The executive council of the African Union (AU) has agreed to grant Nigeria a permanent seat on the board of the African Central Bank (ACB), according to the ministry of foreign affairs.
The feat reflects Nigeria’s role in shaping the continent’s financial architecture, Yusuf Tuggar, minister of foreign affairs, said in a statement on Friday.
The development is said to be one of the achievements of the West African nation at the just-concluded 39th session of the African Union.
Tuggar said Nigeria recorded significant diplomatic and institutional achievements, consolidating its leadership role in advancing Africa’s economic integration, peace, security, and democratic governance.
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,” the minister said.
“This landmark development underscores Nigeria’s strategic role in shaping Africa’s financial architecture.
“This 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 developments, according to the diplomat, affirm Nigeria’s technical capacity, economic significance, and commitment to advancing Africa’s monetary integration agenda.
On peace and security, the minister said the session witnessed the successful election of the candidates collectively agreed upon by the Economic Community of West African States (ECOWAS) to the peace and security council.
“This outcome 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,” Tuggar said.
“Furthermore, Nigeria demonstrated leadership in strengthening democratic governance across Africa by organising a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy.
“The event attracted wide participation from ministers, senior government officials, and delegates, not only from the West African region but from across the continent and the international community.”
Tuggar said the panel facilitated constructive dialogue on strengthening democratic institutions, fostering inclusive governance, and enhancing collaborative regional approaches to sustaining democratic values.
He said Nigeria’s engagements and outcomes at the 39th executive council session 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 ambassador said the federal government remains dedicated to working collaboratively with member states and regional bodies to advance Africa’s shared prosperity and sustainable development.
