At a recent investor forum in Beijing, the Central Bank of Nigeria (CBN) highlighted key market infrastructure supporting financial flows between Nigeria and China. This follows the CBN’s efforts to strengthen ties with China, as reported by several Nigerian news outlets.
According to Premium Times Nigeria, the CBN discussed the use of the China-Africa Development Fund (CAD Fund) to boost investment in Nigeria. The CAD Fund was established in 2007 by the Chinese government, the African Union, and the United Nations Economic Commission for Africa (UNECA) to promote economic development and trade between China and Africa.
Financial Nigeria also reported that the CBN is seeking stronger financial links between the two nations. The Sun Nigeria and The Nation Newspaper corroborated this, with The Sun Nigeria adding that the CBN is aiming for easier payments between Nigeria and China.
These developments reflect the growing economic relationship between Nigeria and China, with both countries looking to increase bilateral trade and investment. It is important to note that while the CBN has not specified the exact infrastructure or measures to be implemented, these announcements underscore the commitment of both nations to deepen their economic cooperation.
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