Deepening Nigeria-China Ties, CBN Moves To Boost Payments, Investment

BY BUKOLA ARO-LAMBO, Lagos
Trade between Nigeria and China reached $18 billion in the first half of 2026, underscoring the growing economic ties between the two countries and the need for stronger financial arrangements to support cross-border transactions, investment and the movement of funds.
With bilateral trade spanning machinery, telecommunications equipment, construction materials, crude oil, natural gas and agricultural commodities, efficient payment systems and stronger banking relationships have become increasingly important to businesses operating across both markets.
Against this backdrop, the Central Bank of Nigeria (CBN) is stepping up efforts to strengthen the financi...