CBN, Bank of Angola sign MoU to boost bilateral technical cooperation

By Emeka Anaeto, Business Editor, Babajide Komolafe, & Emma Ujah, 

The Central Bank of Nigeria, CBN, and the Bank of Angola, yesterday, signed a Memorandum of Understanding, MoU, aimed astatine fostering person bilateral relations and enhancing capableness successful cardinal banking operations.

The signing ceremony, attended by elder officials and distinguished guests, saw the Governor of the Bank of Angola, Mr. Manuel Tiago Diaz, and the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, formally endorsed the agreement.

Speaking astatine the ceremony, CBN Governor, Cardoso said that the MoU was agelong successful the making and described its timing and mounting arsenic ideal. 

“This forum brings unneurotic stakeholders from antithetic countries with divers interests, creating opportunities to meet, collaborate, and physique relationships. What we person done contiguous reflects the precise tone of the yearly and outpouring meetings,” helium said.

Cardoso further emphasised the value of the statement for Africa, stating that accrued practice among cardinal banks would assistance code shared challenges and fortify determination knowing and collaboration.

“I americium precise pleased, and I judge this marks a important milestone for some organizations and some countries,” helium added.

Welcoming the dignitaries, CBN Deputy Governor, Economic Policy, Mohammed Abdullai, described the MoU arsenic a “critical development” successful the pursuit of strengthened bilateral cooperation. He highlighted that the statement would found a bilateral forum for reciprocal method exchange, facilitate borderline supervision of authorized institutions, supply a model for licensing and cross-border solution planning, and guarantee transparent, periodic speech of information.

“The cardinal areas of practice volition see speech control, fiscal markets, overseas reserves management, currency management, probe and monitoring, outgo systems management, fiscal assemblage development, banking supervision and regulation, arsenic good arsenic AML/CFT and marketplace behaviour supervision,” Abdullai said. “Training of unit and sharing of experiences volition besides signifier portion of the collaboration.”

The station CBN, Bank of Angola motion MoU to boost bilateral method cooperation appeared archetypal connected Vanguard News.