The Central Bank of Nigeria and the Bank of Angola have signed an MoU to enhance cooperation and technical exchange.
The deal aims to strengthen financial systems and promote regional economic stability in Africa.
The Central Bank of Nigeria (CBN) and the Bank of Angola have entered into a new partnership to strengthen cooperation and improve technical expertise in central banking. The two institutions formalized the deal through a Memorandum of Understanding (MoU) signed on Thursday, marking a new chapter in Nigeria–Angola financial relations.
The signing ceremony brought together top financial officials from both countries, including the Governor of the Bank of Angola, Mr. Manuel Tiago Diaz, and the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, who jointly signed the document.
In his remarks, Mr. Cardoso noted that the agreement had been in progress for some time and that its conclusion came at a fitting moment. He said the partnership would create a platform for greater collaboration between both nations and foster stronger regional ties among African central banks. According to him, “This forum brings together stakeholders from different countries, allowing us to meet, collaborate, and build lasting relationships. What we have done today reflects the true essence of international cooperation.”
The CBN governor further expressed optimism that the agreement would help African nations collectively address economic challenges while promoting regional growth and stability. “This marks a significant milestone for both organizations and our respective countries,” he added.
Earlier, the CBN Deputy Governor for Economic Policy, Mohammed Abdullai, described the MoU as an important step in strengthening bilateral collaboration. He explained that the deal would establish a framework for regular technical exchanges, cross-border supervision, and transparent sharing of information between the two banks.
Abdullai outlined key areas of cooperation, including financial market development, currency and reserve management, payment systems, banking regulation, and anti-money laundering initiatives. He added that staff training and knowledge sharing would also play a major role in enhancing the effectiveness of both institutions.
The agreement is expected to boost Africa’s collective financial resilience and promote long-term cooperation between Nigeria and Angola.
