Nigeria has secured a permanent seat on the Board of the African Central Bank after the 39th Session of the Executive Council of the African Union, a move the Federal Government says strengthens the country’s leadership in Africa’s economic integration and financial governance.

Minister of Foreign Affairs, Ambassador Yusuf Tuggar, described the decision as a landmark diplomatic achievement that underscores Nigeria’s strategic importance in shaping the continent’s monetary architecture.

Tuggar said, “This is a major milestone for Nigeria and for Africa’s monetary integration agenda.

“The permanent seat on the Board of the African Central Bank reflects our technical expertise, economic significance and consistent commitment to building strong continental institutions.”

The Council’s resolution also extends Nigeria’s representation to the Board of the Technical Convergence Committee of the African Monetary Institute, a precursor to the establishment of the African Central Bank.

According to Tuggar, this positions Nigeria at the centre of ongoing efforts to harmonise fiscal and monetary policies across Africa.

“Our presence at both levels ensures that Nigeria will play an active role in designing the frameworks that will define Africa’s financial future,” he added.

In the area of peace and security, the session recorded the successful election of candidates jointly endorsed by the Economic Community of West African States to the Peace and Security Council.

Tuggar said the outcome reflected the unity and cooperation among West African states in advancing stability across the continent.

“The cohesion demonstrated by ECOWAS Member States highlights our shared resolve to promote peace, security and collective action,” he said.

Nigeria also convened a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy, drawing ministers and senior officials from across Africa and the international community to deliberate on strengthening democratic institutions and inclusive governance.

Tuggar noted that the dialogue reinforced Nigeria’s commitment to sustaining democratic values through regional collaboration, adding that the country would continue to work with member states to promote economic integration, institutional development, peace and sustainable development across the continent.

 

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