Nigeria and Brazil have begun talks to deepen economic and financial cooperation, with a strong focus on payment systems, fintech, and mobile money expansion.
The discussions took place in Brasília between the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, and his Brazilian counterpart, Gabriel Galípolo, during President Bola Tinubu’s state visit to Brazil.
According to a CBN statement on Saturday, the talks were part of a wider working visit by the Nigerian delegation to the Banco Central do Brasil. Alongside the high-level engagement, the delegation held technical meetings with Brazilian officials on monetary policy, financial stability, and regulatory collaboration.
Cardoso described the talks as a chance to enhance institutional ties and share expertise between both central banks. He highlighted Nigeria’s efforts to build a resilient financial system capable of attracting investment, boosting remittances, and supporting trade.
He noted Brazil’s global reputation in financial inclusion, stressing that Nigeria’s thriving fintech sector also had insights to offer. Pointing to Brazil’s Afro-Brazilian community—the largest population of African descent outside Africa—he said stronger financial linkages could expand remittance flows and deepen cultural and economic ties.
Galípolo welcomed the initiative, pledging Brazil’s readiness to broaden cooperation. He described closer ties as vital to supporting financial stability and advancing shared prosperity.
Cardoso was accompanied by senior CBN officials overseeing currency operations, regulation, and monetary policy, underlining the scope of the engagement.