Nigeria–Angola central bank pact targets stronger regulation, regional financial integration
Story: written by Uzuh Rita October 24,2025
The Central Bank of Nigeria (CBN) and the Bank of Angola have signed a Memorandum of Understanding designed to improve financial sector regulation, enhance payment systems, and strengthen economic cooperation between both nations. The agreement was concluded in Washington, D.C., on the sidelines of the 2025 International Monetary Fund and World Bank Annual Meetings, reflecting a broader continental push for economic stability and integration.
The MoU was executed by CBN Governor Olayemi Cardoso and his Angolan counterpart, Manuel Antonio Tiago Diaz. Both institutions described the agreement as an important step toward aligning regulatory frameworks and developing stronger supervisory capacity across borders. The partnership will involve information sharing on cybersecurity, licensing, financial market oversight, and resolution strategies for multinational financial institutions.
The collaboration also covers exchange control operations, reserve and currency management, economic research, and mechanisms to combat money laundering and the financing of terrorism. Regular, transparent communication is expected to support the delivery of these objectives.
Central banks across Africa continue to explore deeper cooperation intended to stabilize macroeconomic performance, expand intra-African trade, improve competitiveness, and attract investment. The new bilateral arrangement between Nigeria and Angola is expected to contribute to regional financial resilience by fortifying supervisory systems and mitigating emerging risks.
During the IMF and World Bank meetings, Nigeria’s economic management team held talks with international investors to present updates on macroeconomic reforms. Cardoso highlighted improvements in foreign exchange stability, reserve accumulation, and increasing foreign participation in fixed-income and equity markets. He stated that ongoing reforms are designed to reinforce fundamentals, drive investment, and restore confidence in the economy.
The Nigerian delegation emphasized a commitment to consistent policy direction and a sustainable growth agenda. Investors reacted positively to updates on institutional reforms, strengthening regulatory oversight, and the enhanced attractiveness of Nigeria as a long-term investment destination.
Speaking at the G-24 press briefing, Cardoso noted that Nigeria’s early implementation of policy reforms has increased resilience against global shocks. He pointed to a more competitive currency and emerging trade surpluses as evidence of significant structural transformation that favors domestic production over import dependence.
International institutions, particularly the IMF, have acknowledged Nigeria’s monetary tightening and foreign exchange reforms for helping reduce inflation and improve market confidence. The Fund has encouraged continued reforms to ease cost-of-living pressures and support projected growth of 3.9 percent in 2025 and 4.1 percent in 2026. Nigeria’s inflation declined to 18.02 percent in September 2025, the lowest level recorded in more than three years.
The IMF has also recognized tax reforms that increased non-oil revenue while streamlining the tax code. Further gains in revenue mobilization and spending efficiency are expected to reinforce social protection and economic stability.
The Nigeria–Angola cooperation agreement represents a microcosm of the continent’s aspirations for a unified, robust financial ecosystem. As implementation advances, both countries anticipate progress in regulatory effectiveness, investment promotion, and support for Africa’s long-term vision of a secure and integrated financial future.
