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Chinese Banks Set To Establish Operations In Nigeria

The Chinese Ambassador to Nigeria, Cui Jianchin, has disclosed that his country is working towards the establishment of Chinese-owned bank operations in Nigeria.

Mr Jianchin this known in Abuja while addressing journalists during the commemoration of the 2021 Chinese Moon Festival and China-Nigeria Cultural week on Tuesday.

Jianchin who said he was in talks with Chinese-owned banks, noted that among the world’s 10 biggest banks, six were in China.

“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.

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