csrreporters 
In a major step toward strengthening regional collaboration and promoting financial integration across Africa, the Central Bank of Nigeria (CBN) and the Bank of Angola have signed a Memorandum of Understanding (MoU) on financial and technical cooperation.
The agreement was formalised on the sidelines of the 2025 International Monetary Fund (IMF)/World Bank Annual Meetings in Washington, D.C., and is expected to enhance bilateral engagement in areas of monetary policy, financial regulation, and institutional capacity building.
Speaking at the signing ceremony, CBN Governor, Olayemi Cardoso, described the partnership as a timely and strategic development for both countries.
This has been long in the making, and I’m pleased that we’ve finally executed the agreement today. It couldn’t have come at a better time or place,” Cardoso said. “This is exactly what Africa needs—stronger cooperation among nations that face similar challenges. This agreement provides a platform to strengthen and, in some cases, build regional understanding and collaboration. It’s a significant milestone for both our institutions and our countries.
Providing further details, Deputy Governor, Economic Policy, CBN, Mohammed Abdullai, described the MoU as a critical framework designed to deepen collaboration between the two central banks across key areas of operation.
He explained that the objectives of the agreement include Establishing a bilateral forum for technical exchange and capacity building, Promoting cross-border supervision and collaboration on financial oversight, Enhancing cybersecurity information sharing, and
Developing frameworks for licensing, supervision, and resolution planning of cross-border financial institutions. This MoU will create a structured platform for reciprocal technical assistance and ensure transparency in the exchange of information between our two institutions.
He added that both central banks will collaborate in several technical domains, including foreign reserves management, financial market operations, economic research, statistics, and payment systems oversight. Other focus areas include financial sector development, anti money laundering and counter-terrorism financing (AML/CFT), staff training, and knowledge exchange. Abdullai expressed optimism that the partnership would deliver mutually beneficial outcomes, foster greater financial stability, and contribute to the broader goal of strengthening Africa’s financial ecosystem.
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