Chinese Banks Set To Establish Operations In Nigeria

The Chinese Ambassador to Nigeria, Cui Jianchin, has disclosed that his nation is working in the direction of the institution of Chinese-owned financial institution operations in Nigeria.

Mr Jianchin this recognized in Abuja whereas addressing journalists throughout the commemoration of the 2021 Chinese Moon Festival and China-Nigeria Cultural week on Tuesday.

Chinese Banks Set To Establish Operations In Nigeria 2

Jianchin who mentioned he was in talks with Chinese-owned banks, famous that among the many world’s 10 largest banks, six had been in China.

“Before my departure from Beijing to Abuja, I talked to a number of banks in China. When you listing the world’s 10 massive banks, six are in China. The banking sector is essential as a result of, with out cash, we can’t construct our industries.

“What I’m considering right here is finest to speak to the governor of the central financial institution, and the way we are able to permit the Chinese banks to run workplace right here and now, they’re doing the feasibility research on that.”

He explained that it would boost Nigeria’s economy and expand trade relations between the two nations.

Establishing Chinese banks in the country would also be a point of discussion during the China-Nigeria Bi-national Committee meeting, Jianchin said.

“I am working hard that in the bi-national 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.

“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 commerce relations, the Chinese ambassador famous that the commerce quantity between China and Nigeria was almost $20 billion, rising from 2020’s $19.2 billion.

Mr Jianchin affirmed that the 2021 celebration is particular because it coincides with the fiftieth anniversary of China-Nigeria’s bilateral relations and that the international locations share October 1 nationwide day.

According to News Agency of Nigeria, he disclosed that the Chinese embassy would honour 50 Nigerian staff of Chinese firms in Nigeria for his or her excellent efficiency and contribution to strengthening diplomatic ties.

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Chinese Banks Set To Establish Operations In Nigeria

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