Wednesday, Dec 1st 2021 1:18 PM

Market Digest Nigeria


Chinese banks coming to Nigeria according to Ambassador Jianchun

Plans are underway for Chinese banks to start operations in Nigeria,  said on Tuesday

Chinese banks

The envoy noted that Nigerian financial institutions are welcome in his country if they decide to come on board.

The Ambassador said he was working to ensure the banks open in China and has been taking required steps.

Jianchun told reporters in Abuja that investments in both countries would boost the chances of the Currency Swap agreement and make it succeed.

He confirmed that the framework for the N750billion initiative is being expanded by the Chinese and Nigerian central banks.

“The agreement is being implemented by the two central banks; the framework would be expanded.

“I believe it is already working. I am working to have Chinese banks here in Nigeria and also for Nigerian banks to operate in China,” he said.

Jianchun added that China seeks closer ties between the Chinese and Nigerian lawmakers.

The envoy announced that the 8th Ministerial Conference of the Forum on China-Africa Cooperation will be held in Senegal in November.

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