Nigeria Secures Permanent Seat at African Central Bank

The African Central Bank has granted Nigeria a permanent board seat, a significant achievement in the country's ongoing financial integration efforts. The announcement was made by Kimiebi Imomotimi Ebienfa, spokesperson for Nigeria's Ministry of Foreign Affairs, in Abuja on Friday.

This development follows the conclusion of the 48th session of the Executive Council of the African Union (AU), where Nigeria's strategic role in shaping Africa's emerging financial architecture was underscored. The Ministry of Foreign Affairs described this decision as a landmark moment for Nigeria within Africa's financial governance structure.

The agreement highlights Nigeria's leadership role in advancing economic integration, peace, security, and democratic governance across the continent. President Bola Ahmed Tinubu assured African leaders of Nigeria's readiness to host the African Central Bank, pledging collaboration with AU member states to establish the bank by 2028.

This permanent seat reinforces Nigeria's central role in the continent's economic policymaking and reflects its growing economic weight within the AU framework.