Nigerian president affirms readiness to host African central bank in 2028

Sami Hegazi
2 Min Read

Nigerian President Bola Tinubu declared his country’s readiness to host the African Central Bank (ACB), reiterating the vision outlined in the Abuja Treaty. He expressed his administration’s commitment to collaborating with the African Union (AU) Commission and member states to ensure the bank’s launch as scheduled in 2028, according to a statement signed by his media advisor.

Tinubu made this announcement while addressing leaders at the 37th Ordinary Session of the Assembly of Heads of State and Government of the AU in Addis Ababa, Ethiopia. He emphasized that Africa’s success in overcoming its challenges hinges on collective resolve and unwavering solidarity, cautioning against perpetuating existing issues and creating new ones.

The president argued that the continent’s progress has been hampered by coup-induced autocracies and the harmful manipulation of constitutional term limits. He described these actions as “developmental cancers” self-inflicted by Africa.

“We face strong headwinds and difficult hurdles,” Tinubu declared, acknowledging both internal and external challenges to achieving good governance and economic development. “Many of these obstacles, such as climate change and unfair trade patterns, are beyond our control. However, some, like autocratic regimes born from coups and the harmful tinkering with constitutional terms, are self-inflicted wounds.”

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