Nigeria Gets Permanent Seat On African Central Bank Board At AU Summit

Nigeria has secured a permanent seat on the board of the African Central Bank during the 39th African Union Summit.

Minister of Foreign Affairs, Yusuf Tuggar, announced the development on Friday, describing it as a major achievement for Nigeria and the wider 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.

Tuggar noted that the decision did not come easily, as some member states initially opposed it, but Nigeria eventually secured the seat.

“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 is titled “Assuring Sustainable Water Availability and Safe Sanitation Systems to Achieve the Goals of Agenda 2063.”

Discussions are centered on improving water management and sanitation across the continent, which are seen as essential for public health, agriculture, and long-term development under the AU’s Agenda 2063 plan.

Apart from financial matters, Nigeria and other West African countries also recorded progress in elections into the Peace and Security Council, the African Union body responsible for handling conflict and security issues.

Côte d’Ivoire, Sierra Leone, and the Republic of Benin were elected, with Benin beginning a new term while the other two retained their seats.

The Peace and Security Council also reviewed ongoing crises in Sudan and Somalia.

Nigeria expressed concern about Sudan’s possible return to the African Union, pointing out that the country is currently facing internal conflict between rival factions.

Tuggar stressed that the AU must follow its rules, especially regarding countries that have experienced unconstitutional changes in government.

“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.”

Looking ahead, the summit announced that water sustainability will remain a central theme in 2026.

Nigeria’s delegation emphasized the country’s importance in this area, noting its population size and the historical significance of the Rivers Niger and Benue.

“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.”

KanyiDaily recalls that Vice President Kashim Shettima joined Nigeria’s delegation and is expected to take part in key high-level discussions at the summit.