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

Tunde Abiola by Tunde Abiola
February 13, 2026
in Business, News
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Nigeria has recorded major diplomatic gains at the just-concluded 39th Session of the Executive Council of the African Union (AU), including securing a permanent seat on the Board of the proposed African Central Bank.

Minister of Foreign Affairs, Ambassador Yusuf Tuggar, disclosed this in a statement issued on February 13, 2026, describing the outcome as a landmark achievement that consolidates Nigeria’s leadership role in advancing Africa’s economic integration, peace, security, and democratic governance.

According to the Minister, the Executive Council agreed to grant Nigeria a permanent seat on the Board of the African Central Bank, a decision he said underscores the country’s strategic importance in shaping Africa’s financial architecture.

The decision also extends Nigeria’s representation to the Board of the Technical Convergence Committee of the African Monetary Institute, which serves as a precursor to the establishment of the African Central Bank.

“These developments affirm Nigeria’s technical capacity, economic significance, and commitment to advancing Africa’s monetary integration agenda,” Tuggar stated.

In the area of peace and security, the Minister said the session witnessed the successful election of candidates collectively agreed upon by the Economic Community of West African States (ECOWAS) to the Peace and Security Council of the AU.

He described the outcome as a reflection of the strong cohesion and unity among ECOWAS member states, as well as the region’s shared commitment to promoting stability and collective security across the continent.

Nigeria also used the platform to advance democratic governance across Africa by organising a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy.

The event attracted ministers, senior government officials, and delegates from across the continent and the international community. According to Tuggar, the panel facilitated constructive dialogue on strengthening democratic institutions, fostering inclusive governance, and enhancing collaborative regional approaches to sustaining democratic values.

Overall, Nigeria’s engagements and outcomes at the 39th Executive Council session, the Minister said, reaffirm the country’s commitment to the ideals and objectives of the African Union, particularly in promoting economic integration, institutional development, peace, security, and democratic governance across Africa.

He added that the Federal Government remains dedicated to working collaboratively with AU member states and regional bodies to advance Africa’s shared prosperity and sustainable development.

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