By Abiola Olawale
The African Union (AU) Executive Council has officially granted Nigeria a permanent seat on the Board of the African Central Bank (ACB).
The announcement was made by Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar.
According to Tuggar the decision was reached during the 48th Session of the Executive Council.
With the development, Nigeria becomes a foundational member of the ACB’s governing body.
Nigeria will now hold a seat on the Board of the Technical Convergence Committee of the African Monetary Institute (AMI).
The AMI serves as the critical precursor to the full establishment of the African Central Bank.
The statement read, “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. This landmark development underscores Nigeria’s strategic role in shaping Africa’s financial architecture.”
According to the ministry, the decision reflects Nigeria’s “technical capacity, economic significance, and commitment to advancing Africa’s monetary integration agenda.”
Tuggar added that the outcomes further consolidate the country’s leadership role in promoting economic integration, institutional development, and democratic governance across the continent.
On peace and security, the statement said candidates jointly endorsed by the Economic Community of West African States were successfully elected into the AU Peace and Security Council.
The statement read, “In the area of peace and security, the session witnessed the successful election of the candidates collectively agreed upon by the Economic Community of West African States to the Peace and Security Council.
“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.”
The statement added that Nigeria also hosted a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy on the sidelines of the summit.
The discussion was said to have attracted ministers, senior officials, and delegates from across Africa 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,” the ministry stated.
