CBN Announces Vacancy For WAMA Director-General, Emphasizes Expertise In Economics And Finance

The Central Bank of Nigeria (CBN) has announced a search for a qualified candidate to fill the position of director-general at the West African Monetary Agency (WAMA). This was disclosed in a statement published on the CBN’s official website on Tuesday.

WAMA, an autonomous agency under the Economic Community of West African States (ECOWAS), was established in 1996 following the transformation of the West African Clearing House (WACH). The agency’s primary responsibilities include: promoting monetary cooperation among ECOWAS member states, harmonising and coordinating monetary and fiscal policies, and overseeing the implementation of the ECOWAS Monetary Cooperation Program. WAMA also plays a pivotal role in initiating and promoting policies related to monetary integration within the sub-region.

The agency is supervised by the Committee of Governors of the Central Banks of the Member States, which include Benin, Burkina Faso, Cabo Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. The director-general, based in Freetown, Sierra Leone, will be responsible for managing WAMA’s day-to-day operations and ensuring the successful execution of its strategic goals as defined by the Committee of Governors.

The CBN’s statement emphasised that the ideal candidate for this prestigious role must be highly qualified and experienced, with a strong background in economics or finance. Applicants must be nationals of one of the 15 ECOWAS member countries and be no older than 55 years as of July 31, 2024. Additionally, candidates should possess at least 20 years of relevant professional experience, including 10 years in senior management positions, preferably within a multilateral institution, public organisation, or central bank.

Fluency in either English or French is required, along with a deep understanding of macroeconomic and monetary issues, particularly in the context of regional integration and monetary policies. The director-general will be expected to coordinate WAMA’s services and activities, represent the agency in its dealings with third parties, and manage relations with regional and international stakeholders.

The position is for a four-year term, renewable once, and represents a critical leadership role in advancing monetary integration efforts across West Africa