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From Aidoghie Paulinus, Abuja
The Ambassador of the People’s Republic of China in Nigeria, Cui Jianchun, has said that Nigerian banks would soon commence operations in China.
Cui, while briefing journalists in Abuja, also said he is working hard to make the move a reality, revealing that efforts are ongoing on the part of China to ensure the setting up of Chinese financial institutions in Nigeria.
Speaking on the currency swap between Nigeria and China, Cui stated that the framework for the N750 billion initiative is being expanded by the Chinese and Nigerian central banks.
“The agreement is being implemented by the two Central Banks. The framework would be expanded. I believe it is already working and I am working to have Chinese banks here in Nigeria and also for Nigerian banks to operate in China,” Cui said.
While making known the need for closer ties between Chinese lawmakers and their Nigerian counterparts, Cui further said the eighth Ministerial Conference of the Forum on China-Africa Cooperation will be held in Senegal in late November. He added that since its establishment over 21 years ago, FOCAC has bolstered high-level interactions and political trust between China and Africa, delivering a leap in Sino-Africa relations.
“FOCAC has now turned itself into a pacesetter for cooperation with Africa and a fine example of mutually beneficial cooperation in the world,” he said.
