Governor of Central Bank of Egypt Hosts Nigerian Counterpart and Conducts a Tour of the New Administrative Capital Printing House

Cairo, 29 JUL 2025:

In line with Egypt’s vision to strengthen ties with African nations across all sectors, H.E. Mr. Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), welcomed H.E. Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), and his accompanying delegation for strategic discussions at the CBE premises.

The meeting focused on expanding bilateral cooperation between the two central banks in key areas.

Following productive discussions, Mr. Abdalla escorted Mr. Cardoso on a tour of the New Administrative Capital’s Printing House.

The visit demonstrated the end-to-end stages of banknote production —from design to final delivery. The delegation gained valuable insights into the facility’s production capacity, advanced technologies, and robust anti-counterfeiting security measures.

The visit also showcased quality control protocols ensuring precision at every step, including thorough banknote testing at various production stages before issuance.

In addition to the tour, the visit featured a comprehensive exchange of technical expertise and knowledge between the CBE’s representatives and the delegation of the CBN.

The Egyptian side presented the CBE’s progress across a number of specialized fields, including Supervisory Regulations, Basel Frameworks, Monetary Policy, Macroprudential Policy, alongside the On-Site and Off-Site Supervision, as well as the Large Corporates, Banking Affairs, Information Technology, FinTech, Cybersecurity, and the Data Science and Advance Analytics Hub.

Moreover, the visit encompassed a strategic meeting with the Egyptian Banking Institute (EBI) —the CBE’s training arm— to explore its capacity-building programs for banking sector personnel, aligned with the international best practices.

On this occasion, H.E. Mr. Hassan Abdalla welcomed his Nigerian counterpart, affirming that Egypt prioritizes its relations with African nations and is committed to strengthening cooperation with them, while sharing its successful expertise across various fields.

Mr. Abdalla also congratulated Mr. Cardoso on the successful hosting of the African Export-Import Bank (Afreximbank) Meetings last month, expressing sincere appreciation for Nigeria’s generous hospitality and warm reception during the event.

From his side, H.E. Mr. Olayemi Cardoso emphasized the significance of the visit as an opportunity to deepen financial and economic cooperation between the two countries.

He also expressed his great admiration for the Banknote Printing House, commending the advanced technologies employed in production processes, along with the high-level security measures in place to safeguard printed banknotes.

He further noted that the CBN looks forward to leveraging Egypt’s expertise in the banking sector.

Notably, Mr. Abdalla conducted an official visit to the CBN at the end of last month on the sidelines of his participation in the 32nd Annual Meetings of Afreximbank, which were held under the theme “Building the Future on Decades of Resilience,” and attended by leaders and heads of African states.