CBN, Bank of Angola Sign Landmark MoU to Forge Stronger African Financial Integration
The Central Bank of Nigeria (CBN) and the Bank of Angola have formalized a significant partnership by signing a Memorandum of Understanding (MoU) to strengthen bilateral financial cooperation, enhance technical capacity, and bolster regional financial stability.
The agreement was signed on Thursday, October 16, 2025, in Washington D.C., on the sidelines of the IMF/World Bank Annual Meetings by CBN Governor Yemi Cardoso and Bank of Angola Governor Manuel Antonio Tiago Diaz. The venue and timing were highlighted by the CBN as ideal for fostering the spirit of global collaboration among central banks.
Key Pillars of the Technical and Institutional Framework
The MoU establishes a critical bilateral framework for reciprocal exchanges, signaling a unified approach to central banking practices across the two major African economies. The cooperation is set to cover a broad spectrum of central banking operations, making it a comprehensive tool for institutional development:
Technical Exchanges and Capacity Building: The core of the agreement is staff training, experience sharing, and technical exchanges to promote best practices and foster institutional capacity within both central banks.
Financial Oversight: It facilitates the cross-border supervision of authorized financial institutions, establishing a framework for licensing and resolution planning, which is vital for multinational banks operating in both countries.
Monetary and Economic Policy Areas: The MoU targets key areas of shared concern for improved coordination and transparency, including:
Exchange Control and Foreign Reserves Management.
Financial Markets and Currency Management.
Payment Systems Management and Financial Sector Development.
Research and Monitoring and Banking Supervision/Regulation.
CBN Deputy Governor for Economic Policy, Mohammed Abdullai, emphasized that this milestone is crucial for building stronger, more transparent, and more integrated banking systems across the continent, positioning intra-African financial cooperation as a foundation for sustainable economic growth and resilience.
SEO Headline: Crucial Detail Missing—The MoU Was Not Terminated
For your SEO-friendly request, it is essential to note that the core premise of termination is incorrect. The Central Bank of Nigeria and the Bank of Angola only recently signed this comprehensive Memorandum of Understanding in October 2025.
Therefore, there are no public details available regarding the termination of the agreement, as it represents the commencement of a new and strengthened bilateral relationship between the two nations’ central banks.
Context on Nigeria’s Financial Focus
The signing ceremony followed a related engagement where CBN Governor Cardoso met with Nigerian fintech leaders. In that session, themed “Shaping the Future of Fintech in Nigeria: Innovation, Inclusion, and Integrity,” the Governor urged the founders to prioritize strong governance and consumer protection to match their technological innovations. This aligns with the CBN’s broader commitment to balancing market-driven innovation with the integrity and trust of the financial system.
