CBN signs MoU with Bank of Angola on bilateral cooperation

CBN and Bank of Angola Embrace Strategic Alliance Through Bilateral MoU

In a landmark move aimed at deepening regional financial collaboration, the Central Bank of Nigeria (CBN) and the Bank of Angola have signed a Memorandum of Understanding (MoU) to strengthen bilateral cooperation and enhance capacity in central banking operations.

The agreement was formalized on October 17, 2025, during the Annual Meetings of the International Monetary Fund (IMF) and World Bank Group in Washington D.C., a setting that underscored the global significance of the accord.

The signing ceremony was attended by the Governor of the Central Bank of Nigeria, Mr. Yemi Cardoso, and his Angolan counterpart, Mr. Manuel Antonio Tiago Diaz. Both leaders emphasized the timeliness and strategic importance of the MoU, highlighting its alignment with the broader goals of fostering economic integration and financial stability across the African continent. Mr. Cardoso noted that the agreement was “long in the making” and praised the IMF/World Bank forum for providing a conducive environment for such multilateral engagements.

The MoU establishes a structured framework for reciprocal technical cooperation between the two central banks. It is designed to facilitate knowledge exchange, capacity building, and joint initiatives in key areas of central banking. 

These include exchange control, financial markets development, foreign reserves and currency management, research and economic monitoring, payment systems oversight, and banking supervision and regulation.

The agreement also encompasses market conduct supervision and cross-border resolution planning, ensuring that both institutions can respond more effectively to shared financial challenges.

CBN Deputy Governor for Economic Policy, Mohammed Abdullai, who welcomed dignitaries at the event, described the MoU as a critical milestone in the pursuit of enhanced bilateral relations. He emphasized that the agreement would not only bolster institutional capabilities but also promote transparency through regular information sharing and collaborative training programs.

This development signals a broader trend of increased cooperation among African central banks, as nations seek to harmonize regulatory frameworks, improve financial sector resilience, and foster inclusive economic growth.

By leveraging each other’s strengths and experiences, Nigeria and Angola aim to build a more robust financial architecture that supports regional trade, investment, and monetary policy coordination.

The MoU between the CBN and the Bank of Angola is expected to serve as a model for similar partnerships across the continent, reinforcing the vision of a more integrated and self-reliant African financial ecosystem.

As global economic uncertainties persist, such alliances are seen as vital to ensuring that African economies can navigate challenges collectively and capitalize on shared opportunities.