Nigeria and Brazil have launched strategic discussions to deepen Nigeria- Brazil economic cooperation, with a strong emphasis on payment systems, fintech innovation, and mobile money expansion.
The talks took place in Brasília between Central Bank of Nigeria (CBN) Governor Olayemi Cardoso and his Brazilian counterpart, Gabriel Galípolo, during President Bola Tinubu’s official state visit to the South American nation.
A CBN press release issued Saturday confirmed the discussions were part of a broader working visit by the Nigerian central bank delegation to the Banco Central do Brasil.
In addition to high-level dialogue, the Nigerian team participated in a series of technical sessions with Brazilian officials on monetary policy frameworks, financial stability mechanisms, and regulatory coordination.
Governor Cardoso described the engagement as a pivotal step toward strengthening institutional collaboration and mutual knowledge exchange between the two central banks. “Nigeria is building a more resilient financial system to attract capital, harness diaspora remittances, and create a stable environment where trade and investment can thrive,” he stated.
He emphasized the value of shared expertise in digital finance, noting that “Brazil’s experience in financial inclusion offers important lessons, just as Nigeria’s dynamic fintech sector has insights of its own.” Cardoso also highlighted cultural and demographic ties, pointing to Brazil’s Afro-Brazilian population—the largest African-descendant community outside Africa—as a strategic bridge for enhancing remittance channels and financial integration.
“Strengthening institutional ties and knowledge-sharing between our central banks opens doors in payments systems, fintech, and mobile money,” the CBN statement added.
Galípolo welcomed Nigeria’s outreach and affirmed Brazil’s willingness to expand bilateral cooperation. He stressed that closer financial coordination would support economic resilience and promote shared prosperity for both nations.
“The talks mark a positive step forward,” Galípolo said, reiterating Brazil’s commitment to deepening collaboration for mutual financial stability and inclusive growth.
Cardoso was supported by senior CBN officials responsible for currency operations, financial regulation, and monetary policy, reflecting the comprehensive nature of the discussions.
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