CBN, Bank of Angola sign MoU to strengthen central banking cooperation

The Central Bank of Nigeria (CBN) and the Bank of Angola have signed a Memorandum of Understanding (MoU) to deepen bilateral technical cooperation and enhance regional financial integration.

The agreement was formalised on Thursday, October 16, 2025, in Washington, D.C., on the sidelines of the ongoing IMF–World Bank Annual Meetings. It was signed by CBN Governor Olayemi Cardoso and his Angolan counterpart, Mr. Manuel Antonio Tiago Dias.

The MoU aims to promote knowledge exchange, strengthen regulatory collaboration, and enhance institutional capacity in key areas of central banking.

Speaking during the signing ceremony, moderated by CBN Deputy Governor (Economic Policy), Dr. Muhammad Sani Abdullahi, Cardoso described the pact as a “timely and significant milestone” in fostering cooperation among African central banks.

He said the initiative aligns with the CBN’s broader goal of promoting regional financial stability and cross-border integration.
“This agreement gives us the opportunity to strengthen regional understanding, share experiences, and build a more interconnected and resilient financial system,” Cardoso stated.

Dr. Abdullahi explained that the MoU establishes a structured framework for technical assistance, capacity building, and the exchange of supervisory information between both institutions.

He identified key areas of cooperation to include monetary policy, financial market operations, exchange control, foreign reserves management, payment systems, financial regulation, cybersecurity, and anti-money laundering measures.

According to Abdullahi, the agreement would also facilitate collaboration in supervising cross-border financial institutions, enhancing transparency and stability across both financial systems.

Governor Dias of the Bank of Angola lauded the initiative as a crucial step toward strengthening economic ties between Nigeria and Angola, as well as deepening financial cooperation across Africa.

He noted that both central banks share common objectives of ensuring macroeconomic stability, advancing payment infrastructure, and safeguarding financial systems from global risks.