AU Summit: Nigeria gets permanent seat on Board of African Central Bank
Nigeria Secures Permanent Seat on African Central Bank Board
Nigeria has secured a permanent position on the Board of the African Central Bank, according to a statement made by Foreign Affairs Minister, Ambassador Yusuf Tuggar, on Friday.
Tuggar announced the achievement during the 39th Session of the Executive Council of the African Union, which recently concluded. He noted that Nigeria’s participation at the session highlighted significant diplomatic and institutional progress, reinforcing the country’s leadership in promoting economic integration, peace, security, and democratic governance across Africa.
A key development from the session was the Council’s decision to grant Nigeria its permanent seat on the Board of the African Central Bank. Tuggar emphasized that this milestone signalizes Nigeria’s strategic influence on the continent’s financial framework. Additionally, Nigeria’s role will extend to the Board of the Technical Convergence Committee of the African Monetary Institute, which aims to facilitate the establishment of the African Central Bank.
Tuggar remarked that these advancements underscore Nigeria’s technical capabilities, economic significance, and commitment to fostering Africa’s monetary integration agenda.
In the realm of peace and security, the session also resulted in the successful election of candidates endorsed by the Economic Community of West African States (ECOWAS) to the Peace and Security Council. This outcome reflects cooperative efforts and unity among ECOWAS member states in their shared commitment to stability and security across the continent.
The minister further highlighted Nigeria’s leadership efforts in promoting democratic governance, referencing a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy that the country organized.
