Nigeria, Angola Central Banks Seal Financial Pact

Alithia Nantege, Africa One News |Economy

Monday, October 20, 2025 at 12:43:00 PM UTC

CBN

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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 and enhancing regional economic stability. The agreement was formalized on October 17, 2025, in Washington, D.C., during the International Monetary Fund and World Bank Annual Meetings. Leading the signing ceremony were CBN Governor Olayemi Cardoso and Bank of Angola Governor Manuel Antonio Tiago Dias, both of whom emphasized the strategic importance of the pact in fostering deeper institutional ties and promoting shared financial goals across Africa.

This MoU outlines a framework for collaboration in key areas such as technical assistance, cross-border financial supervision, regulatory harmonization, and capacity building. By committing to joint efforts in these domains, both central banks aim to improve the execution of their core functions, exchange best practices, and develop more robust mechanisms for financial oversight. Governor Cardoso described the agreement as a timely and significant milestone, highlighting its potential to address common economic challenges and reinforce financial resilience in the region.

The signing ceremony was attended by senior officials from both institutions and moderated by CBN Deputy Governor for Economic Policy, Dr. Mohammed Sani Abdullahi. The pact is expected to facilitate smoother coordination on monetary policy, banking sector reforms, and financial stability initiatives. It also reflects a growing recognition of the need for African central banks to collaborate more closely in shaping the continent’s financial future, especially in the face of global economic uncertainties and evolving regulatory demands.

For Nigeria, the agreement aligns with ongoing efforts to expand international cooperation and strengthen its financial system through strategic partnerships. For Angola, it presents an opportunity to enhance institutional capacity and align with regional best practices. As the MoU takes effect, both countries stand to benefit from improved regulatory efficiency, enhanced financial oversight, and a more integrated approach to economic development. This partnership not only reinforces bilateral ties but also contributes to the broader vision of sustainable financial progress across Africa.

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