Nigeria Secures Permanent Seat On African Central Bank Board

Nigeria has achieved significant diplomatic victories at the just-concluded 39th Session of the Executive Council of the African Union (AU), including securing a permanent seat on the Board of the African Central Bank, a major milestone in the country’s leadership role within Africa’s financial and economic integration framework.

According to a statement issued on Friday by Ambassador Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs, the decision reflects “Nigeria’s strategic role in shaping Africa’s financial architecture” and underscores the country’s “technical capacity, economic significance, and commitment to advancing Africa’s monetary integration agenda.”

The new position also extends Nigeria’s representation to the Board of the Technical Convergence Committee of the African Monetary Institute, the precursor institution to the African Central Bank. The development marks a critical step in the continent’s long-term plan toward a unified African monetary system.

In the area of peace and security, Nigeria also played a pivotal role in securing the successful election of candidates endorsed by the Economic Community of West African States (ECOWAS) to the Peace and Security Council of the African Union. Tuggar described the outcome as “a reflection of the strong cohesion, cooperation, and unity among ECOWAS Member States,” adding that it demonstrates the region’s shared commitment to “promoting stability and collective security across the continent.”

On the sidelines of the summit, Nigeria also hosted a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy, which drew participants from across Africa and the international community. The forum, according to the statement, fostered “constructive dialogue on strengthening democratic institutions, fostering inclusive governance, and enhancing collaborative regional approaches to sustaining democratic values.”

Ambassador Tuggar noted that the series of achievements at the AU Executive Council Session reaffirm Nigeria’s dedication to the ideals and objectives of the Union.

“Nigeria remains committed to advancing Africa’s shared prosperity, peace, and sustainable development,” he stated.

“These outcomes highlight our country’s enduring leadership in promoting economic integration, institutional development, and democratic governance across the continent,” he added.

The 39th Session of the AU Executive Council brought together ministers and senior officials from all member-states to review progress on continental priorities ahead of the upcoming AU Heads of State Summit.