Amanze Chinonye
The Central Bank of Nigeria (CBN) and the Bank of Angola have signed a Memorandum of Understanding (MoU) aimed at deepening bilateral cooperation and technical exchange between the two financial institutions.
The agreement, signed on Thursday, October 16, 2025, seeks to promote collaboration across key areas of financial sector development and regulation. The signing ceremony was moderated by the CBN Deputy Governor (Economic Policy), Dr. Mohammed Sani Abdullahi, and attended by senior Officials from both central banks.
According to details of the agreement, the MoU will cover a wide range of strategic areas, including financial sector development, banking supervision and regulation, cross-border supervision of financial institutions, due diligence, anti-money laundering and combating the financing of terrorism (AML/CFT), as well as market conduct supervision.
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The partnership will also facilitate capacity building through staff training, knowledge sharing, and exchange of experiences between both institutions.
Additionally, the MoU outlines collaboration in other critical areas such as exchange control, financial markets and foreign reserves management, currency management, economic research, monetary and financial statistics, and payment, clearing, and settlement systems management.
Officials from both countries described the initiative as a significant step toward strengthening regional financial stability and promoting best practices in central banking operations across Africa.
The agreement underscores ongoing efforts by the CBN to expand international cooperation and enhance the resilience of Nigeria’s financial system through knowledge exchange and institutional partnerships.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
