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Nigeria intensifies push to host AU Monetary Institute, signals readiness at Spring Meetings
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Nigeria has intensified its bid to host the African Union’s African Monetary Institute (AMI), with the Federal Ministry of Finance leading coordinated efforts to secure the institution ahead of its planned 2026 operationalisation.
The renewed push was articulated on the sidelines of the IMF/World Bank Spring Meetings in Washington D.C., where Nigeria is advancing its case as a credible host for the continental institution central to Africa’s monetary integration agenda.
Speaking through the Permanent Secretary of the Ministry, Mr. Raymond Omachi, the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, underscored the country’s full political and institutional backing for the initiative. He stated that Nigeria has moved beyond policy commitments to concrete delivery, with the necessary infrastructure and administrative arrangements already in place.
The Ministry emphasised that hosting the AMI aligns with Nigeria’s broader economic strategy of positioning Abuja as a hub for continental financial coordination. It noted that the institute represents a critical step toward deeper monetary cooperation, improved macroeconomic convergence, and a more integrated African financial system.
Earlier, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, had reaffirmed Nigeria’s readiness through his representative, the Deputy Governor, Economic Policy, Mr. Muhammad Abdullahi. He indicated that a dedicated office facility has already been secured in Abuja and made available for inspection, reflecting the country’s preparedness to meet host country obligations.
According to the Ministry, Nigeria remains actively engaged with the African Union and is prepared to conclude all required agreements to ensure a seamless take-off of the institute within the stipulated timeline.
The African Monetary Institute, approved in February, is designed to strengthen policy coordination, stabilise exchange rate frameworks, and lay the groundwork for eventual monetary unification across the continent.
Senior continental stakeholders at the meetings reinforced the significance of the initiative. The African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Francisca Tatchouop Belobe, described the institute as a pivotal step toward a single African currency and deeper economic integration.
Similarly, Chief Economist and Vice President of the African Development Bank, Kevin Urama, noted that the institute would strengthen financial stability, improve debt sustainability, and address structural constraints posed by multiple currencies across the continent.
Nigeria’s engagement at the Spring Meetings reflects a deliberate effort to translate continental commitments into operational outcomes, with the Federal Ministry of Finance driving alignment across policy, infrastructure, and diplomatic channels.
The Defence Headquarters has clarified the recent public discussions surrounding the neutralisation of a prominent terrorist commander, Abu-Bilal Al-Minuki.
A collaborative operation with the United States Africa Command on May 16, 2026, led to the killing of Bilal Al-Minuki.
Following the development, certain media outlets referenced a similar operation from 2024, which involved the elimination of a terrorist commander with the same name.
This has understandably raised questions regarding the identity of the individual who was recently neutralised.
In a statement signed by Somalia Uba, Director of Defence Information, the DHQ said: “It is crucial to note that in the North East region and throughout the Lake Chad Basin, the use of similar or identical names, aliases and nom de guerres is prevalent among ISWAP and Boko Haram terrorists.
“This practice is a deliberate part of their indoctrination strategy, aimed at obscuring identities. This fact has been corroborated over the years during counter-terrorism operations in Northeast Nigeria.
“The Abu-Bilal Al-Minuki who was eliminated on May 16, 2026, has been positively identified through human intelligence and technical surveillance as a senior global operative within the Islamic State network, possessing direct connections to international terrorist coordination, funding and operations across the Sahel. Thus, there is no ambiguity regarding his identity.”
The statement added that the strike represents a significant achievement in the country’s counter-terrorism initiatives.
It said the Armed Forces of Nigeria, in collaboration with the United States, remain dedicated to dismantling terrorist networks and will continue to disseminate verified information through official channels.
It called on the general public and the media to rely solely on authorised sources to prevent confusion arising from coincidental name similarities.
Three aspirants of the All Progressives Congress, APC, who were anointed as consensus candidates by Governor Lucky Aiyedatiwa of Ondo State for House of Representatives seats have been disqualified by the party.
The three aspirants endorsed by Aiyedatiwa, who have been screened out, were identified as Tajudeen Adefisoye (Idanre/Ifedore federal constituency), Victor Ategbole (Akoko South-East/South-West federal constituency) and Samuel Arowele (Owo/Ose federal constituency).
Others not cleared along with the governor’s preferred aspirants are Seun Ajongbolo (Akoko South-East/South-West federal constituency), Morufu Ibrahim, Oyeniyi Oseni ((Akoko North-East/North-West) and Olaleye Adedipe (Akoko North-East/North-West).
With the reasons for the disqualification of the aspirants not revealed in a statement issued on Saturday by the National Publicity Secretary of the party, Felix Morka, some aspirants in the state have kicked and condemned the endorsement of the anointed aspirants.
Meanwhile, there was large turnout of APC members on Saturday during the direct primaries conducted across the 203 wards of the state.
In Akur metropolis, party members arrived at the designated wards in their numbers around 8:00 am with the officials of the party doing a headcount of everyone.
At Wards 4, 5, and 8, members of the party were seen queuing behind the poster of the aspirants they are supporting.
Meanwhile, there was an uproar in some of the wards as party faithful lamented that electoral officials were not on the ground to take record of the exercise.
Six suspected Islamic State West Africa Province members, including a bomb expert, were killed early Friday when an improvised explosive device detonated prematurely in Marte Local Government Area.
Security sources told Zagazola Makama that the blast occurred around 7:00 a.m. on May 16, 2026, at Jubilaram while the group was assembling the device. The team was led by Abu Umar, identified as a bomb expert, who died in the explosion along with five other militants. Three others were reportedly injured.
Intelligence assessments say the deceased were part of ISWAP’s IED cell operating along the Marte–Kerenoa–Wulgo axis in the Lake Chad Basin. The explosion destroyed the site, located between Arinna Maimasallaci and Arinna Ciki, and is expected to temporarily disrupt the group’s bomb-making operations in the area.
Military sources said the incident could weaken ISWAP’s capability along key routes in the Marte axis. Authorities are considering follow-up air and ground operations to exploit the disruption.
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