The Central Bank of Nigeria (CBN) and the Bank of Angola have entered into a Memorandum of Understanding (MoU) to deepen collaboration in central banking operations and regional financial integration.
The agreement, signed during the Annual Meetings of the International Monetary Fund (IMF) and World Bank Group in Washington, D.C., was endorsed by CBN Governor Olayemi Cardoso and his Angolan counterpart, Manuel Tiago Dias.
The MoU focuses on areas including exchange control, currency operations, reserve management, economic research, cybersecurity, anti-money laundering, financial regulation, and staff training. It aims to enhance institutional capacity and improve coordination in the execution of monetary and financial policies across both nations.
Cardoso described the agreement as a “timely and significant milestone” that reinforces regional cooperation among African central banks. “This partnership gives us the opportunity to strengthen regional understanding, share experiences, and build a more interconnected and robust financial system,” he said.
CBN Deputy Governor for Economic Policy, Dr. Muhammad Sani Abdullahi, stated that the pact provides a structured framework for reciprocal technical assistance, capacity building, and supervisory collaboration. He noted that it prioritises transparency and information sharing, particularly in managing cross-border financial institutions.
Abdullahi added that the initiative would help both nations manage systemic risks, ensure financial stability, and promote innovation in central banking.
Bank of Angola Governor Manuel Dias described the partnership as a “significant step” toward enhancing financial cooperation and achieving sustainable economic growth across Africa. “Our collaboration reflects Africa’s commitment to stronger financial ties and resilient economic systems,” he said.
The MoU is expected to advance regional financial inclusion, improve payment systems, and strengthen Africa’s economic architecture through shared expertise and strategic cooperation.
