CBN, Bank of Angola Sign MoU on Strengthening Bilateral Financial Cooperation

CBN, Bank of Angola Sign MoU on Strengthening Bilateral Financial Cooperation

The Central Bank of Nigeria (CBN) and the Bank of Angola have formalized a new era of regional collaboration with the signing of a Memorandum of Understanding (MoU) on bilateral technical cooperation. The signing took place on the sidelines of the ongoing Annual Meetings of the International Monetary Fund (IMF) and World Bank in Washington, D.C.

The landmark agreement was signed by CBN Governor, Mr. Olayemi Cardoso, and his Angolan counterpart, Mr. Manuel Antonio Tiago Diaz. The pact is designed to promote knowledge exchange, enhance regulatory coordination, and strengthen institutional capacity in the execution of core central banking functions across both nations.

Moderated by the CBN Deputy Governor (Economic Policy), Dr. Muhammad Sani Abdullahi, the event was attended by senior officials of both central banks. In his remarks, Mr. Cardoso described the MoU as a “timely and significant milestone” in fostering regional cooperation among African central banks.

> “This forum brings together a multiplicity of stakeholders and interests from across the globe, and what we’ve done today highlights the spirit of cooperation that defines these annual meetings,” Cardoso said.

He emphasized that the partnership aligns with the CBN’s broader strategy to promote regional stability, support cross-border financial integration, and strengthen institutional resilience across the African continent.

> “This agreement gives us the opportunity to strengthen regional understanding, share experiences, and build a more interconnected and robust financial system,” he added.

Dr. Abdullahi noted that the MoU establishes a structured framework for mutual collaboration in key areas such as exchange control, financial markets and reserves management, currency management, economic research, and monetary statistics. Other areas of cooperation include payment systems, financial sector development, banking regulation, cybersecurity, anti-money laundering and counter-financing of terrorism (AML/CFT), as well as staff training and development.

He further explained that the agreement provides for transparent and efficient information sharing between both institutions, particularly in the licensing, supervision, and resolution of cross-border financial institutions — a move aimed at mitigating systemic risks and promoting financial stability.

In his response, the Governor of the Bank of Angola, Mr. Manuel Tiago Diaz, commended the CBN for its leadership role in deepening financial cooperation across Africa. He described the agreement as “an important step toward building stronger financial ties between the two countries and, by extension, among African nations.”

Both parties reaffirmed their commitment to strengthening macroeconomic stability, enhancing payment system efficiency, and fortifying the continent’s financial architecture against global vulnerabilities.

The new partnership marks a significant milestone in advancing regional economic cooperation under the spirit of Africa-led financial integration.