial markets.

The Deputy Governor for Economic Policy, Philip Ikeazor, delivered the opening remarks, stressing the need to translate improvements in Nigeria’s macroeconomic conditions into increased investment and stronger financial markets.

Nigeria’s Ambassador to China, Lieutenant General Abdulrahman Dambazau (retd.), also addressed participants at the meeting.

Other speakers included Blue Diamond Group Chairperson Festus Mbisiogu and CIG Motors Chairperson Diana Chen, who shared experiences from businesses operating between the two countries.

The CBN said an interactive session formed a major part of the engagement, allowing participants to outline transaction difficulties and suggest ways to improve financial connectivity.

Discussions also examined the possibility of expanding Nigerian banks’ operations in China to provide better support for businesses conducting transactions between the two markets.

Participants received updates on Nigeria’s economic reforms, improving macroeconomic conditions and emerging investment opportunities in the country’s financial sector.

In his closing remarks, Cardoso said feedback from businesses would help identify financial and institutional challenges requiring attention.

The CBN stated that the insights gathered would guide further engagements with relevant financial institutions and regulatory counterparts, with a focus on practical areas of cooperation within its mandate.

The Beijing meeting forms part of the bank’s broader strategy to strengthen Nigeria’s financial relationships across Asia. It follows earlier engagements in Singapore and during the International Monetary Fund and World Bank annual meetings in Bangkok.

The CBN’s programme in China also includes bilateral discussions with the People’s Bank of China, meetings with the leadership of the Industrial and Commercial Bank of China, and further consultations with Nigerian and Chinese businesses.

The programme is expected to continue in Guangzhou, where the bank plans to hold another session with Nigerian business operators.

The upcoming engagement will focus on understanding the financial difficulties facing Nigerian businesses, strengthening remittance channels and identifying opportunities to facilitate investment into Nigeria.

The initiative comes amid efforts to deepen trade and investment ties between Nigeria and China by making financial transactions more accessible and efficient for businesses operating in both countries.