Abuja — August 30, 2025
The Central Bank of Nigeria (CBN) has opened fresh bilateral engagements with the Central Bank of Brazil aimed at boosting collaboration in financial technology, cross-border remittances, and overall financial system stability.
CBN Governor, Olayemi Cardoso, held high-level discussions with his Brazilian counterpart, Gabriel Muricca Galípolo, on the sidelines of President Bola Ahmed Tinubu’s recent state visit to Brazil. The talks, described as a strategic step towards South-South financial cooperation, focused on enhancing innovation within the banking sector, improving diaspora remittance channels, and strengthening regulatory frameworks for sustainable growth.
Cardoso noted that Nigeria stands to benefit from Brazil’s experience in digital payments and fintech adoption, which has transformed financial inclusion in Latin America. He emphasized that closer ties between the two central banks would accelerate Nigeria’s digital financial ecosystem while ensuring stability in the face of global economic uncertainties.
On his part, Galípolo reaffirmed Brazil’s commitment to deepening cooperation with Nigeria, stressing that improved bilateral financial linkages would not only boost trade but also ensure more efficient remittance flows between both nations.
The move comes as Nigeria continues to push for wider adoption of technology-driven financial services, with the CBN maintaining that stronger international partnerships remain crucial in stabilizing exchange rates, securing remittances, and fostering economic growth.
