Organogram & Departments
Every organisation is made up of different Departments. Each Departments contributes to the effective functioning of the day-to-day businesses and activities of the Institute. The Departments have various employees with different expertise and knowledge area which are galvanized together to pursue and further the overall goals of the Institute through the application of thier skills and talents.
LEGAL SERVICES DEPARTMENT
The Legal Department acts as legal advisor to the West African Monetary Institute (WAMI) and the West African Monetary Zone (WAMZ). The Department is responsible for the preparation of the legal instruments necessary for the actualization of the monetary union. Read More
INTERNAL AUDIT DEPARTMENT
Internal Audit plays a significant role in assisting the Committee of Governors (CoG) and Director General in the achievement of the Institute's aims and objectives. The main role of Internal Audit is to provide independent and objective assurane, designed to add value and improve operations. It ensures that management establish and maintain sound internal control processes and good governance environment in the Institute. The Internal Auditors also assist managemnet by providing consulting services to help review specific issues and concerns that are better addressed through an advisory type engagement.
The internal auditing process provides oversight to obtain reasonable assurance regarding Management's assertions that objectives are achieved for effectiveness and efficiency of operations, protection of assets, reliability of financial information, and compliance with laws and regulations.
The purpose, authority and responsibility of internal audit activity at the West African Monetary Institute (WAMI) are set out in its Charter.
MULTILATERAL SURVEILLANCE & TRADE DEPARTMENT
The Multilateral Surveillance Department develops the mechanism for efficient and timely surveillance of the macroeconomic performance of WAMZ Member States. The Department also monitors and reports periodically on macroeconomic developments in the WAMZ, including early warning signals where there are adverse developments. It also collaborates with other departments in the discharge of its mandate and coordinates the functions of desk officers assigned to each Member State.
The Trade Unit asesses the extent of trade integration in the WAMZ and efforts of member countries in achieving trade integration in ECOWAS, including assessment of level of trade facilitation infrastructure in the WAMZ: customs procedures, transportation, telecommunication, energy, and transit routes. Also, promote compliance by member countries with ECOWAS trade-related protocols and policies for a deeper free trade area in the WAMZ towards the WAMZ monetary integration process.
RESEARCH AND STATISTICS DEPARTMENT
The objective of the Department is to provide proactive support to the Institute’s work programme. The Department is made up of two (2) divisions, namely: Research and Policy Analysis Division and the Statistics Division.
The core functions of the department are to: conduct empirical proactive research on contemporary issues of relevance to the WAMZ programme; carry out analysis and synthesis of macroeconomic policies in the WAMZ Member States; harmonize fiscal and monetary policies in the WAMZ; develop the monetary policy framework and strategy for the West African Central Bank (WACB); and carry out the production of the Institute’s statutory publications.
The objectives of the Statistics unit are to ensure the harmonization of macroeconomic statistics for convergence surveillance; and the development of the statistical architecture that will support the common monetary policy operations of the proposed West African Central Bank (WACB).
FINANCIAL INTEGRATION DEPARTMENT
Operationalize and issue the Eco currency, ensure financial sector integration and the use of WAMZ national currencies in bilateral intra-regional trade financing. To articulate the framework for the introduction of the Eco, foreign exchange management of the zone and reserve management.
The Payments System unit aims to establish a safe and efficient payments system, promote the development of the payments system of the WAMZ, and financial sector integration in the WAMZ. The division also manages the AfDB sponsored $30 million WAMZ Payments Systems project in 4 beneficiary countries: The Gambia, Guinea, Sierra Leone, and Liberia.
CORPORATE SERVICES DEPARTMENT
Manage the human and financial resources of the Institute in order to ensure the right environment for the effective discharge of the mandate of WAMI. The Department is made up of two (3) divisions, Finance Division, Administration Division and Information Communication & Technology Division.
Efficiently manage the Institute’s financial resources as well as the WACB and SCF funds, maintain an adequate system for keeping financial records and preparing the financial statements and other financial reports for decision making.
To provide personnel, administrative services and logistics support for the Institute’s activities.
The ICT division aims at facilitating the work of all other Departments of the Institute. It is expected to acquire and provide support for all types of hardware and software tools that may be required for achieving the Institute’s goals efficiently. To this end, the Department provides and ensures support for a cost-effective access to the Internet for services like Net-Browsing Messaging and, not least, Web-page maintenance of the Institute’s web-site.