The Chinese government has said that it will work with Nigeria to combat the financing of terrorism and money laundering.
According to a joint statement from the two nations, the agreement was designed to help Nigeria in its efforts to combat financial crimes and maintain the stability of its foreign currency and financial markets.
The accord came about as a result of a Tuesday meeting between Chinese President Xi Jinping and President Bola Tinubu.
Following the meeting, the two presidents signed a number of memoranda of understanding (MoUs), one of which contained a plan for Nigeria and China to work together to advance the Belt and Road Initiative.
Promotion
The joint statement states that both nations are thinking about working together on financial and regional fronts as well as promoting adaptable and varied forms of collaboration such local currency swaps.
help promote international financial stability and ease trade between China and Nigeria.
In order to create Africa's flagship projects on cross-national and cross-regional cooperation, "both countries agreed to support Nigeria's geographical and development advantage in West Africa," the statement says.
Additionally, they decided to intensify their collaboration on improving the two nations' infrastructure connectivity.China actively assists Nigeria in building its internal infrastructure, such as ports, free trade zones, and transportation, in order to achieve integrated development and industry interconnection.In addition to supporting Nigeria's efforts to protect the order of its financial and foreign exchange markets and to crack down on financial crimes, including money laundering, the two nations agree to carry out international cooperation on financial intelligence on anti-monetary laundering/countering the financing of terrorism (AML/CFT).
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