Nigeria has secured a permanent seat on the board of the African Central Bank (ACB), marking a significant diplomatic and economic milestone during the ongoing session of the Executive Council of the African Union (AU).
The decision ensures Nigeria’s long-term influence within the institution, which is slated to be headquartered in the nation’s capital, Abuja.
In a statement released by the Ministry of Foreign Affairs, spokesperson Kimiebi Imomotimi Ebienfa described the agreement as a “laudable development” and a clear indicator of Nigeria’s enduring leadership within the continent’s financial landscape.
The African Central Bank is one of the AU’s planned financial institutions intended to foster economic integration and manage the continent’s common currency. By securing a permanent board position, Nigeria—Africa’s largest economy—positions itself at the forefront of regional monetary policy and financial governance.
The Ministry emphasized that this achievement underscores Nigeria’s status as a pivotal player in the evolution of African financial institutions.
