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Nigeria, Benin plan central banks personnel exchange

 

The Federal Ministry of Finance, in collaboration with the Ministry of Foreign Affairs, has concluded a high-level bilateral meeting with the Republic of Benin where the Beninise side proposed personnel exchanges between the respective Central Banks in trade collaboration.

The ministry’s Head of Press and Public Relations Unit, Helen Chukwu, disclosed this in a statement available to The PUNCH.

Some of the key issues in the proposal were the strategies for strengthening the Customs Union between the two countries, establishing a relationship of trust through collaboration, joint training, and deepening the legal framework applicable to facilitate debt recovery.

Bilateral formal trade relations between Nigeria and the Republic of Benin have increased significantly in the last 10 years. There has also been an increase in the smuggling of contraband goods due to the porous borders

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, led Nigeria’s delegation to Benin Republic for a high-level meeting on boosting bilateral trade relations on Monday.

The meeting aimed to strengthen diplomatic ties and enhance economic cooperation between the two neighbouring nations.

The high-level meeting marks a significant step toward deepening economic ties and fostering mutual prosperity between Nigeria and the Republic of Benin.

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