Nigeria has secured a permanent seat on the Board of the African Central Bank following deliberations at the 39th Session of the Executive Council of the African Union (AU), according to a statement issued by the Ministry of Foreign Affairs on Thursday.
In the statement signed by Foreign Affairs Minister Ambassador Yusuf Tuggar, the ministry said, “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.”
The African Central Bank is one of the financial institutions envisioned under the AU’s Agenda 2063 framework to support monetary integration across the continent. Although the bank is yet to be fully established, preparatory work is being coordinated through the African Monetary Institute and related technical bodies.
The ministry added that the 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.”
The development places Nigeria in a key position within ongoing discussions around Africa’s proposed single currency and broader financial architecture. Nigeria, Africa’s most populous country and one of its largest economies, has historically played a leading role in continental economic and political initiatives.
On peace and security, the statement said candidates collectively endorsed by the Economic Community of West African States (ECOWAS) were successfully elected to the AU Peace and Security Council during the session. The ministry described the outcome as reflecting “the strong cohesion, cooperation, and unity among ECOWAS Member States.”
The AU Peace and Security Council is the continental body responsible for conflict prevention, management and resolution across Africa. ECOWAS has previously coordinated common regional positions in elections to AU organs.
The statement also noted that Nigeria organised a Ministerial High-Level Panel Discussion on “Regional Partnerships for Democracy” on the margins of the meeting. According to the ministry, the event drew participation from ministers, senior officials and delegates from across Africa and the international community and focused on strengthening democratic institutions and inclusive governance.
The ministry said Nigeria’s engagements at the session “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 39th Executive Council session brought together foreign ministers of AU member states to consider policy matters and recommendations ahead of decisions by the Assembly of Heads of State and Government.
