The meeting focused on the latest position on the implementation of the National Asset Management Agency and related banking sector issues affecting both jurisdictions.
It is the third time since September last year that the Northern Ireland Minister has met Mr Lenihan to discuss NAMA.
Speaking after a 'very constructive' meeting, Mr Wilson said the banking sectors in Northern Ireland and the Republic remained vitally important and would play a crucial part in economic recovery.
They discussed the implementation of NAMA and Mr Wilson sought clarification on a number of issues relating to the impact on participating banks with a Northern Irish presence, as well as local businesses that might be drawn into the process.
Mr Lenihan told Mr Wilson that a full register of Northern Ireland loans being transferred to NAMA would be available shortly and that there would not be a 'firesale' of Northern Ireland based assets.
Mr Wilson said it was absolutely crucial that banks and businesses in Northern Ireland had clarity on what the NAMA process meant for them.
He said he and his officials would continue to liaise with the Department of Finance to ensure that Northern Ireland was in not unfairly disadvantaged.
