The Central Bank of Nigeria (CBN) and the Bank of Angola have signed a Memorandum of Understanding (MoU) aimed at enhancing technical cooperation, capacity building, and knowledge exchange in central banking operations — a move expected to bolster financial diplomacy and economic collaboration across Africa.
The agreement was formalised on Thursday in Washington D.C., on the sidelines of the ongoing IMF/World Bank Annual Meetings, and was signed by CBN Governor, Mr. Olayemi Cardoso, and Governor of the Bank of Angola, Mr. Manuel Antonio Tiago Diaz, in the presence of senior officials from both institutions.
Speaking at the signing ceremony, Cardoso described the partnership as a timely and strategic initiative that embodies the spirit of global collaboration fostered at the IMF/World Bank meetings.
“This forum brings together stakeholders from different countries with diverse interests, creating opportunities to meet, collaborate, and build relationships. What we have done today reflects the very spirit of these meetings,” Cardoso said.
He added that the MoU represents a major milestone for both countries and aligns with Africa’s broader goals of economic integration, financial stability, and institutional strengthening.
CBN Deputy Governor, Economic Policy, Dr. Mohammed Abdullai, who welcomed participants, said the pact provides a structured framework for cooperation in various technical and supervisory areas, including financial markets, currency management, foreign reserves, payment systems, and banking supervision.
According to him, “The key areas of collaboration will include exchange control, financial sector development, AML/CFT and market conduct supervision, as well as training and experience sharing between both central banks.”
The agreement, stakeholders noted, underscores a growing commitment among African financial institutions to deepen regional partnerships, enhance regulatory standards, and build institutional capacity for sustainable economic growth.
