Nigeria secures permanent seat on African Central Bank board

Abdullateef Fowewe

Nigeria has achieved a major diplomatic victory at the 39th Session of the African Union’s Executive Council, landing a permanent seat on the Board of the African Central Bank, Minister of Foreign Affairs Yusuf Tuggar announced Friday.

He disclosed that the agreement also extends Nigeria’s influence to the Board of the Technical Convergence Committee of the African Monetary Institute, a key step toward establishing the continent-wide bank.

Tuggar emphasised, “These developments affirm Nigeria’s technical capacity, economic significance, and commitment to advancing Africa’s monetary integration agenda.”

Nigeria further bolstered its role in peace and security through the election of ECOWAS-backed candidates to the AU’s Peace and Security Council.

This success underscores “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,” the minister noted.

The country also led a high-level panel on regional partnerships for democracy, drawing ministers and delegates continent-wide to discuss strengthening institutions and inclusive governance.

Tuggar reaffirmed Nigeria’s dedication, stating the outcomes “reaffirm the country’s commitment to the ideals and objectives of the African Union, particularly in promoting economic integration, institutional development, peace, security, and democratic governance across the continent.”

The Federal Government pledged continued collaboration for Africa’s shared prosperity.