The Central Bank of Nigeria (CBN) and the Bank of Angola have signed a Memorandum of Understanding (MoU) aimed at enhancing collaboration in central banking operations, including exchange control, financial market management, currency operations, and reserve management.
The agreement was signed on the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and World Bank Group in Washington, D.C., and endorsed by CBN Governor Olayemi Cardoso and Bank of Angola Governor Manuel Antonio Tiago Dias.
The MoU also covers economic research, monetary and financial statistics, payment systems, financial sector development, banking regulation, cybersecurity, anti-money laundering and counter-financing of terrorism (AML/CFT), as well as staff training and technical collaboration.
According to the CBN, the partnership is designed to promote knowledge exchange, improve regulatory coordination, and strengthen institutional capacity in carrying out central banking functions across both countries.
Speaking at the signing, Governor Cardoso described the MoU as a “timely and significant milestone” for regional cooperation among African central banks. He noted that the partnership had been under development for some time and reflects a shared commitment to addressing Africa’s interconnected economic challenges.
“This agreement provides an opportunity to share experiences, build stronger regional understanding, and develop a more interconnected and resilient financial system,” Cardoso said, emphasizing its alignment with the CBN’s goals of promoting regional stability and cross-border financial integration.
CBN Deputy Governor in charge of Economic Policy, Dr. Muhammad Sani Abdullahi, added that the MoU establishes a structured framework for knowledge sharing, technical assistance, and cooperation in supervising financial institutions operating across both jurisdictions. He highlighted that transparency and effective information exchange will be central, especially in licensing, supervision, and resolution of cross-border financial entities.
“The cooperation will enhance our ability to manage systemic risks, ensure stability in our financial sectors, and foster innovation in central banking operations,” Dr. Abdullahi said.
Governor Manuel Tiago Dias of the Bank of Angola described the agreement as a key step toward stronger financial ties between Nigeria and Angola, and more broadly, among African countries. He noted the shared goals of promoting macroeconomic stability, efficient payment systems, and safeguarding financial systems against global vulnerabilities.
The collaboration is expected to deepen technical cooperation, promote financial inclusion, and strengthen Africa’s regional economic architecture.
