The Central Bank of Nigeria (CBN) has stepped up efforts to strengthen Nigeria’s financial and investment links with Asia, with Governor Olayemi Cardoso holding high-level engagements in Singapore on financial markets, innovation and cross-border connectivity.
Cardoso’s engagements, held en route to the IMF-World Bank Annual Meetings in Bangkok, included discussions with the Monetary Authority of Singapore (MAS), the signing of a Memorandum of Understanding (MoU) with the Global Finance & Technology Network (GFTN), and a Nigeria-Asia Financial Connectivity Dialogue.
The activities were aimed at translating Nigeria’s financial sector reforms into stronger international partnerships, deeper markets and improved channels for investment, trade and financial innovation.
During the meeting with MAS, the CBN delegation discussed financial-sector development, regulation, market connectivity and innovation, while exploring areas of mutual interest and possible institutional cooperation between Nigeria and Singapore.
The CBN and GFTN subsequently signed an MoU to establish a framework for cooperation on financial innovation. The agreement is expected to facilitate collaboration among relevant institutions and innovation ecosystems in both countries and help identify practical opportunities for cooperation in financial technology and related areas.
