In a move expected to strengthen financial diplomacy across Africa, the Central Bank of Nigeria (CBN) and the Bank of Angola on Thursday, signed a Memorandum of Understanding (MoU) to promote technical cooperation and capacity building in central banking operations.
The agreement, formalised in the presence of top officials and delegates from both institutions, was signed by Governor of the CBN, Mr. Olayemi Cardoso and Governor of the Bank of Angola, Mr. Manuel Antonio Tiago Diaz.
Speaking at the MoU signing ceremony on the sidelines at the ongoing IMF/World Bank meeting in Washington DC, Cardoso noted that the MoU was long in the making and described its timing and setting as ideal.
“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 the annual and spring meetings,” he said.
He added that the partnership marks a milestone for both institutions and aligns with broader continental goals of economic integration and financial stability.
“I am very pleased, and I believe this marks a significant milestone for both organizations and both countries,” Cardoso said.
Welcoming guests to the event, CBN Deputy Governor, Economic Policy, Mohammed Abdullai, described the pact as a critical step in advancing bilateral cooperation between both countries.
He noted that the MoU would provide a structured framework for collaboration in several technical and supervisory areas, including financial markets, currency and reserves management, payment systems, and banking supervision.
He said: “The key areas of cooperation will include exchange control, financial markets, foreign reserves management, currency management, research and monitoring, payment systems management, financial sector development, banking supervision and regulation, as well as AML/CFT and market conduct supervision, training of staff and sharing of experiences will also form part of the collaboration.”
Eromosele Abiodun and Nume Ekeghe
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