African Central Bank Governors have convened in Abuja on Thursday to push for deeper intra-African trade and advocate for reforms to the global financial system, which it believes is skewed against the continent.

According to a statement by the leaders, the meeting, being hosted by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, is part of the African Caucus, an annual gathering that prepares input for the International Monetary Fund (IMF) and World Bank’s annual meetings.

It said the central aim of the meeting, which is taking place from at the Transcorp Hilton Hotel, is to address the imbalance within the global financial architecture.

This structure, according to African economic leaders, favours developed economies at the expense of developing nations, many of which are grappling with significant debt challenges.

“The primary goal of the meeting is to address intra-African trade as a crucial catalyst for sustainable economic growth and to prepare input for the IMF and World Bank’s annual meetings,” the statement read.

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