African Central Bank

The African Central Bank (ACB) is one of the original five financial institutions and specialized agencies of the African Union. Over time, it will take over responsibilities of the African Monetary Fund. Its proposed headquarter is in Abuja (Nigeria).

When it is fully implemented, the ACB will be the sole issuer of the African single currency (the "afro" or "afriq"), it will become the banker of the African Government, it will be the banker to Africa's private and public banking institutions, it will regulate and supervise the African banking industry, and it will set the official interest and exchange rates; all in conjunction with the African Government's administration.

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