CBN, Bank of Angola Sign Landmark MoU to Boost Regional Financial Cooperation

The Central Bank of Nigeria (CBN) and the Bank of Angola have signed a landmark Memorandum of Understanding (MoU) aimed at strengthening bilateral financial cooperation, technical collaboration, and cross-border supervision between the two African nations.

The agreement was sealed on Thursday on the sidelines of the ongoing International Monetary Fund (IMF) and World Bank Annual Meetings in Lima, Peru. CBN Governor, Mr. Olayemi Cardoso, and his Angolan counterpart, Mr. Manuel Antonio Tiago Dias, signed the pact in the presence of senior officials from both institutions.

The MoU establishes a structured framework for knowledge exchange, regulatory collaboration, and institutional capacity building. It covers key areas such as monetary policy coordination, payment systems modernization, foreign reserve management, cybersecurity, and anti-money laundering.

Speaking at the ceremony, Cardoso described the partnership as a “timely and strategic milestone” in promoting inter-African cooperation within the financial sector. He noted that the agreement reflects Nigeria’s broader commitment to regional economic integration and financial stability.

“This collaboration underscores our shared vision to build a resilient and interconnected African financial system capable of withstanding external shocks,” Cardoso stated.

CBN Deputy Governor for Economic Policy, Mohammed Abdullahi, who moderated the session, emphasized that the pact would enhance transparency, improve oversight of cross-border institutions, and deepen regulatory cooperation.

On his part, Dias hailed the partnership as a major step toward harmonizing macroeconomic objectives between both nations. “Nigeria and Angola share common economic aspirations—stability, inclusion, and modernization. This agreement allows us to pursue these goals together,” he said.

The collaboration aligns with broader African initiatives under the African Continental Free Trade Area (AfCFTA), which seek to enhance intra-African trade, digital finance, and monetary cooperation.

Observers say the agreement also complements ongoing reforms under President Bola Tinubu’s administration, which has prioritized financial sector stabilization, institutional reforms, and regional partnerships.

With this MoU, Nigeria and Angola are expected to deepen cooperation in banking supervision, data sharing, and regional liquidity management advancing Africa-led solutions to Africa’s financial challenges.