CBN, Bank of Angola sign MoU to deepen cooperation

Barbara Bako, Abuja.

The Central Bank of Nigeria (CBN) and the Bank of Angola have entered into a Memorandum of Understanding (MoU) aimed at enhancing bilateral ties and promoting technical collaboration between the two financial regulators.

The agreement was formalized on Thursday, on the sidelines of the ongoing Annual Meetings of the International Monetary Fund (IMF) and World Bank in Washington, D.C.

The MoU, signed by the CBN Governor, Mr. Olayemi Cardoso, and his Angolan counterpart, Mr. Manuel Antonio Tiago Dias, is expected to promote knowledge sharing, improve regulatory coordination, and enhance institutional capacity in central banking operations.

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

He noted that the agreement underscored the growing consensus that collaboration was vital to addressing Africa’s shared economic and financial challenges.

“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 added that the partnership aligns with the CBN’s strategic goal of fostering regional financial stability, promoting cross-border integration, and building institutional resilience across the continent.

Earlier, Dr. Abdullahi explained that the MoU provides a structured framework for the exchange of technical expertise, supervisory information, and capacity development between the two central banks.

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He listed key areas of cooperation to include exchange control, management of financial markets and foreign reserves, currency management, economic research, monetary and financial statistics, payment systems, banking regulation, financial sector development, and cybersecurity.

Other focus areas, he said, are anti-money laundering and counter-financing of terrorism (AML/CFT) measures, as well as transparent information exchange on the licensing and supervision of cross-border financial institutions.

“The cooperation will strengthen our capacity to manage systemic risks and ensure stability in our financial sectors. It also provides a platform for shared learning and innovation in central banking operations,” Abdullahi noted.

On his part, the Governor of the Bank of Angola, Mr. Manuel Tiago Dias, described the agreement as a crucial step toward building stronger financial ties between both countries and deepening collaboration among African economies.

He observed that the two central banks share common goals of promoting macroeconomic stability, developing efficient payment systems, and safeguarding their financial systems from global vulnerabilities.