Cardoso has met with Gabriel Galípolo, president of the Central Bank of Brazil, as part of President Bola Tinubu’s state visit.
Gatekeepers News reports that according to a statement by CBN on Saturday, Cardoso said that Brazil’s large Afro-Brazilian community offers huge potential to increase remittance flows between Nigeria and Brazil.
The Nigerian delegation engaged Brazilian officials in discussions centered on monetary policy, financial stability, and regulatory cooperation.
Cardoso stressed the need for stronger institutional ties and knowledge-sharing between the two central banks, citing opportunities in payment systems, fintech, and mobile money.
He said, “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.”
“Brazil’s experience in financial inclusion offers important lessons, just as Nigeria’s fintech sector has insights of its own.”
In response, Galípolo welcomed the dialogue, noting that Brazil is eager to expand cooperation with Nigeria. He reaffirmed that closer ties would enhance financial stability and shared prosperity.
