Chinese banks to operate in Nigeria soon, envoy discloses -GCFRNG

Chinese banks to operate in Nigeria soon, envoy discloses -GCFRNG

Cui Jianchun has asked Nigerians to start looking forward to Chinese banks in the country.

According to the Chinese ambassador to Nigeria, Nigerian banks should also be expected to receive the same reception in China.

Closer collaboration between Chinese legislators and their Nigerian counterparts

The Chinese ambassador to Nigeria, Mr. Cui Jianchun, has said that Nigerians should wait for Chinese banks to start operating in the country.

He also said that Nigerian banks should also be expected to receive the same reception in China, noting that this is one of the main requirements for the Nigerian-China foreign exchange agreement to work.

The Chinese envoy, who said he was working hard to ensure that Nigerian banks start operating in China, revealed that he was taking the necessary steps that would lead to the establishment of Chinese financial institutions in Nigeria.

Responding to journalists’ questions about the success of the currency swap between the two countries at a press conference in Abuja on Tuesday, Jianchun explained that the central banks of China and Nigeria were expanding the framework for the N750 billion initiative.

The envoy said: “The agreement is being implemented by the two central banks; the framework would be expanded. I think it is already working and I am working to have Chinese banks here in Nigeria and also for Nigerian banks to operate in China.

Jianchun, who said that the Chinese government wished to have closer collaboration between Chinese lawmakers and their Nigerian counterparts, said that the eighth Ministerial Conference of the China-Africa Cooperation Forum will be held in Senegal in late November.

He said that since its establishment more than 21 years ago, FOCAC has strengthened high-level interactions and political trust between China and Africa, making a leap in China-Africa relations.

Jianchun said, “FOCAC has now become a benchmark in cooperation with Africa and a good example of mutually beneficial cooperation in the world.

Africa and China have stepped up mutual support on issues that engage each other’s core interests and primary concerns, work together for greater democracy in international relations, remain committed to multilateralism, and align global governance reforms with the common interests of developing countries “.

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Chinese banks to operate in Nigeria soon, envoy discloses -GCFRNG

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