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From Adanna Nnamani, Abuja
The Central Bank of Nigeria (CBN) and Banco Central do Brasil have agreed to deepen economic and financial cooperation following a high-level meeting between their chiefs in Brasília.
CBN Governor, Olayemi Cardoso, held talks with his Brazilian counterpart, Gabriel Muricca Galípolo, on the sidelines of President Bola Ahmed Tinubu’s state visit to Brazil.
The discussions, according to a statement from the apex bank at the weekend, focused on areas of mutual interest including monetary policy, financial stability and regulatory cooperation. CBN directors in charge of currency operations, financial policy regulation and monetary policy joined Cardoso during the deliberation.
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Cardoso said the engagement with his Brazilian counterpart underscored Nigeria’s resolve to “build a resilient financial system capable of attracting capital, harnessing diaspora remittances and creating a stable environment for trade and investment.”
He added that Brazil’s experience in financial inclusion offers valuable lessons, while Nigeria’s vibrant fintech sector also provides useful insights.
Cardoso further noted that Brazil’s large Afro-Brazilian community, the biggest population of people of African descent outside Africa, presents cultural linkages and potential to boost remittance flows.
On his part, Galípolo welcomed the talks, stressing that closer institutional collaboration would support financial stability and shared prosperity for both countries.
