The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has emphasized the importance of collaboration with African partners following Nigeria's recent approval as a permanent member of the Board of the African Monetary Institute (AMI). This significant development was confirmed during the 39th Ordinary Session of the Assembly of the African Union in February 2026, following earlier endorsements by the AU Executive Council. The AMI, a key component of the African Union's financial framework, is set to pave the way for the establishment of the African Central Bank, which will be located in Abuja.

Cardoso hailed the approval as a landmark achievement in advancing Africa's financial integration efforts and enhancing Nigeria's status within the continent. He noted that this decision is a significant milestone not only for financial cooperation among African nations but also for bolstering Nigeria's influence in Africa's evolving financial landscape. By participating in the AMI, Nigeria is taking a proactive role in shaping the future of financial governance in the region, indicative of its leadership aspirations.

This collaboration signals a commitment to fostering a more unified financial infrastructure across Africa, aiming towards greater economic stability and resilience. It showcases Nigeria's strategic endeavors to collaborate on continental monetary policies, ultimately contributing to a more integrated African economy. Such steps are essential for addressing challenges like currency volatility and economic disparities among African countries, thus promoting collective growth and development across the continent.