Nigeria secures permanent seat on African Central Bank Board at AU summit

 

Nigeria has recorded major diplomatic gains at the just-concluded 39th Session of the Executive Council of the African Union, including securing a permanent seat on the board of the African Central Bank.

The Ministry of Foreign Affairs said the development represents a significant milestone for the country and affirms its strategic role in shaping Africa’s financial architecture and economic integration agenda.

According to statement personally signed by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, on Friday, the decision also extends Nigeria’s representation to the Board of the Technical Convergence Committee of the African Monetary Institute, which serves as the precursor to the establishment of the African Central Bank.

The statement noted that the outcome “underscores Nigeria’s technical capacity, economic significance, and commitment to advancing Africa’s monetary integration agenda.”

In the area of peace and security, the Executive Council also ratified the election of candidates jointly endorsed by the Economic Community of West African States to the Peace and Security Council of the African Union.

The ministry said the development reflects “the strong cohesion, cooperation, and unity among ECOWAS Member States, as well as the region’s shared commitment to promoting stability and collective security across the continent.”

Nigeria also hosted a ministerial high-level panel discussion on regional partnerships for democracy, which drew ministers, senior government officials and delegates from across Africa and the international community.

The panel, according to the ministry, “facilitated constructive dialogue on strengthening democratic institutions, fostering inclusive governance, and enhancing collaborative regional approaches to sustaining democratic values.”

The statement added that Nigeria’s engagements at the session reaffirm the country’s commitment to the objectives of the African Union, particularly in promoting economic integration, institutional development, peace, security and democratic governance.

“The Federal Government of Nigeria remains dedicated to working collaboratively with Member States and regional bodies to advance Africa’s shared prosperity and sustainable development,” the statement added.