Nigeria secures Permanent Seat on African Central Bank Board at AU Summit

2026-02-13 - 11:29

Nigeria has achieved a major diplomatic and institutional milestone at the recently concluded 39th Session of the Executive Council of the African Union (AU), cementing its leadership role in advancing Africa’s economic integration, peace, security, and democratic governance. A key highlight of the summit was the Council’s approval to grant Nigeria a permanent seat on the Board of the African Central Bank. The decision also extends Nigeria’s representation to the Board of the Technical Convergence Committee of the African Monetary Institute, the precursor to the African Central Bank. This landmark development underscores Nigeria’s strategic influence in shaping Africa’s financial architecture and monetary integration agenda. On peace and security, Nigeria contributed to the successful election of candidates agreed upon by the Economic Community of West African States (ECOWAS) to the AU Peace and Security Council. The outcome reflects strong regional cohesion and a shared commitment to stability across the continent. In promoting democratic governance, Nigeria hosted a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy, attracting ministers, senior officials, and delegates from across Africa and the international community. The panel facilitated dialogue on strengthening democratic institutions, fostering inclusive governance, and enhancing regional collaboration. Ambassador Yusuf Tuggar, Minister of Foreign Affairs, said Nigeria’s achievements at the AU Executive Council reaffirm the country’s commitment to the African Union’s ideals, particularly in promoting economic integration, institutional development, and sustainable development across the continent. The Federal Government reiterated its dedication to working collaboratively with AU member states and regional bodies to advance Africa’s shared prosperity.