CBN, Bank of Angola sign MoU to boost bilateral cooperation, financial stability

Abdullateef Fowewe

The Central Bank of Nigeria (CBN) and the Bank of Angola formalised a new partnership on Thursday, October 16, 2025, signing a Memorandum of Understanding (MoU) to strengthen bilateral technical cooperation.

The signing ceremony as revealed in a statement obtained from the CBN on Friday was led by CBN Deputy Governor (Economic Policy), Dr Mohammed Sani Abdullahi, alongside senior officials from both institutions.

CBN Governor Olayemi Cardoso highlighted the significance of the agreement, stating, “The MoU aligns with broader continental goals of economic integration and financial stability.”

This partnership aims to enhance collaborative efforts across multiple financial sectors.

Key focus areas of the MoU include Exchange Control, Financial Markets and Foreign Reserves, Currency Management, Economic Research, Monetary and Financial Statistics, as well as Payment, Clearing, and Settlement Systems Management.

Additionally, the agreement covers Financial Sector Development, Banking Supervision and Regulation, cross-border supervision and due diligence of financial institutions, Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT), Market Conduct Supervision, and Staff Training with experience exchange.

This collaboration marks a step forward in strengthening economic ties and ensuring financial stability between Nigeria, Angola, and the broader African region.