Nigeria, Egypt Strengthen Central Bank Ties to Boost Regional Economic Cooperation

OsemekemenJuly 30, 2025 2:09 pm

1 minute read

CBN and Egypt’s central bank deepen ties after high-level meeting on regional financial cooperation.

Talks explored payment systems, joint research, and stronger monetary frameworks for Africa’s growth.

The Central Bank of Nigeria (CBN) and the Central Bank of Egypt (CBE) have deepened bilateral engagement following a high-level strategic meeting held in Cairo on Monday, July 28, 2025.

According to a statement posted on the CBN official X (Twitter) account, Governor Olayemi Cardoso led the Nigerian delegation to Egypt, where CBE Governor Hassan Abdalla received him for a series of discussions aimed at strengthening regional financial cooperation and institutional collaboration.

The meeting provided both central banks with a platform to explore areas of mutual interest, with particular focus on supporting broader economic development goals across Africa.

“The visit provided an opportunity for both Central Banks to engage in constructive dialogue on regional financial cooperation and to deepen institutional collaboration,” the CBN stated.

Governor Cardoso was accompanied by key members of his leadership team, including Dr. Bala Bello, Deputy Governor (Operations), as well as two departmental directors and a special adviser to the governor.

The meeting comes amid increasing efforts by African central banks to build strategic partnerships, enhance cross-border financial systems, and align macroeconomic frameworks in response to shifting global economic conditions.

Analysts view this renewed cooperation as part of a broader push by African monetary authorities to improve currency stability, streamline regional payments systems, and strengthen collective responses to global financial shocks.

While no specific agreements were announced during the visit, sources close to both institutions say talks included the possibility of shared digital payment infrastructure, joint training initiatives, and collaborative research on monetary policy effectiveness.