The Executive Council of the African Union (AU) has approved Nigeria’s request for a permanent seat on the board of the African Central Bank (ACB), the Ministry of Foreign Affairs has said.
In a statement on Friday, Minister of Foreign Affairs Yusuf Tuggar described the decision as a reflection of Nigeria’s influence in shaping Africa’s financial architecture. He said the development was one of the key outcomes of the just-concluded 39th session of the AU, where Nigeria recorded notable diplomatic and institutional gains.
“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 said.
“This landmark development underscores Nigeria’s strategic role in shaping Africa’s financial architecture.
“This decision also extends Nigeria’s representation to the Board of the Technical Convergence Committee of the African Monetary Institute, which serves as the precursor to the establishment of the African Central Bank.”
According to the minister, the move affirms Nigeria’s technical expertise, economic weight and commitment to advancing Africa’s monetary integration agenda.
On peace and security, Tuggar said candidates jointly endorsed by the Economic Community of West African States (ECOWAS) were successfully elected to the Peace and Security Council, describing the outcome as a demonstration of unity and cooperation within the region.
“This outcome reflects the strong cohesion, cooperation, and unity among ECOWAS Member States, as well as the region’s shared commitment to promoting stability and collective security across the continent,” he said.
He added that Nigeria also organised a ministerial high-level panel discussion on regional partnerships for democracy, which drew participation from ministers and delegates across Africa and beyond.
The panel, he said, encouraged dialogue on strengthening democratic institutions, promoting inclusive governance and enhancing regional collaboration to sustain democratic values.
Tuggar noted that Nigeria’s participation at the session reaffirmed its commitment to the ideals of the African Union, particularly in advancing economic integration, institutional development, peace, security and democratic governance, adding that the federal government remains committed to working with member states to promote shared prosperity and sustainable development across the continent.