Nigeria Secures Permanent Seat on African Central Bank Board

Nigeria has secured a permanent seat on the Board of the African Central Bank following deliberations at the African Union’s 39th Session of the Executive Council.

The development was announced on Friday by the Minister of Foreign Affairs, Yusuf Tuggar, who described the outcome as a significant diplomatic milestone for Nigeria and a boost to its leadership role in Africa’s evolving financial architecture. According to the minister, the decision reflects Nigeria’s economic weight, technical expertise, and longstanding commitment to advancing Africa’s monetary integration agenda. He noted that securing a permanent position on the board places Nigeria at the forefront of shaping policies that will guide the establishment and operations of the continental apex bank. The African Central Bank is one of the flagship financial institutions proposed under the African Union’s Agenda 2063 framework, aimed at fostering economic integration, monetary cooperation, and financial stability across member states. In addition to the board seat, Nigeria also secured representation on the Board of the African Monetary Institute’s Technical Convergence Committee, a key body responsible for coordinating macroeconomic alignment and preparatory work toward the operationalisation of the continental bank. Nigeria’s delegation to the session, held in Addis Ababa, Ethiopia, was led by Vice President Kashim Shettima alongside senior government officials. Discussions at the meeting covered a wide range of issues, including economic integration, peace and security, and institutional reforms within the African Union system. Officials say the permanent seat enhances Nigeria’s influence in continental financial decision-making and reinforces its strategic objective of promoting deeper economic cooperation among African states.