Top Chinese Banks Set to Begin Operations in Nigeria

The Chinese Ambassador to Nigeria, Cui Jianchin, says he is in talks with Chinese-owned banks to establish operations in Nigeria.

Jianchin disclosed this on Tuesday in Abuja while addressing journalists during the commemoration of the 2021 Chinese Moon Festival and China-Nigeria Cultural week.


“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.

Your Friends Also Read:  Paris Club Grants Kenya’s Debt Service Suspension Request

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.

Extolling the extant China-Nigeria trade relations, the Chinese ambassador noted that the trade volume between China and Nigeria was nearly $20 billion, increasing from 2020’s $19.2 billion.

Your Friends Also Read:  Business Edge | Buhari Approves Reopening of Four Land Borders

According to Mr Jianchin, the 2021 celebration is special as it coincides with the 50th anniversary of China-Nigeria’s bilateral relations and that the countries share October 1 national day.

He disclosed that the Chinese embassy would honour 50 Nigerian employees of Chinese companies in Nigeria for their outstanding performance and contribution to strengthening diplomatic ties.

Leave your vote


All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.

Contact: digital@newscentral.ng

Total
4
Shares
Previous Article

Five Nigerian Banks Paid ₦1.4bn Forex Infraction Fines in H1 2021

Next Article
Six Percent of Togolese Companies Generate 88% Of Business Turnover (News Central TV)

Six Percent of Togolese Companies Generate 88% Of Business Turnover

Related Posts

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.