The African Union has granted Nigeria a permanent seat on the Board of the African Central Bank.
Nigeria secured the seat during the just-concluded 39th Session of the Executive Council of the African Union held in Addis Ababa, Ethiopia.
Ambassador Yusuf Tuggar
Minister of Foreign Affairs, confirmed on Friday in a statement in Abuja.
Tugar said: ” This landmark development underscores Nigeria’s strategic role in shaping Africa’s financial architecture.
“This decision also extends Nigeria’s representation to the Board of the Technical Convergence Committee of the African Monetary Institute, which serves as the precursor to the establishment of the African Central Bank.
“These developments affirm Nigeria’s technical capacity, economic significance, and commitment to advancing Africa’s monetary integration agenda.”
The Minister also revealed that :”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.
“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.
“Furthermore, Nigeria demonstrated leadership in strengthening democratic governance across Africa by organising a Ministerial High-Level Panel Discussion on Regional Partnerships for Democracy.
“The event attracted wide participation from ministers, senior government officials, and delegates, not only from the West African region but from across the continent and the international community.
“The panel facilitated constructive dialogue on strengthening democratic institutions, fostering inclusive governance, and enhancing collaborative regional approaches to sustaining democratic values.
“Nigeria’s engagements and outcomes at the 39th Executive Session of the Executive Council reaffirm the country’s commitment to the ideals and objectives of the African Union, particularly in promoting economic integration, institutional development, peace, security, and democratic governance across the continent.
“The Federal Government of Nigeria remains dedicated to working collaboratively with Member States and regional bodies to advance Africa’s shared prosperity and sustainable development,” Tugar explained. (vitalnewsngr.com)
