Nigeria Secures Permanent Seat On African Central Bank Board

‎Nigeria has secured a major strategic gain at the ongoing 39th African Union Summit, after securing a permanent seat on the board of the African Central Bank.

‎Minister of Foreign Affairs, Yusuf Tuggar, confirmed this at the summit on Friday, highlighting it as a significant milestone for both Nigeria and the West African region.

‎“Importantly, Nigeria has been given the hosting of the African Monetary Institute and the African Central Bank. Not only that, in today’s plenary, Nigeria was confirmed a seat on the board of the African Central Bank. This is huge,” he said.

‎He stated that the development represents a diplomatic breakthrough, mentioning that the move faced initial opposition from some member states.

‎“It is something that was initially resisted by some countries, so now we have a permanent seat on the African Central Bank board. It’s a major success,” he added.

‎This year’s summit carries the theme: “Assuring Sustainable Water Availability and Safe Sanitation Systems to Achieve the Goals of Agenda 2063.”

‎The sessions will focus on advancing continental commitments to sustainable water management and improved sanitation, critical pillars for health, agricultural productivity, and the broader development aspirations of the AU’s Agenda 2063 framework.

‎Beyond financial governance, Nigeria and the West African bloc also recorded progress in elections to the Peace and Security Council, the African Union’s highest decision-making body on conflict and security matters.

‎The delegation announced that “Côte d’Ivoire, Sierra Leone, and the Republic of Benin have been elected,” with Benin securing a fresh term while the other two countries were re-elected.

‎The Peace and Security Council also convened to deliberate on the situations in Sudan and Somalia. Nigeria voiced strong reservations over Sudan’s potential readmission into the continental body.

‎“Nigeria voiced its reservations about Sudan being readmitted because, as you know, there are two warring factions in Sudan,” Tuggar stated.

‎“We reminded the Peace and Security Council that we have to abide by the rules and regulations of the African Union. If there has been an unconstitutional change of government, then the country should not be allowed to participate, and that was carried.”

‎The summit also outlined its 2026 theme: water sustainability. The Nigerian representative underscored the country’s strategic and demographic significance in advancing that agenda.

‎“Nigeria was created out of the confluence of the River Niger and the River Benue. So water is very important,” he said.

‎“We are the largest country in Africa, with a population of 230 million people. We’re going to be 400 million in the next 24 years. So water is a source of life. It’s very important, and we’re playing a very pivotal role in implementing the programs that are being set for the theme of the year.”

‎Meanwhile, Nigeria’s delegation was further strengthened with the arrival of Vice President Kashim Shettima, who is expected to participate in high-level plenary sessions.

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