Nigeria Ready to Host African Central Bank – Tinubu

During his address at the 37th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU) in Addis Ababa, Ethiopia, President Bola Tinubu announced Nigeria’s readiness to host the African Central Bank, aligning with the objectives outlined in the Abuja Treaty.

President Tinubu emphasized his administration’s commitment to engaging the African Union Commission and member states to ensure the successful establishment of the bank by the scheduled year of 2028.

Highlighting the significance of collective resolution in addressing Africa’s challenges, President Tinubu underscored the importance of solidarity among member states to overcome existing obstacles and prevent the emergence of new ones.

The Abuja Treaty, formally known as the Treaty Establishing the African Economic Community, was adopted on June 3, 1991, and came into force on May 12, 1994. Its provisions lay the groundwork for economic integration and cooperation among African nations.

President Tinubu’s proposal marks a significant step toward realizing the objectives outlined in the Abuja Treaty, which seeks to foster economic development and cooperation across the continent.