Nigeria is seeking stronger financial ties with Asian markets to attract long-term investment and expand cross-border participation, as the Central Bank of Nigeria (CBN) steps up efforts to strengthen international financial cooperation.
CBN Governor Olayemi Cardoso made this known at the Nigeria-Asia Financial Connectivity Dialogue in Singapore, ahead of the annual meetings of the International Monetary Fund (IMF) and the World Bank in Bangkok, Thailand.
The dialogue was convened by the CBN in collaboration with JPMorgan, Nigerian Exchange Group (NGX Group) and FMDQ Group, according to a statement issued on Thursday.
Cardoso said Nigeria was looking to deepen its financial relationships with Asian markets, with a focus on attracting long-term capital and creating opportunities for greater participation across international financial markets.
The initiative is aimed at strengthening financial connectivity between Nigeria and Asia, as the country seeks to widen its investment base and improve access to international capital.
The meeting also brought together key players in the financial sector to explore opportunities for closer cooperation and innovation in financial markets.
Nigeria has been seeking to attract foreign investment to support economic growth, strengthen its financial system and expand opportunities for businesses.
Stronger financial links with Asian economies could provide additional channels for investment and improve engagement between Nigerian financial institutions and international market participants.
The dialogue comes ahead of the IMF and World Bank annual meetings in Bangkok, where global economic conditions, financial stability and development financing are expected to feature prominently.
However, the extent to which the discussions will translate into new investment commitments or concrete financial agreements remains unclear.
