West African Clearing House (WACH)
Chambre de compensation de l'Afrique de l'Ouest (CCAO)
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Founded
1975-06-25 Lagos Nigeria
History
25 Jun 1975, Lagos (Nigeria), by West African Sub-regional Committee of D-XD4491 - Association of African Central Banks (AACB), following signature and ratification of Articles of Agreement, 14 Mar 1975, Lagos, by Governors of 7 Central Banks representing 12 countries of the sub-region: Benin, Côte d'Ivoire, Gambia, Ghana, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo and Upper Volta (now Burkina Faso). Subsequently also covered Cape Verde, Guinea, Guinea-Bissau and Mauritania. Commenced channelling transactions, Jul 1976. Ceased to exist, 1996, when transformed into F-XF5070 - West African Monetary Agency (WAMA), following proposals, 1992, of F-XD3462 - Economic Community of West African States (ECOWAS).
Aims
Promote the use of members' currencies for sub-regional trade and other transactions; bring about savings in the use of members' foreign reserves; encourage members to liberalize trade among their respective countries and promote monetary cooperation and consultation among them.
Events
22 past events available with paid subscription only.Activities
Available with paid subscription only.Structure
Exchange and Clearing Committee (supreme governing body, meeting once a year), consists of governors of member banks. Sub-Committee (meeting twice a year), comprises representatives of each Central Bank.
Languages
Available with paid subscription only.Staff
Available with paid subscription only.Finance
Available with paid subscription only.Relations with Inter-Governmental Organizations
Available with paid subscription only.Relations with Non-Governmental Organizations
Available with paid subscription only.Publications
Available with paid subscription only.Members
Available with paid subscription only.Type I Classification
Available with paid subscription only.Type II Classification
Available with paid subscription only.Subjects *
Available with paid subscription only.UN Sustainable Development Goals **
UIA Org ID
XF4799
** UN SDGs are linked to the subject classification.
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