AU Summit: Nigeria Clinches Permanent Seat on African Central Bank Board
Nigeria has secured a permanent seat on the Board of the African Central Bank (ACB) following a resolution of the African Union Executive Council at its 39th session, Global Mirror News has gathered.
The announcement was made by the Minister of Foreign Affairs, Yusuf Tuggar, who described the development as a significant diplomatic breakthrough and a strategic win for Nigeria’s role in shaping Africa’s financial and monetary systems.
According to Tuggar, the decision stands out among Nigeria’s key accomplishments at the recently concluded summit of the African Union (AU), where the country recorded progress in diplomacy, economic integration and institutional representation.
He noted that the permanent seat on the ACB Board underscores Nigeria’s economic weight, technical expertise and longstanding advocacy for deeper monetary integration across the continent.
The Minister further explained that the approval also guarantees Nigeria’s representation on the Board of the African Monetary Institute’s Technical Convergence Committee, a critical institutional structure preceding the full establishment of the African Central Bank.
The committee is tasked with harmonising macroeconomic frameworks and facilitating convergence criteria among member States.
Global Mirror News reports that the ACB is a key component of the AU’s broader financial architecture, aimed at promoting a unified monetary policy framework and strengthening economic stability across Africa.
On matters of peace and regional security, Tuggar disclosed that candidates jointly endorsed by the Economic Community of West African States (ECOWAS) were successfully elected into the AU Peace and Security Council.
He said the development reflects cohesion among West African states and their collective commitment to stability and security on the continent.
The Minister also highlighted Nigeria’s leadership in democratic governance discussions at the summit, noting that the country convened a Ministerial High-Level Panel on Regional Partnerships for Democracy.
The session, he said, drew participation from Minister, Senior Officials and delegates across Africa and beyond, fostering dialogue on strengthening democratic Institutions, inclusive governance and collaborative regional frameworks.
Tuggar maintained that Nigeria’s engagements at the 39th AU Executive Council reaffirm the Federal Government’s commitment to advancing the AU’s core objectives, including economic integration, institutional development, peace, security and democratic governance.
He added that Nigeria remains committed to working closely with AU member states and regional bodies to drive shared prosperity, sustainable development and continental stability.
