Nigeria's Central Bank and Angola's Banco Nacional de Angola have inked a memorandum of understanding to deepen technical know-how sharing, a move governors say will fortify both nations' financial systems amid Africa's push for homegrown resilience.

The deal, signed Wednesday by CBN Governor Olayemi Cardoso and his Angolan counterpart Manuel Tiago Diaz, sets up a bilateral forum for swapping expertise on everything from exchange controls and reserves management to payment systems and anti-money laundering.

Cardoso, speaking at the ceremony packed with top brass and guests, called it a "significant milestone" timed perfectly during the IMF and World Bank spring meetings. "This forum brings together stakeholders... creating opportunities to meet, collaborate, and build relationships," he said, framing the pact as a boon for tackling shared continental hurdles.

CBN Deputy Governor for Economic Policy, Mohammed Abdullahi, detailed the scope: Reciprocal training, cross-border supervision of banks, licensing frameworks and transparent info swaps on financial markets, currency ops, research, supervision and market conduct. "It’s a critical development in pursuing strengthened bilateral cooperation," Abdullahi noted, underscoring how the MoU could streamline ops and boost regional stability.

For Nigeria and Angola—Africa's oil giants grappling with forex squeezes and growth lags—the agreement signals pragmatic teamwork. Cardoso highlighted Africa's need for such alliances to navigate global shocks, while Diaz echoed the sentiment, praising the timing for fostering "mutual understanding."

As central banks worldwide tighten belts amid rate hikes, this low-key link-up could yield quiet wins: Sharper skills, fewer leaks and a buffer against volatility.