CBN Governor,Yemi Cardoso and the Governor of the Bank of Angola, Antonio Tiago Diaz signing the MoU
In a move aimed at enhancing collaboration and capacity building in central banking, the Central Bank of Nigeria (CBN) and the Bank of Angola on Thursday signed a Memorandum of Understanding (MoU) to promote bilateral cooperation.
The agreement was formalised in Washington D.C., on the sidelines of the IMF/World Bank Group Annual Meetings, signaling a new chapter in financial and institutional relations between the two African nations.
Present at the signing were CBN Governor Yemi Cardoso and his Angolan counterpart, Governor Manuel Antonio Tiago Diaz. The pact, which had been in development for some time, was described by Cardoso as timely and strategic.
“This has been long in the making, and I believe both the timing and the platform could not be more appropriate,” Cardoso said. “This gathering allows us to engage with diverse stakeholders, forge new relationships, and strengthen old ones. What we’ve achieved today is in the true spirit of these annual meetings.”
Cardoso emphasised that increased cooperation among African central banks was crucial to tackling shared challenges and promoting regional financial integration.
Earlier, CBN Deputy Governor, Economic Policy, Mohammed Abdullahi, welcomed guests and underscored the significance of the MoU, describing it as a milestone in advancing bilateral financial cooperation.
According to Abdullahi, the agreement provides a platform for technical collaboration, supervisory coordination, and information exchange between both central banks.
“The framework will cover areas such as exchange control, foreign reserves management, currency operations, financial market development, and economic research,” he said. “It will also support payment systems management, banking supervision, market conduct regulation, and cross-border resolution planning.”
He added that the pact includes staff training and experience-sharing initiatives, designed to build institutional knowledge and improve regulatory oversight in both countries.
The agreement is expected to pave the way for stronger engagement between Nigeria and Angola on key aspects of monetary policy, financial stability, and regulatory reform, reinforcing Africa’s collective capacity in central banking operations.
NAN
