Nigeria has intensified efforts to become the host nation of the African Monetary Institute (AMI), a newly adopted African Union body designed to advance macroeconomic convergence and lay the groundwork for continental financial integration, including an eventual single African currency. On the sidelines of the IMF/World Bank Spring Meetings in Washington DC, Central Bank of Nigeria Governor Olayemi Cardoso and Finance Minister Olawale Edun pledged full political, institutional, and logistical support, confirming that a dedicated office facility in Abuja has already been made available for AU inspection. The AMI, approved by AU heads of state in February 2026 and scheduled to begin operations in September 2026, is widely seen as a critical first step toward a more resilient African financial architecture, with backing from the African Development Bank, which describes the institute as long overdue and a cornerstone of the continent's new development financing framework.