The Central Bank of Nigeria (CBN) and the Bank of Angola have signed a Memorandum of Understanding (MoU) for bilateral technical cooperation in an effort to strengthen their relationship and advance technical cooperation.
Dr Muhammad Sani Abdullahi, the CBN Deputy Governor (Economic Policy), moderated the signing ceremony, which took place on Thursday, and was attended by senior officials from both central banks.
Together with Mr Manuel Antonio Tiago Diaz, the governor of the Central Bank of Angola, CBN Governor Mr Olayemi Cardoso signed the Memorandum of Understanding on behalf of the Bank, stating that it is in line with Africa’s overarching objectives of financial stability and economic integration.
Areas of collaboration
The Memorandum of Understanding covers economic research, monetary and financial statistics, currency management, financial markets and foreign reserves, exchange control, and payment, clearing, and settlement systems management.
It also covers the development of the financial sector, banking supervision and regulation, cross-border financial institution supervision and due diligence when necessary, market conduct supervision, AML/CFT, staff training, and experience sharing.
CBN engages the IMF
In a similar development on Wednesday, Mr Abebe Aemro Selassie, Director of the IMF’s African Department, met with Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria, and Dr Doris Uzoka-Anite, Minister of State for Finance, who led Nigeria’s delegation to the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank.
The meeting’s main topics were Nigeria’s medium-term economic outlook, current reform agenda, and recent macroeconomic developments.
Among the other high-ranking officials present were Dr Muhammad Abdullahi, the CBN Deputy Governor (Economic Policy); Mrs Sanyade Okoli, the Special Advisor to the President on Finance and the Economy; Mrs Lydia Jafiya, the Permanent Secretary, Federal Ministry of Finance; and Mrs. Patience Oniha, the Director-General of the Debt Management Office.