Nigeria secures permanent seat on African Central Bank Board

Nigeria has secured a permanent seat on the Board of the African Central Bank (ACB) following approval by the Executive Council of the African Union (AU), the Ministry of Foreign Affairs has announced.

The Minister of Foreign Affairs, Yusuf Tuggar, disclosed the development in a statement on Friday, describing it as a significant diplomatic and institutional milestone that reinforces Nigeria’s influence in shaping Africa’s financial and economic architecture.

According to Tuggar, the decision was one of Nigeria’s key gains at the recently concluded 39th session of the AU Executive Council, where the country recorded notable strides in diplomacy, economic integration and institutional leadership.

“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,” Tuggar stated. “This landmark decision reflects Nigeria’s strategic role in advancing Africa’s financial architecture and monetary integration.”

Expanded Representation in Monetary Institutions

The minister explained that the approval also extends Nigeria’s representation to the Board of the Technical Convergence Committee of the African Monetary Institute — the body serving as a precursor to the establishment of the African Central Bank.

He noted that the development underscores Nigeria’s technical capacity, economic weight and longstanding commitment to Africa’s monetary integration agenda.

ECOWAS Candidates Elected to AU Peace Council

On peace and security, Tuggar revealed that candidates jointly endorsed by the Economic Community of West African States (ECOWAS) were successfully elected to the AU Peace and Security Council.

He described the outcome as a demonstration of strong regional cohesion and collective resolve among ECOWAS member states to promote stability and shared security objectives across the continent.

Nigeria Pushes Democratic Governance Agenda

The minister further stated that Nigeria took a leadership role in strengthening democratic governance by convening a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy during the session.

According to him, the event attracted ministers, senior government officials and international delegates, fostering dialogue on deepening democratic institutions, promoting inclusive governance and enhancing collaborative regional efforts to sustain democratic values.

Tuggar maintained that Nigeria’s engagements and achievements at the 39th AU Executive Council session reaffirm the country’s commitment to the African Union’s core objectives, including economic integration, institutional development, peace, security and democratic governance.

He added that the Federal Government remains committed to working closely with AU member states and regional bodies to promote shared prosperity, stability and sustainable development across Africa.