China-Nigeria Strengthen Financial Ties to Boost Bilateral Trade

China and Nigeria will enhance regional monetary and financial cooperation, including local currency swaps, to boost bilateral trade. They also agree to international cooperation on financial intelligence to combat money laundering and terrorist financing, and support Nigeria's efforts in stabilizing its financial and foreign exchange markets.

China and Nigeria will encourage flexible and diverse regional monetary and financial cooperation, including local currency swaps, as part of efforts to promote bilateral trade. This was revealed in a joint statement by Chinese official news agency Xinhua.

Beyond trade, the two countries will also engage in international cooperation on financial intelligence to fight money laundering and terrorist financing. This collaborative effort aims to bolster both nations' financial security.

Additionally, China will support Nigeria's ongoing efforts to maintain order in its financial and foreign exchange markets, underpinning long-term economic stability.

(With inputs from agencies.)