Nigeria has been granted a permanent seat on the Board of the African Central Bank, a significant development announced during the recently concluded 39th Session of the Executive Council of the African Union.
The announcement was made in a statement issued on Friday by Nigeria’s Minister of Foreign Affairs, Amb. Yusuf Tuggar.
Tuggar highlighted that the most notable outcome of the session was the Council’s decision to award Nigeria a permanent position on the Board of the African Central Bank.
He said the decision reflects Nigeria’s growing influence in Africa’s financial framework and further expands the country’s representation.
“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.”
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The minister added that the decision reinforces Nigeria’s technical expertise, economic importance, and commitment to promoting Africa’s monetary integration.
In addition to the financial achievement, Tuggar noted that the Economic Community of West African States (ECOWAS) candidate was elected to the Peace and Security Council, emphasizing the region’s united stance on security issues.
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He described the outcome as a reflection of strong regional cohesion and cooperation among ECOWAS member countries, as well as their collective commitment to peace and stability across Africa.
Tuggar also highlighted Nigeria’s leadership in democratic governance, noting that the country organized a high-level panel discussion titled “Regional Partnerships for Democracy.”
He said the event drew ministers, senior officials, and delegates from across Africa and the international community, providing a platform for dialogue on strengthening democratic institutions and inclusive governance.
“Furthermore, Nigeria demonstrated leadership in strengthening democratic governance across Africa by organising a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy. The event attracted wide participation from ministers, senior government officials, and delegates, not only from the West African region but from across the continent and the international community. The panel facilitated constructive dialogue on strengthening democratic institutions, fostering inclusive governance, and enhancing collaborative regional approaches to sustaining democratic values.”
Tuggar said the outcomes of the 39th Executive Council session reinforce Nigeria’s dedication to the objectives of the African Union, particularly in economic integration, institutional development, peace, security, and democratic governance.
“Nigeria’s engagements and outcomes at the 39th Executive Session of the Executive Council reaffirm the country’s commitment to the ideals and objectives of the African Union, particularly in promoting economic integration, institutional development, peace, security, and democratic governance across the continent.
“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,” he stated.
