Nigeria and Angola have taken a major step toward deepening financial and economic collaboration with the signing of a memorandum of understanding (MOU) for bilateral technical cooperation between their central banks. The agreement, signed in Washington, D.C., by Central Bank of Nigeria (CBN) Governor Olayemi Michael Cardoso and National Bank of Angola Governor Manuel Tiago Dias, aims to enhance technical exchange and institutional capacity between the two nations.

According to reports by Muplnag Dakok, the MOU establishes a framework for reciprocal knowledge sharing and technical assistance, focusing on improving the execution of core central banking functions. It also provides for cooperation in cross-border supervision of licensed financial institutions, cybersecurity information exchange, and the joint development of supervision and resolution strategies for cross-border financial establishments.

The partnership is expected to bolster regulatory coordination and promote financial stability across both economies. By enhancing institutional capacity and fostering mutual collaboration, Nigeria and Angola are positioning themselves to better navigate global economic challenges and strengthen financial sector resilience within the African region.

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