Investment in naira-denominated instruments offers scope to expand financial cooperation between Nigeria and China, Olayemi Cardoso, the Central Bank of Nigeria Governor, has said.
Cardoso placed broader participation in Nigeria’s financial markets on the agenda during discussions with the chairman and senior management of the Industrial and Commercial Bank of China (ICBC), linking investment opportunities to the country’s gains in stability and financial-system confidence.
He said the next phase was to build on those foundations, deepening financial markets and strengthening investment flows between the two economies to support sustainable growth.
“Our ambition is not simply to make financial transactions between Nigeria and China easier. It is to create the conditions for more transactions, greater investment and stronger financial flows in both directions,” he said.
Cardoso identified greater participation by Chinese financial institutions in Nigerian markets as a practical opportunity to broaden the relationship.
“We believe there is considerable scope to broaden this relationship, particularly by encouraging greater participation by Chinese financial institutions in Nigeria’s markets, including investment in naira-denominated instruments,” he said.
The Governor outlined a role for ICBC in connecting its institutional networks with Nigerian investment opportunities. Its corporate relationships and international reach could help identify barriers to participation and translate commercial interest into financial activity.
Nigeria and China already have substantial commercial ties. Cardoso said CBN data showed significant trade-related payments from Nigeria to China, alongside comparatively limited export proceeds and investment flows into Nigeria.
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Broader financial-market participation would add an investment dimension to a relationship heavily shaped by trade payments.
The CBN Governor also set out the apex bank’s responsibility as maintaining a credible, transparent and well-functioning financial environment, while working with counterparts to address regulatory and institutional barriers where appropriate.
He proposed practical priorities and designated teams to carry the discussions forward. The measure of success, he said, would be greater transaction volumes, broader market participation and a more balanced financial relationship.
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