Nigeria’s FX stability, grey-list exit, reserve growth unlock Africa-Asia trade – Flutterwave CEO

Flutterwave, Africa’s leading payments technology company, participated in the high-level investor forum titled ‘Nigeria’s Economic and Investment Opportunities Sharing Session’, co-hosted by the Central Bank of Nigeria, CBN, and ICBC Standard Bank on October 22, 2026, in Beijing.

Flutterwave Founder and CEO Olugbenga “GB” Agboola joined a panel on foreign exchange predictability, local-currency settlement, and the role of financial technology in expanding bilateral trade. He highlighted how Nigeria’s removal from the FATF grey list, improved FX stability, and growing foreign reserves are rebuilding institutional confidence and opening opportunities for African businesses.

“A few years ago, if you were a Nigerian enterprise engaging the global financial system, the moment counterparties saw grey-list flags, currency volatility, and depleted reserves, conversations stalled before they began. Today, that reality has completely shifted,” Agboola said.

“Thanks to the intentional work led by Governor Cardoso and the CBN team to rebuild external reserve buffers, enforce compliance benchmarks to exit the grey list, and restore FX stability, African businesses can sit across the table with global institutions as credible partners. The ultimate currency in trade is trust. When macroeconomic policy is predictable, and infrastructure works dependably, capital and commerce accelerate in both directions.”

Themed ‘Deepening Cooperation for a Shared Future,’ the session brought together Chinese financial institutions, development finance organizations, investment funds, and multinational corporations operating across Nigeria and Asia. It followed the CBN’s strategic roundtables on the Nigeria–China financial corridor, forming part of a coordinated Asian bilateral outreach that included high-level dialogues in Singapore and Bangkok.

Underscoring the strategic foundation of this cross-border corridor, the Central Bank of Nigeria stated on X (formerly Twitter): “Beyond growing trade, stronger Nigeria–China economic ties also depend on the confidence, financial infrastructure and partnerships needed to support long-term investment.”

The panel was moderated by Peter Poon, Head of Structured Solutions at ICBC Standard Bank, and featured Dr. Okey Umeano, Acting Director of Financial Markets, Central Bank of Nigeria; Kayode Solola, Head of Global Markets for Africa Region, Standard Bank Group, and Chairman of Stanbic IBTC Capital, Nigeria; Samuel Tao, Senior Vice President of Investment, China-Africa Fund for Industrial Cooperation; and Chen Lu (Frank), Vice President of Solution Sales, Huawei Central Bank BU.

The Flutterwave CEO was accompanied by Mobolaji Bammeke, Chief Compliance Officer, reinforcing Flutterwave’s institutional focus on compliance frameworks, risk management, and governance across international payment rails, and Guo Songmei, who recently joined as Regional Vice President of Sales and Partnership for Greater China and Asia Region to lead regional commercial strategy, enterprise client acquisition, and merchant partnerships.

The bilateral engagement reinforces Flutterwave’s position as a licensed, regulated bridge connecting global liquidity to African commerce. With Flutterwave’s Asia-Africa transaction value nearing $1 billion in the first half of 2025 alone, the company continues to scale enterprise-grade payment rails, spanning multi-currency accounts, local payout networks, and compliant settlement solutions, making trade flow both ways between Asia and more than 30 African markets.