AU summit: Nigeria secures permanent seat on African Central Bank board

Nigeria has recorded major diplomatic and institutional gains at the 39th session of the Executive Council of the African Union, including securing a permanent seat on the board of the African Central Bank.

The Minister of Foreign Affairs, Yusuf Tuggar, announced this in a statement issued on Friday, February 13, 2026, saying the development marked a significant step in consolidating Nigeria’s leadership role in Africa’s economic integration, peace, security, and democratic governance.

Tuggar disclosed that the Executive Council also approved Nigeria’s representation on the board of the African Monetary Institute, the institution which serves as the precursor to the establishment of the African Central Bank.

Tuggar described the development as a recognition of Nigeria’s technical capacity, economic relevance, and commitment to Africa’s monetary integration agenda.

The minister said: “In the area of peace and security, the session witnessed the successful election of the candidates collectively agreed upon by the Economic Community of West African States to the Peace and Security Council.

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“This outcome reflects the strong cohesion, cooperation, and unity among ECOWAS Member States, as well as the region’s shared commitment to promoting stability and collective security across the continent.”

On democratic governance, Tuggar said Nigeria organised a ministerial-level high-level panel on regional partnerships for democracy, noting that the event drew participation from ministers, senior government officials and delegates from across Africa and the international community, and focused on strengthening democratic institutions, promoting inclusive governance, and enhancing regional cooperation in sustaining democratic values.

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

Tuggar added that the federal government would continue to work with African Union member states and regional bodies to promote shared prosperity and sustainable development across the continent.

The Star