By Joe Udo
ABUJA (CONVERSEER) – Nigeria’s Central Bank Governor, Olayemi Cardoso, has met with his Brazilian counterpart, Gabriel Muricca Galípolo, to strengthen economic and financial cooperation between the two countries.
The engagement took place during President Bola Ahmed Tinubu’s state visit to Brazil and was part of a broader working mission by the Central Bank of Nigeria (CBN) team to the Banco Central do Brasil.
In addition to the high-level talks between the two governors, the CBN delegation held a series of technical meetings with their Brazilian counterparts covering monetary policy, financial stability, and regulatory cooperation.
Focus on Payments, Fintech and Remittances
Cardoso underscored the importance of deepening institutional ties and knowledge-sharing between both central banks, noting particular opportunities in payments systems, fintech innovation, and mobile money adoption.
“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,” Cardoso said.
He added that Brazil’s experience in promoting financial inclusion could offer valuable lessons, while Nigeria’s fast-growing fintech sector also had insights to share.
Cardoso further pointed out that Brazil’s large Afro-Brazilian population — the biggest community of African descent outside Africa — presents cultural connections and significant potential to expand remittance flows between the two countries.
Brazil Welcomes Stronger Ties
Welcoming the engagement, Galípolo reaffirmed Brazil’s interest in broadening collaboration with Nigeria, describing closer cooperation as crucial to supporting financial stability and advancing shared prosperity.
Cardoso was accompanied by senior CBN directors overseeing currency operations, financial policy regulation, and monetary policy.
