Their is ongoing plan for Chinese bank to Open Branches in Nigeria.
The development was disclosed by Chinese Ambassador to Nigeria, Cui Jianchin.
He said his country is working towards the establishment of Chinese-owned bank operations in Nigeria
Mr Jianchin made this known in Abuja while addressing journalists during the commemoration of the 2021 Chinese Moon Festival and China-Nigeria Cultural week on Tuesday
He said “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.
“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.”
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.”
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