CBN, Angolan Counterpart Ink Deal to Boost Regional Financial Stability

The Central Bank of Nigeria (CBN) and the Bank of Angola have signed a Memorandum of Understanding (MoU) to deepening cooperation and strengthening regional financial stability through knowledge exchange, capacity development, and regulatory coordination.

The agreement was signed on Thursday, October 16, 2025, by the CBN Governor, Mr. Olayemi Cardoso, and the Governor of the Bank of Angola, Mr. Manuel Antonio Tiago Dias, on the sidelines of the ongoing Annual Meetings of the International Monetary Fund (IMF) and the World Bank.

Speaking shortly after the signing ceremony — moderated by the CBN Deputy Governor (Economic Policy), Dr. Muhammad Sani Abdullahi — Cardoso described the pact as a “timely and significant milestone” in advancing regional cooperation among African central banks.

He said the MoU, which had been under discussion for some time, reflected the increasing recognition that collaboration was essential in addressing the continent’s shared financial and economic challenges.

“This forum brings together stakeholders from across the globe, and what we’ve done today highlights the spirit of cooperation that defines these annual meetings,” Cardoso stated.

According to the CBN Governor, the agreement aligns with Nigeria’s broader strategy to foster regional economic stability, support cross-border financial integration, and enhance institutional resilience across Africa.

“This partnership gives us the opportunity to strengthen regional understanding, share experiences, and build a more interconnected and robust financial system,” he added.

On his part, Dr. Abdullahi explained that the MoU provides a structured platform for both central banks to share technical expertise, supervisory information, and regulatory best practices.

He noted that the collaboration would cover key areas such as exchange control, financial market management, foreign reserves, economic research, and monetary and financial statistics. Other areas of focus include payment systems, financial sector development, banking supervision, cybersecurity, anti-money laundering and counter-financing of terrorism (AML/CFT), and staff training.

Dr. Abdullahi further emphasized that the MoU will promote transparency in the licensing, oversight, and resolution of cross-border financial institutions operating within the two countries, thereby mitigating systemic risks and ensuring stability in both economies.

“The cooperation will strengthen our capacity to manage financial vulnerabilities and create room for shared learning and innovation in central banking operations,” he said.

In his remarks, the Governor of the Bank of Angola, Mr. Manuel Tiago Dias, commended the CBN for its leadership in promoting regional cooperation, describing the MoU as “an important step toward stronger financial ties between Nigeria and Angola.”

He added that the partnership would contribute to macroeconomic stability, strengthen financial regulation, and help both countries adapt to global economic challenges.

“Our shared goal is to promote efficient payment systems, sustainable financial development, and resilient banking structures that can support long-term growth,” Dias said.

The signing of the MoU marks a growing trend of collaboration among African monetary authorities, as central banks across the continent seek to harmonize policies, integrate markets, and build resilience in the face of global financial headwinds.