Nigeria has secured a permanent seat on the Board of the African Central Bank (ACB), marking a major diplomatic breakthrough at the just-concluded 39th Session of the Executive Council of the African Union (AU) in Addis Ababa, Ethiopia.
The announcement was made by Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs, who is accompanying Vice President Kashim Shettima to the summit.
Tuggar described the development as a landmark achievement that reinforces Nigeria’s leadership role in shaping Africa’s financial and economic architecture.
“This landmark development underscores Nigeria’s strategic role in shaping Africa’s financial architecture,” Tuggar said.
The decision also grants Nigeria representation on the Board of the Technical Convergence Committee of the African Monetary Institute, the body serving as a precursor to the establishment of the African Central Bank.
According to the minister, the move affirms Nigeria’s:
- Technical and financial capacity
- Economic significance within Africa
- Commitment to advancing continental monetary integration
Beyond the financial milestone, Nigeria also recorded progress in the area of peace and security.
At the session, candidates collectively endorsed by the Economic Community of West African States (ECOWAS) were successfully elected to the AU Peace and Security Council, an outcome Tuggar said reflects strong regional unity and cooperation.
He noted that the result demonstrates West Africa’s shared commitment to promoting stability and collective security across the continent.
Nigeria also convened a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy, drawing ministers, senior officials, and international delegates.
The discussion focused on:
- Strengthening democratic institutions
- Promoting inclusive governance
- Enhancing regional collaboration to safeguard democratic values
Tuggar said Nigeria’s engagements at the summit reaffirm its commitment to advancing economic integration, institutional reform, peace, and democratic governance across Africa.
With a permanent seat on the African Central Bank Board, Nigeria is now positioned to play a more influential role in shaping policies around monetary integration and financial stability on the continent.
The Federal Government pledged to continue working with AU member states and regional bodies to promote Africa’s shared prosperity and sustainable development.
