Nigeria and Brazil have agreed to deepen financial cooperation with a focus on fintech, remittances, and financial inclusion.
This is following high-level talks between Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, and his Brazilian counterpart, Gabriel Muricca Galípolo, in Brasília during President Bola Tinubu’s recent state visit.
A joint statement released at the weekend says both central banks will strengthen institutional ties across monetary policy, financial stability, and regulatory frameworks, while exploring opportunities in mobile money, payment systems, and digital innovation.
Cardoso underscored Nigeria’s push to build a resilient financial system that can attract capital, harness diaspora remittances, and create a stable environment for trade wand investment.
He pointed to Brazil’s track record in financial inclusion as a model Nigeria could learn from, while highlighting Nigeria’s fintech ecosystem as a source of innovation Brazil could also adopt.
“Brazil’s experience in financial inclusion offers important lessons, just as Nigeria’s fintech sector has insights of its own,” Cardoso noted.
“Our goal is to create a stable, resilient financial system that supportwws capital inflows, leverages remittances, and weenables trade and investment to thrive.”
He also emphasized the economic potential of Brazil’s Afro-Brazilian community, the largest African diaspora outside Africa as a cultural and financial bridge that could boost remittance flows.
Galípolo welcomed the collaboration, describing it as a pathway to financial stability and shared prosperity between both nations.
The CBN governor was accompanied by senior directors overseeing currency operations, financial policy regulation, and monetary policy, who held technical sessions with their Brazilian counterparts to map out areas of practical cooperation.
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