2 weeks ago
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The Central Bank of Nigeria (CBN) and the Bank of Angola, connected Thursday, signed a Memorandum of Understanding (MoU) to foster person bilateral relations and heighten capableness successful cardinal banking operations.
The signing ceremonial took spot successful Washington, D.C, connected the sidelines of the ongoing Annual Meetings of the IMF/World Bank Group.
The News Agency of Nigeria (NAN) reports that the improvement marks a important measurement towards strengthening fiscal practice betwixt the 2 nations.
It was attended by the Governor of the Bank of Angola, Mr Manuel Antonio Tiago Diaz, and the Governor of the Central Bank of Nigeria, Yemi Cardoso.
Cardoso said that the MoU was agelong successful the making, adding that its timing and mounting were ideal.
According to him, the 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 of the World Bank Group,” helium said.
The CBN politician said that accrued practice among African cardinal banks would assistance code shared challenges and fortify determination knowing and collaboration.
Welcoming the dignitaries earlier, CBN Deputy Governor, Economic Policy, Mohammed Abdullai, described the MoU arsenic a captious improvement successful the pursuit of strengthened bilateral cooperation.
Abdullai said that the statement would found a bilateral forum for reciprocal method speech and facilitate borderline supervision of authorised institutions.
He said that it would besides supply a model for licensing and cross-border solution planning, and guarantee a transparent, periodic speech of information.
“The cardinal areas of practice volition see speech control, fiscal markets, overseas reserves management, currency management, and probe and monitoring.
“They besides see outgo systems management, fiscal assemblage development, banking supervision and regulation, arsenic good arsenic marketplace behaviour supervision,” helium said.
He said that unit grooming and sharing of experiences would besides signifier portion of the collaboration.
The station CBN signs MoU with Bank of Angola connected bilateral cooperation appeared archetypal connected Vanguard News.
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