Africa-China Banking Center Opens in Lagos

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A new banking institution has opened in the Nigerian capital of Lagos that will provide Africa’s financial sector with a direct link to China’s digital banking ecosystem.

The Africa-China Banking Center (ACBC) was officially launched by Stanbic IBTC Bank Plc on Tuesday in the Ilupeju area of Lagos.

Yinka Sanni, CEO of Stanbic IBTC Holdings, said that the centre would serve as a direct link between Nigeria and China for all financial services and deepen the bank’s connection with the Chinese business community, according to a report from the state-owned Xinhua News Agency.

ACBC will serve as a “virtual finance hub” with personnel that are proficient in Chinese, providing consultation and advisory services to both Nigerian and Chinese banking and investment clients via online, email and phone channels.

According to a Stanbic IBTC brochure the ACBC will also be connected to China’s digital banking system via Stanbic IBTC’s “Africa-China Banking value proposition.”

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