The Federal Government of Nigeria has hailed the country’s historic achievement of securing a permanent seat on the Board of the African Central Bank, marking a major diplomatic and financial milestone.
In a statement on Friday, Foreign Affairs Minister Yusuf Tuggar described the development as a landmark achievement at the 39th Session of the African Union Executive Council.
“This landmark development underscores Nigeria’s strategic role in shaping Africa’s financial architecture,” Tuggar said.
Strategic Importance in Africa’s Financial Architecture
The minister emphasized that the decision reflects Nigeria’s critical role in continental monetary integration. In addition to the permanent board seat, Nigeria’s representation has also been extended to the Technical Convergence Committee of the African Monetary Institute, the precursor to the African Central Bank.
“These developments affirm Nigeria’s technical expertise, economic significance, and commitment to advancing Africa’s monetary integration agenda,” Tuggar stated.
Strengthening Peace, Security, and Regional Cooperation
Beyond finance, Nigeria played a pivotal role in peace and security initiatives. Candidates jointly endorsed by ECOWAS were successfully elected to the African Union Peace and Security Council, demonstrating the region’s cohesion and commitment to continental stability.
Promoting Democratic Governance Across Africa
During the AU session, Nigeria hosted a Ministerial High-Level Panel on Regional Partnerships for Democracy, attracting ministers, senior officials, and international delegates. The discussion focused on:
Strengthening democratic institutions
Promoting inclusive governance
Enhancing regional cooperation to sustain democratic values
Nigeria’s Commitment to Africa’s Development
Minister Tuggar reaffirmed Nigeria’s dedication to the African Union’s goals, highlighting the country’s active engagement in promoting:
Economic integration
Institutional development
Peace and security
Democratic governance
The Federal Government remains committed to collaborating with African member states and regional organizations to drive shared prosperity and sustainable development across the continent.
