Nigeria has secured a permanent seat on the Board of the African Central Bank, marking a major diplomatic victory at the just-concluded 39th Session of the African Union Executive Council in Addis Ababa, Ethiopia.
The decision, announced at the end of the session, grants Nigeria a strategic position in shaping the continent’s future financial architecture.
According to a statement by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, the country’s representation will also extend to the Board of the Technical Convergence Committee of the African Monetary Institute — the precursor to the full establishment of the African Central Bank.
“This landmark development underscores Nigeria’s strategic role in shaping Africa’s financial architecture,” the statement read.
The development is seen as a formal recognition of Nigeria’s economic heft, technical expertise, and longstanding commitment to the African monetary integration agenda.
In the realm of peace and security, the session recorded the successful election of candidates jointly endorsed by the Economic Community of West African States (ECOWAS) to the AU Peace and Security Council.
Diplomatic sources described the outcome as a reflection of strengthened cohesion among West African nations, signalling the region’s unified stance on promoting stability and collective security across the continent.
Beyond institutional gains, Nigeria demonstrated leadership in governance by organising a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy.
The event drew participation from ministers, senior officials, and delegates across Africa and beyond, providing a platform for robust dialogue on strengthening democratic institutions, fostering inclusive governance, and deepening regional collaboration to sustain democratic values.
Reaffirmed Commitment to AU Ideals
Ambassador Tuggar noted that Nigeria’s engagements and outcomes at the Executive Council reaffirm the country’s dedication to the core objectives of the African Union — particularly economic integration, institutional development, peace, security, and democratic governance.
“The Federal Government of Nigeria remains dedicated to working collaboratively with Member States and regional bodies to advance Africa’s shared prosperity and sustainable development,” Tuggar stated.
The 39th Ordinary Session of the Executive Council precedes the African Union Summit of Heads of State and Government, where broader continental policies and reforms are expected to take centre stage.