The Chinese ambassador to Nigeria, Mr. Cui Jianchun, has said Nigerians should be expecting Chinese banks to start operating in the county soon. This is to boost trade and commerce between China and Nigeria. Jianchun said China seeks closer ties between the Chinese and Nigerian lawmakers. The envoy noted that Nigerian financial institutions are welcome in his country if they decide to come on board. The Ambassador said he was working to ensure the banks open in China and has been taking required steps. Jianchun while speakers to journalists in Abuja acknowledged that investments in both countries would enhance the chances of Currency Swap agreement and make it succeed.
He confirmed that the framework for the N750billion 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. I am working to have Chinese banks here in Nigeria and also for Nigerian banks to operate in China,” Jianchun said.