AU Summit: Nigeria Secures Permanent Seat on African Central Bank Board

By: Chidozie Nwali

Nigeria has achieved a historic diplomatic and economic milestone at the 39th Ordinary Session of the African Union (AU) Executive Council, securing a permanent seat on the Board of the African Central Bank (ACB).

The announcement was made on Friday, by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, who described the development as a “landmark success” for the nation’s influence in the continent’s financial evolution.

The decision by the AU Executive Council ensures that Nigeria, Africa’s most populous nation and a leading economic power, will have a continuous and decisive role in shaping the continent’s monetary future. This seat also extends to the Board of the Technical Convergence Committee of the African Monetary Institute (AMI).

AMI serves as the institutional precursor to the African Central Bank, responsible for setting the macroeconomic benchmarks and technical frameworks required to launch a single African currency.

“This development underscores Nigeria’s strategic role in shaping Africa’s financial architecture,” Tuggar stated. “It affirms our technical capacity and commitment to the African Union’s monetary integration agenda.” He noted.

The appointment comes as Vice President Kashim Shettima arrives in Addis Ababa to represent President Bola Ahmed Tinubu at the main Assembly of Heads of State and Government (February 14–15).

The 2026 Summit, themed around sustainable water and sanitation, is set to tackle critical infrastructure goals.

However, Nigeria’s new permanent status at the ACB will likely dominate the economic sidebars, as the continent looks toward the African Central Bank to stabilize exchange rates and facilitate the African Continental Free Trade Area (AfCFTA).