The Central Bank of Nigeria (CBN) and the Bank of Angola have entered into a new partnership aimed at strengthening regional financial cooperation and boosting institutional capacity between both nations.
The agreement, signed on the sidelines of the 2025 IMF and World Bank Annual Meetings in Washington D.C., focuses on areas such as monetary policy management, foreign exchange regulation, reserve administration, and cybersecurity.
CBN Governor Olayemi Cardoso and his Angolan counterpart, Manuel Antonio Tiago Dias, jointly endorsed the Memorandum of Understanding (MoU), which marks a new step in Africa’s drive toward deeper financial integration. The deal also includes collaboration in financial sector supervision, payment systems, economic research, anti-money laundering, and technical training for staff of both institutions.
Cardoso described the MoU as a “timely and significant milestone” for Africa’s central banking community. He emphasized that it demonstrates the continent’s readiness to address common economic challenges through mutual learning and coordinated regulation. “This forum brings together multiple stakeholders from across the globe, and what we’ve done today reflects the spirit of cooperation that defines these annual meetings,” he stated.
According to the CBN, the partnership will promote knowledge exchange, improve policy coordination, and enhance the ability of both banks to respond to emerging financial risks. Cardoso added that the agreement supports the CBN’s strategic goal of promoting regional stability and cross-border financial inclusion. “This agreement gives us the opportunity to strengthen regional understanding, share experiences, and build a more interconnected and robust financial system,” he noted.
CBN Deputy Governor for Economic Policy, Dr. Muhammad Sani Abdullahi, explained that the MoU provides a structured platform for reciprocal technical assistance and the exchange of supervisory information. He stressed that both countries would benefit from improved transparency and capacity development in monitoring cross-border financial institutions. “This cooperation will strengthen our ability to manage systemic risks and maintain financial stability,” Abdullahi said.
In his remarks, the Governor of the Bank of Angola, Mr. Dias, praised the initiative as a step forward in deepening financial relations across Africa. He noted that both countries share the vision of developing strong, stable, and resilient financial systems. “This partnership is not only between our two institutions but also a reflection of Africa’s commitment to stronger financial cooperation and sustainable economic growth,” he added.
