The governor of the Central Bank of Nigeria, Olayemi Cardoso, has held conversations with his Brazilian counterpart, Gabriel Muricca Galifolo, to strengthen economic and financial cooperation between the two countries.
The commitment, which took place during the state visit of President Bola Ahmed Tinubu to Brazil, was part of a broader work visit of the Central Bank of Nigeria (CBN) to the Central Bank of Brazil.
In addition to the high -level discussions of the governor, the delegation also celebrated a series of technical meetings with its Brazilian counterparts, which cover monetary policy, financial stability and regulatory cooperation.
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Cardoso highlighted the importance of deepening institutional ties and the exchange of knowledge between the central banks of Nigeria and Brazil, pointing out opportunities in payment systems, Fintech and mobile money.
“Nigeria is building a more resistant financial system to attract capital, take advantage of diaspora remittances and create a stable environment where trade and investment can prosper,” he said.
“Brazil’s experience in financial inclusion offers important lessons, as well as Nigeria’s Fintech sector has its own ideas,” Cardoso added.
He also pointed out that the great Afro-Brazila community in Brazil, the largest population of African descent out of Africa, provides not only cultural ties but also a significant potential to expand remittance flows between the two countries.
Galipolo welcomed the conversations and reiterated Brazil’s interest in expanding collaboration, describing the closest ties as beneficial to support financial stability and shared prosperity.
Cardoso was accompanied by CBN directors who supervises monetary operations, the regulation of financial policy and monetary policy.
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