Nigeria has secured a permanent seat on the Board of the African Central Bank following key decisions reached at the just-concluded 39th Session of the Executive Council of the African Union (AU), marking a significant diplomatic and institutional milestone for the country.
This position Nigeria at the centre of Africa’s evolving financial architecture and reflects its growing influence in shaping the continent’s economic integration agenda.
In addition to the permanent board seat, Nigeria will also be represented on the Board of the Technical Convergence Committee of the African Monetary Institute, the precursor institution to the proposed African Central Bank.
According to officials, the development underscores Nigeria’s technical capacity, economic significance and long-standing commitment to advancing Africa’s monetary integration and institutional development.
Commenting on the outcome, Minister of Foreign Affairs Yusuf Tuggar described the decision as a recognition of Nigeria’s leadership role on the continent.
“Nigeria’s permanent representation on the Board of the African Central Bank is a clear affirmation of our economic standing, technical competence and unwavering commitment to Africa’s integration agenda, it reinforces our resolve to contribute meaningfully to building strong continental financial institutions that will drive sustainable growth and shared prosperity.” Tuggar said.
On peace and security, the AU Executive Council also recorded progress with the successful election of candidates jointly endorsed by the Economic Community of West African States (ECOWAS) to the Peace and Security Council, reflecting strong regional cohesion and a shared commitment to stability and collective security.
Nigeria also demonstrated leadership in democratic governance by convening a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy.
The forum attracted ministers, senior government officials and delegates from across Africa and the international community, and focused on strengthening democratic institutions, inclusive governance and collaborative regional approaches to sustaining democratic values.
Nigeria’s engagements and outcomes at the AU session reaffirm the country’s commitment to the Union’s core objectives of economic integration, institutional development, peace, security and democratic governance.
The Federal Government, remains fully committed to working with AU member states and regional bodies to advance Africa’s shared prosperity and sustainable development,” Tuggar said.