The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso announced that the African Union (AU) has approved Nigeria's permanent membership in the Institute's Board of Directors African Monetary Institute (AMI). This structure precedes the creation of the African Central Bank (BCA) and a single currency for the continent.

At the 39th African Union (AU) Summit in In Addis Ababa, the heads of state took a decision full of symbols. He is the installation of the African Monetary Institute (IMA) in Nigeria. True beating heart of the future economic union of the continent, this institution will act as a precursor before the creation of the Central Bank African (BCA). In a statement, the governor of the CBN indicated that the award of a permanent seat on the IMA Council confirms the preponderant place of Nigeria in the financial architecture of the continent. For him, “this decision history marks a key step in financial integration and reinforces the strategic position of Nigeria”.

The aim of creating the IMA in Abuja is to harmonize the economic policies of the Member States, strengthening cooperation between central banks and lay the technical foundations of this famous currency unique.

The procedures for installing the IMA in the Nigerian capitals have already been sealed off, and its entry into office is now imminent. Nigeria is thus becoming the pillar of this titanic project aimed at to unify a continent of more than 1.4 billion inhabitants under one currency banner.