Nigeria has secured a permanent seat on the board of the proposed African Central Bank (ACB) following a decision by the Executive Council of the African Union (AU) at its 39th session in Addis Ababa, Ethiopia.
The Ministry of Foreign Affairs described the development as a major diplomatic milestone, reflecting the country’s growing influence in shaping the continent’s financial and monetary architecture.
Minister of Foreign Affairs, Yusuf Tuggar, said the achievement was among several gains recorded by Nigeria at the summit, noting that the country continues to consolidate its leadership role in advancing Africa’s economic integration, peace, security and democratic governance.
Highlighting the significance of the decision, Tuggar said: “A major highlight of the session was the Council’s agreement to grant Nigeria a permanent seat on the Board of the African Central Bank.” He added that “this landmark development underscores Nigeria’s strategic role in shaping Africa’s financial architecture.”
The decision also extends Nigeria’s representation to the Board of the Technical Convergence Committee of the African Monetary Institute, which serves as a precursor to the establishment of the African Central Bank.
According to the minister, the outcome affirms Nigeria’s technical capacity, economic relevance and commitment to advancing the continent’s monetary integration agenda.
Beyond financial matters, Tuggar said the AU session also recorded progress in peace and security, including the successful election of candidates endorsed by the Economic Community of West African States (ECOWAS) into the AU Peace and Security Council. He noted that the development reflects strong regional cooperation and a shared commitment to stability across the continent.
Nigeria also hosted a ministerial high-level panel on regional partnerships for democracy during the summit, bringing together officials and delegates from across Africa and the international community to discuss ways to strengthen democratic institutions and inclusive governance.
The foreign affairs minister said the country’s engagements at the summit reaffirm its dedication to the objectives of the African Union, particularly in promoting economic integration, institutional development, peace, security and sustainable development across Africa.
