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CBN, Bank of Angola sign agreement on technical cooperation
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Akpo Ojo
In an effort to enhance bilateral cooperation and technical exchange,
The Central Bank of Nigeria (CBN) and the Bank of Angola have signed a memorandum of understanding for bilateral technical cooperation in an effort to enhance bilateral cooperation and technical exchange between both countries.
The agreement, signed by the CBN Governor, Olayemi Cardoso, and his counterpart from the Central Bank of Angola, Mr. Manuel Antonio Tiago Diaz, is expected to promote knowledge exchange, improve regulatory coordination, and enhance capacity in the execution of central banking functions.
Speaking at the signing, moderated by the CBN Deputy Governor (Economic Policy), Dr. Mohammed Abdullahi, and attended by senior officials of both banks, Cardoso, described the agreement as a “timely and significant milestone” in fostering regional cooperation among African central banks.
He noted that the agreement had been in the works for some time and reflected the growing understanding that collaboration was essential to addressing Africa’s shared economic challenges.
“This forum brings together a multiplicity of stakeholders and interests from across the globe, and what we’ve done today highlights the spirit of cooperation that defines these annual meetings,” the CBN governor said.
Cardoso emphasised that the pact was in line with the CBN’s strategy to promote regional stability, support cross-border financial integration, and build institutional resilience across Africa.
“This agreement gives us the opportunity to strengthen regional understanding, share experiences, and build a more interconnected and robust financial system,” he added.
Earlier, the CBN Deputy Governor (Economic Policy), Dr. Muhammad Abdullahi, explained that the agreement provides a structured framework for both central banks to share knowledge, technical expertise, and supervisory information.
He said the objectives of the agreement include establishing a bilateral platform for reciprocal exchange of technical assistance, enhancing capacity development, and fostering collaboration in the supervision of financial institutions that operate across borders.
Abdullahi outlined several key areas of cooperation under the agreement, including exchange control, management of financial markets and foreign reserves, currency management, economic research, and monetary and financial statistics.
Others include payment systems, financial sector development, banking regulation, cybersecurity, anti-money laundering and counter-financing of terrorism, and staff training.
He also highlighted the agreement’s focus on ensuring a transparent and smooth exchange of information between the two central banks, particularly in the licensing, ongoing supervision, and resolution of cross-border financial establishments.
“The cooperation will strengthen our capacity to manage systemic risks and ensure stability in our financial sectors,” Abdullahi said.
“It also provides a platform for shared learning and innovation in central banking operations.”
Governor in of the Bank of Angola, Mr. Manuel Tiago Dias, described the agreement as an important step towards building stronger financial ties between the two countries, and by extension, among African nations.
He observed that both central banks share common objectives of promoting macroeconomic stability, developing efficient payment systems, and safeguarding their financial sectors against global vulnerabilities.
The Nigerian National Petroleum Company Limited, NNPCL, has slashed its fuel pump price for the second time within four days.
A market survey on Saturday by DAILY POST showed that NNPCL retail outlets around Airport Junction and Wuse Zone 6 (Berger) in Abuja have reduced their petrol price to N1210 per litre, down from N1260.
This means that the state-owned oil firm slashed the petrol price by N50 per litre.
This comes barely two days after Dangote Refinery reduced its petrol gantry price by N50 to N1,125 per litre.
Recall that four days ago, NNPCL had adjusted its fuel price pump by N75 per litre to N1260.
With the latest drop by NNPCL retail outlets, petrol prices stand between N1210 per litre and N1305 per litre in Abuja and its environs.
The reduction in domestic fuel comes amid falling crude oil prices, which stand at $69 per barrel and $71 per barrel for West Texas Intermediate and Brent crude, respectively, following the easing of the conflict in the Middle East.
Recall that President Bola Tinubu has kept mum amid the clamour by Nigerians for a commensurate drop in domestic fuel pump prices due to the significant reduction in crude oil prices.
The Independent National Electoral Commission, INEC, has said it is yet to receive the Certified True Copy, CTC, of the Federal High Court judgment that set aside an earlier order directing it to register the Nigeria Democratic Congress, NDC, as a political party.
INEC revealed this in a statement issued on Saturday by its Chief Press Secretary and Media Adviser to the Chairman, Adedayo Oketola.
According to the commission, although it is aware of media reports on the judgment delivered by the Federal High Court sitting in Lokoja on June 26, it cannot comment on the ruling until it obtains and reviews the certified copy.
The Independent National Electoral Commission, INEC, is aware of reports circulating in the media regarding the judgment delivered on Friday, June 26, 2026, by the Federal High Court sitting in Lokoja, which set aside an earlier order concerning the registration of the Nigeria Democratic Congress.
“However, as of this moment, the Commission has not yet received the Certified True Copy, CTC, of the court’s order,” the statement said.
INEC stated that its legal department would study the judgment upon receipt of the CTC before advising the commission on the next course of action.
“Once the Commission’s legal department receives and thoroughly studies the CTC of the judgment, INEC will take an informed, lawful decision in line with the court’s directives.
“Until then, we cannot comment on the specifics of the ruling, and the public is urged to await the Commission’s formal position on the matter,” Oketola added.
Justice Isah Dashen of the Federal High Court in Lokoja had on Friday set aside the court’s December 10, 2025, judgment directing INEC to register the NDC as a political party.
The court held that the rights of the Peace Movement Party were affected by the earlier judgment because it was not joined in the suit despite claiming ownership of the logo relied upon in securing the registration order.
Justice Dashen consequently ordered that all parties be restored to the positions they occupied before the December 2025 judgment and directed that the substantive suit be heard afresh with all necessary parties joined.
The NDC has rejected the ruling and announced plans to appeal the decision. Its National Chairman, Senator Moses Cleopas, maintained that the party had not been deregistered and argued that the trial court lacked jurisdiction to revisit a matter on which it had already delivered a final judgment.
The ruling has also attracted reactions from opposition figures, including the NDC’s presidential candidate, Peter Obi, the party’s National Leader, Senator Henry Dickson, and other stakeholders, who described the decision as a threat to Nigeria’s multiparty democracy and vowed to challenge it through all available legal channels.
INEC, however, maintained that it would reserve its position on the judgment until it receives and reviews the Certified True Copy.
A joint police operation rescued five victims abducted near Ogbere Forest in Ogun state on Wednesday.
They were rescued within 25 hours by the Lagos and Ogun Police Commands, which were part of a joint operation codenamed KOSAYE, meaning “No Space” in Yoruba.
The woman was among the victims who were shot in the incident. Her daughter and sister were among those rescued by the police on Thursday.
NNPC slashes petrol price twice within four days
Lokoja Court order: INEC speaks on NDC, says it’s yet to receive CTC
Just in: Police rescue five abductees in Ogun
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