The Central Bank of Nigeria (CBN) and the Bank of Angola have signed a landmark Memorandum of Understanding (MoU) aimed at strengthening bilateral relations and advancing technical cooperation in central banking operations.
The agreement, signed on Thursday, was endorsed by the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, and the Governor of the Bank of Angola, Mr. Manuel Tiago Diaz, in the presence of senior officials and dignitaries from both nations.
Speaking at the event, CBN Governor Cardoso described the MoU as a long-awaited milestone, perfectly timed to align with Africa’s evolving financial landscape.
“This forum brings together stakeholders from different countries with diverse interests, creating opportunities to collaborate and build sustainable relationships. What we have done today reflects the very spirit of international cooperation,” Cardoso stated.
He emphasized that the partnership would not only strengthen Nigeria-Angola ties but also foster regional economic integration and policy coordination across Africa.
“This marks a significant milestone for both institutions and our respective countries. Enhanced cooperation among African central banks will help address shared economic challenges and promote inclusive growth,” he added.
Welcoming participants, CBN Deputy Governor for Economic Policy, Dr. Mohammed Abdullai, described the agreement as a “critical step” toward fostering mutual development. He explained that the MoU establishes a bilateral framework for technical exchanges, cross-border supervision, capacity building, and transparent information sharing.
Abdullai outlined key areas of collaboration, including exchange control, financial market development, reserves management, currency operations, payment systems, banking regulation, anti-money laundering (AML/CFT), and market conduct supervision.
He also revealed that training and knowledge-sharing programs would form a vital part of the cooperation.
The partnership underscores a growing commitment by African nations to leverage institutional synergy and expertise in strengthening economic resilience and financial stability across the continent.
