The Central Bank of Nigeria (CBN) and the Bank of Angola have entered into a landmark Memorandum of Understanding (MoU) aimed at strengthening bilateral financial cooperation, boosting knowledge exchange, and enhancing capacity building between both institutions.
The agreement was signed on Thursday in Washington, D.C., United States, by CBN Governor Olayemi Cardoso and his Angolan counterpart, Manuel Antonio Tiago Dias, on the sidelines of the ongoing International Monetary Fund (IMF) and World Bank Annual Meetings in Lima, Peru.
According to officials from both countries, the pact marks a major milestone in regional financial collaboration, reflecting a shared vision for greater economic resilience and monetary stability across Africa.
Pact to Strengthen Financial Supervision and Regional Stability
Speaking at the signing ceremony, which was moderated by CBN Deputy Governor (Economic Policy), Mohammed Abdullahi, Cardoso described the MoU as a “timely and significant milestone” in advancing inter-African cooperation in central banking.
“The agreement provides us with an opportunity to build a more interconnected and resilient African financial system capable of withstanding external shocks,” Cardoso said in a statement released by the apex bank on Friday.
He noted that the partnership aligns with Nigeria’s broader strategy to promote regional stability, foster cross-border financial integration, and enhance institutional resilience within Africa’s monetary systems.
Abdullahi explained that the framework would enable both central banks to exchange technical expertise, regulatory insights, and supervisory best practices. He listed the key areas of cooperation to include foreign reserve management, monetary policy coordination, payment systems, cybersecurity, anti-money laundering, and counter-terrorism financing.
