Nigeria has secured a permanent seat on the African Central Bank Board following a resolution by the African Union’s Executive Council. This decision strengthens the country’s role as the continent’s largest economy and places it at the center of efforts to harmonize fiscal and monetary policies across Africa.

As part of this appointment, Abuja will also serve on the Technical Convergence Committee of the African Monetary Institute, a key body in the process of establishing the continental central bank. The committee is tasked with defining technical standards and strategies to ensure monetary coordination and financial stability across the continent.

Nigerian officials highlight that this strategic development will enable the country to play a leading role in promoting economic integration, peace, and democratic governance in Africa. They also note that Nigeria’s participation in these structures will strengthen its influence in major financial and economic decisions at the continental level.

This milestone marks a significant step for Nigeria and reflects Africa’s commitment to building strong, coordinated regional financial institutions capable of supporting long-term growth and economic stability.