The Chinese government says it will partner with Nigeria in the fight against money laundering and terrorism financing.
A joint statement issued by both countries said the
agreement aimed at supporting Nigeria’s efforts to safeguard the stability of
its financial and foreign exchange markets and crack down on financial crimes.
The agreement followed a meeting between President Bola
Tinubu and President Xi Jinping of China on Tuesday.
At the end of the meeting, both presidents signed various
memoranda of understanding (MoUs), which included a cooperation plan between
Nigeria and China to jointly promote the belt and road initiative.
According to the joint statement, both countries are considering
regional and monetary cooperation, as well as encouraging flexible and diverse
cooperation such as local currency swaps to facilitate trade between China and
Nigeria and contribute to global financial stability.
“Both countries agreed to support Nigeria’s geographical and
development advantage in West Africa to establish Africa’s flagship projects on
cross-national and cross-regional cooperation,” the statement reads.
“They also agreed to deepen cooperation on the
infrastructure connectivity between the two countries.
“China proactively supports Nigeria in developing its
domestic infrastructure construction, including transportation, ports, and free
trade zones, towards achieving integrated development and connectivity for
industries.
“The two countries agree to carry out international
cooperation on financial intelligence on anti-monetary laundering/countering
the financing of terrorism (AML/CFT) and support Nigeria’s efforts to safeguard
the order of its financial and foreign exchange markets and to crack down on
financial crimes, including money laundering.”
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