The Chinese government are in talks with Nigerian government to commence banking operations in Nigeria and will hope this will facilitate trade relations between the two nations.
The Chinese Ambassador to Nigeria, Mr Cui Jianchin, while speaking during the commemoration of the 2021 Chinese Moon Festival and China-Nigeria Cultural Week, noted that the establishment of such a financial institution would boost Nigeria’s economy.
“Before my departure from Beijing to Abuja, I talked to several banks in China. When you list the world’s 10 big banks, six are in China. The banking sector is very important because, without money, we cannot build our industries,” Mr Jianchin explained.
“What I am thinking here is best to talk to the governor of the central bank, and how we can allow the Chinese banks to run office here and now, they are doing the feasibility studies on that.
This, the envoy said, would boost Nigeria’s economy and expand trade relations between the two nations.
Mr Jianchin disclosed this on Tuesday in Abuja while addressing journalists during the commemoration of the 2021 Chinese Moon Festival and China-Nigeria Cultural week.
He explained that establishing Chinese banks in the country would also be a point of discussion during the China-Nigeria Binational Committee meeting.
“I am working hard that in the binational meeting, I hope we can make a big decision and give a big push to let the banking industry and insurance industry because financial integration and institutions are key,” Mr Jianchin added. “If you go to China, you will find our banking industry is very powerful, not only for business but a change in the way of life.