The Federal Government and the People’s Republic of China have agreed to partner on a crackdown on financial intelligence on anti-monetary laundering and countering the financing of terrorism.
A joint statement by the two countries on ‘Establishing a Comprehensive Strategic Partnership and Building a High-Level China-Nigeria Community with a Shared Community with a Shared Future’, released by the State House on Wednesday, said both countries would collaborate to encourage flexible and diverse regional and monetary and financial cooperation such as local currency swaps, to facilitate trade between China and Nigeria and make contributions to global financial stability.
At the invitation of the President of the People’s Republic of China, Xi Jinping, President Bola Tinubu was in China for a State Visit on Tuesday, and to attend the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC).
The statement said, “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.”
According to the release, both countries have also committed to support the World Trade Organization’s focused multilateral trading system, oppose trade protectionism, promote trade and investment liberalisation and facilitation, and create a transparent and non-discriminatory business environment for cooperation.
