Nigeria Secures Permanent Seat on African Central Bank Board at AU Session

Nigeria has clinched a permanent seat on the board of the proposed African Central Bank, marking a major diplomatic and economic milestone at the just-concluded 39th Session of the Executive Council of the African Union.

Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, disclosed the development in a statement on Friday, describing it as a landmark decision that reinforces Nigeria’s growing influence in shaping Africa’s financial architecture.

According to Tuggar, the Council’s agreement not only grants Nigeria a permanent seat on the African Central Bank board but also extends the country’s representation to the Board of the Technical Convergence Committee of the African Monetary Institute — the body serving as a precursor to the establishment of the continental bank.

He said the outcome highlights Nigeria’s technical expertise, economic weight, and commitment to advancing Africa’s monetary integration agenda.

On peace and security, the minister noted that a candidate from the Economic Community of West African States (ECOWAS) was elected to the AU Peace and Security Council, a move he said reflects strong regional cohesion and a shared resolve to promote stability and collective security across the continent.

Tuggar added that Nigeria further demonstrated leadership in democratic governance by hosting a high-level ministerial panel discussion on regional partnerships for democracy. The event drew ministers, senior officials, and delegates from across Africa and beyond, fostering dialogue on strengthening democratic institutions, inclusive governance, and collaborative regional strategies.

He stressed that Nigeria’s engagements and outcomes at the session reaffirm the country’s commitment to the AU’s goals of economic integration, institutional development, peace, security, and democratic governance, pledging continued collaboration with member states to advance Africa’s shared prosperity and sustainable development.