Nigeria has secured a permanent seat on the Board of the African Central Bank, following a resolution by the African Union’s Executive Council during its 39th session. The move positions Africa’s largest economy at the center of efforts to harmonise fiscal and monetary policies across the continent, marking a pivotal moment for Africa’s economic integration agenda.
The decision also extends Nigeria’s representation to the Board of the Technical Convergence Committee of the African Monetary Institute, widely regarded as a key step toward the operationalisation of the African Central Bank. This dual presence enables Nigeria to play a critical role in shaping the fiscal and monetary frameworks expected to define Africa’s financial future. As reported by Business Insider Africa
Minister of Foreign Affairs Yusuf Tuggar described the development as a “major milestone for Nigeria and for Africa’s monetary integration agenda.” He added: “The permanent seat on the Board of the African Central Bank reflects our technical expertise, economic significance, and consistent commitment to building strong continental institutions.”
Officials say the move strengthens Nigeria’s ability to influence not only financial governance but also broader initiatives aimed at economic integration, peace, and democratic governance across Africa. In addition, the session saw candidates jointly endorsed by the Economic Community of West African States (ECOWAS) elected to the Peace and Security Council, reflecting regional cohesion in advancing stability and collective security.
Beyond monetary policy, Nigeria convened a ministerial-level high-level panel on regional partnerships for democracy, bringing together officials from across Africa and international partners to examine institutional resilience and inclusive governance.
According to Abuja, the combined outcomes reinforce its ambition to anchor economic integration, democratic consolidation, and sustainable development efforts across the continent, cementing Nigeria’s influence in shaping Africa’s financial architecture.
