Tag: ECOWAS

  • ‘ECOWAS committed to addressing security challenges’

    ECOWAS has said it was committed to addressing problems of insecurity affecting the stability and economic development of the region.

    The ECOWAS President, Mr. Kadre Ouedraogo, said this in Abuja when he addressed journalists during the second consultative meeting on the ECOWAS Sahel Strategy.

    He said that ECOWAS intended to achieve this by strengthening collaboration with its partners, member states and the international community.

    “Drawing lessons from the crisis in the Northern part of Mali, the authority instructed the Commission to come up with a comprehensive strategy in order to accelerate the development of the Sahel region.

    “So, this strategy comprises measures to accelerate economic development of this region but also measures to strengthen security.

    “We have many threats in our region; be it terrorist attacks, drug trafficking, human trafficking; ECOWAS is determined to fight against all these threats.

    “This is the reason we have adopted this strategy for Sahel region that we are going to share with all our partners, member states and the international community.

    “And I must say we are encouraged by the support we are getting from the United Nations,’’ the News Agency of Nigeria quoted Ouedrago as saying to journalists at the briefing.

    He said the growing instability in the Sahel required the formulation of a regional response mechanism that was effective and sustainable.

  • Boko Haram: ECOWAS heads of state to meet

    Boko Haram: ECOWAS heads of state to meet

    The Economic Committee on West African States (ECOWAS) has demanded that Heads of State in the region convene immediately to resolve the Boko Haram insurgency.

    The regional body plans to mandate its Committee on Peace, Security and Resolution of Conflicts to interface with states in the Northeast and the human rights community to verify reports on abuses.

    The parliament said that West African heads of states have to tackle the insurgent’s heads on because if Nigeria goes up, the entire sub region goes up and these Heads of States do not have to like Nigeria to be part of the solution.

    Executive Chairman, trade, customs and free movement of persons and Member Representing Bauchi Federal Constituency, Aliyu Gebi stated this, when he visited protesters against the abduction of over 200 girls of the Government Secondary School Chibok, in Abuja.

    Gebi said that the government had been sitting on its hands and would not have reacted to the abduction if the group and Nigerians had not protested.

    His words, “ECOWAS is no longer complacent, the parliament is no longer complacent, we are demanding that the committee on heads of states and government must convene immediately to resolve this issue, because if Nigeria goes up, then the entire sub-continent goes up, it is a necessary evil, even if they don’t like us, they have to be a part of the solution.

    “We were lucky enough today to take charge of a narrative at the ECOWAS parliament and we asked critical questions on why the ECOWAS parliament has not been as proactive as expected, why AU is silent, why we had to wait for friends across the Atlantic to come over to our own aid.

    “We are glad, you started what you started, because if you had not, i assure you, government will be sitting on their hands and nothing would have been done, classical example is, up till tomorrow, nobody is talking about the boys that were slaughtered, it was swept under the carpet, these are not the only girls that Boko Haram took, they have substantially more and it is not just young people.

    “And by virtue of the fact that the ECOWAS parliament is a combination of different countries that have expertise in the kind of situation from Liberia, Serra Leon, Mali etc. Part of the resolve is that we are going to mandate the committee on peace, security  and resolution of conflicts to interface with several components of government like the Borno State government etc.

    “The committee on human rights to interface with amnesty so that we can verify the reports on abuse etc, what we actually wanted was an adhoc committee so that we can draw up the membership from within, for example you have a committee of six people and if they are incompetent and can’t comprehend the problem then really parliament cannot act on the issue unless they bring it up to be debated.

    Gebi also said that, “ I personally do not feel there is any price that is too high to pay for the safe return of these girls and other prisoners, i have six daughters and one son, and no what i will do if any of them were to be kidnapped.

    “I assure you government is doing all that it can, government is in the process of recalibrating itself in line with international best practices to ensure that this crises is brought to an end, not only for the getting these girls back by any means necessary but to ensure that these kind of circumstance is never repeated.

    “For certain groups or government to say, X is off the table, today we are all Nigerians and from Chibok, there is nothing that should be off the table this is what you must insist, and also the failure is not only at the top, the failure started at the grassroot, if i as a representative of my people don’t know the plight of my people, how can i expect the President to know their plight, i have a councillor, Chairman, then me, then Senator before the problem becomes a federal problem.

    “I will charge you to start pushing for a registration of every student in Northern Nigeria to begin with, using biometrics, pictures, next of kins, pictures of their homes, a guardian has to sign off and several date basis so that such situation can never arise, so that at any point in  time, is someone gets missing and for instance the data base in Borno is corrupted, the data base in Abakaliki for example will be there to back it up, that has to be done immediately because if we rely on government, i think the government is a bit distracted at the moment to do this things.

    “So we have to look at it in that direction, also the complacency, wickedness and share evil characters of our Northern governors is what brought us here, if we want to change, change is not at the centre, we can keep blaming the centre because we have also been distracted and affected by certain people, change must come from the state level, our governors must be held accountable because they are the chief security officers of our states.

    “When it is election time, they know how to harass us the opposition, they know how to get the military, everybody to rig for them but when it comes to our security, they don’t know how, they blame Goodluck Ebele Jonathan, he is not the only person that is culpable, we are all part of the government, and we should be held responsible and accountable.”

    End.

     

     

  • Chibok: ECOWAS vows to tackle Boko Haram

    Chibok: ECOWAS vows to tackle Boko Haram

    The Economic Community of West African States (ECOWAS) on Monday vowed to invoke necessary sections of its laws including military might to fight Boko Haram.

    Boko Haram now ravaging parts of the sub-region, especially Northern Nigeria abducted over 200 schools girls from Government Girls Secondary School, Chibok, Borno State, over a month ago.

    The girls are still in captivity.

    Ghanaian President, John Mahama, spoke when he declared open the 2014 First Ordinary Session of ECOWAS Parliament in Abuja.

    In their separate addresses, Senate President, David Mark and his Deputy,  Ike Ekweremadu, said Nigeria would continue to collaborate with the regional body to tackle the insurgency and insecurity.

    Ekweremadu, specifically commended the Paris Summit, aimed at tackling the Boko Haram insurgency.

    Mahama, who spoke through the Vice President of Ghana, Kwesi Amissah-Arthur, condemned in strong terms the activities of Boko Haram and promised that the Sub-regional body would do everything possible to fight the insurgents.

    The Chief Press Secretary to the Senate President, Paul Mumeh, in a statement in Abuja quoted the Ghanaian leader as saying “We condemn in the strongest of terms, the continuous killing of innocent Nigerians in parts of the North.

    “We shall invoke relevant sections of our laws to fight this crime. The recent abduction of over 200 schoolgirls in Chibok is reprehensible and so disheartening. No decent society will accept this.”

    Mahama urged ECOWAS Parliament to cooperate and support the governments of the sub region in the fight against insurgency.

    Mark, who represented President Goodluck Jonathan, told the gathering that the Boko Haram activities have negatively affected the economic and socio- political life of Nigerians.

    Mark said: “Terrorism and insurgency are alien to our culture. We must therefore stand united against it in all its ramifications.

    “We will continue to seek regional and international collaboration in the fight against these crimes which by their nature are transnational.”

     

     

  • UN, ECOWAS, others back Nigeria against terror

    UN, ECOWAS, others back Nigeria against terror

    President Goodluck Jonathan met yesterday the United States Ambassador to Nigeria, Mr. James Entwistle to discuss modalities for the actualisation of the offer made by President Barrack Obama to assist Nigeria in rescuing the school girls abducted from Chibok, Borno State.

    They met, according to a statement by the Special Adviser on Media and Publicity, Dr. Reuben Abati, on the sidelines of the ongoing World Economic Forum on Africa as a follow-up to talks held on Wednesday between Mr. Entwistle and Nigerian security officials on the United States offer of assistance.

    Jonathan reiterated Nigeria’s appreciation of the United States offer to deploy security personnel and assets to work with their Nigerian counterparts in the search and rescue operation, which was conveyed to him on Tuesday by the U.S. Secretary of State, Mr. John Kerry.

    He told Mr. Entwistle and other delegations which met separately with him at the venue of the World Economic Forum that the much greater support which Nigeria was receiving from the United States and other members of the international community in the aftermath of the Chibok abductions, will certainly help the country to rapidly overcome the Boko Haram insurgency.

    Others received by President Jonathan include the President of Ghana, Mr. John Mahama, and the President of the ECOWAS Commission, Mr. Kadré Désiré Ouédraogo, who brought him a message of solidarity from ECOWAS Heads of State and Government.

    President Mahama informed President Jonathan that to support Nigeria’s efforts to rescue the abducted girls and defeat terrorism, ECOWAS leaders have decided to invoke the community’s protocols on counter-terrorism.

    The Ghanaian leader said that a meeting of Heads of Intelligence Services of ECOWAS member-countries will hold in Accra next week to work out a new framework for intelligence sharing in support of the effort to eradicate the threat of terrorism in Nigeria and the entire West African Sub-Region.

    President Jonathan also had private meetings with Prof. Klaus Schwab, the Founder of the World Economic Forum who said that Nigeria deserved the maximum solidarity of the world at this trying moment.

    He later met with President Jakaya Kikwete of Tanzania, former President Lula Da Silva of Brazil and the Prime Minister of Mali, Mr. Moussa Mara all of who conveyed the solidarity of their governments and people.

    The Secretary-General of the United Nations, Mr. Ban Ki Moon also spoke with President Jonathan on the phone yesterday to convey the sympathy and solidarity of the global community with the government and people of Nigeria.

    Mr. Ban Ki Moon assured President Jonathan that the United Nations was ready to help Nigeria in every possible way to rescue the abducted girls and achieve greater security of lives and property in all parts of the country.

  • Nigeria to host  disaster management

    Nigeria to host disaster management

    The Federal Government, United Nation Office for Disaster Risk Reduction – Regional Office for Africa (UNISDR), Africa Union (AU) and Economic Community of West Africa (ECOWAS) through the National Emergency Management Agency (NEMA) will host the  5th African Regional Platform for Disaster Risk Reduction (DRR) in Abuja, from  13th – 16th May 2014.

    The National Emergency Management Agency NEMA disclosed that the  overall aim of the African Regional Platform is to identify key priorities and commitments for Africa’s position on the  post Hyogo framework for Action (HFA)  2015 and develop a future action plan  focused on building the resilience of African communities in line with sustainable development goals.

    It states that, “Ministers and government officials across Africa will discuss and adopt a draft declaration based on a compilation of recommendation emerging from  the three days of stakeholder deliberation and dialogue.

    “About 500 – 600 Participants are expected to attend the conference from African Countries, intergovernmental regional organizations, bilateral and multilateral donors, United Nations, academic and technical institutions, the International Red Cross and Red Crescent Movement and Non-Government Organizations,local governments, community leaders, parliamentarians, youth, media and the private sector.

    The Secretary to the Government of the Federation, Senator Anyims Pius Anyims will declare the forum open while the Director General of National Emergency Management Agency Mohummed Sani Sidi will be the chief host.

    It  would be recalled that Nigeria was among the 168 countries that  adopted a resolution for the implementation of 10-year International Disaster Risk Strategy known as  the HYOGO FRAMEWORK FOR ACTION (HFA 2010-2015) at the World Conference on Disaster Reduction, in Hyogo, Japan in 2005.

  • Anger over abducted girls

    Anger over abducted girls

    Borno senator: insurgents have married girls

    House summons service chiefs

    Women protest

    ABUJA was yesterday in a foul mood at the National Assembly and on the streets – over the April 15 abduction of school girls and the one-year-old polytechnic teachers’ strike.

    Women, many of them decked in all-black dresses, demanded action on the fate of the 234 girls who were snatched away from their hostels in Chibok, Borno State.

    Senators were locked in a charged session over the abduction by the fundamentalist Boko Haram sect. They unanimously voted for tougher military action against the insurgents whose activities have killed thousands.

    The Senate yesterday urged the Federal Government to seek the assistance of the United Nations and the Economic Community of West African States (ECOWAS) to rescue the girls.

    Besides, senators are to confer with President Goodluck Jonathan to seek ways of curtailing the insurgency.

    These resolution followed a motion entitled: “Abduction of School girls in Chibok, Borno State”, sponsored by Senate Leader Victor Ndoma-Egba and 107 others.

    Some Senators in their contribution blamed the degenerating insurgency on sabotage and collaboration by insiders in the military.

    Others wondered why the President has not deemed it fit to visit Borno State to commiserate with the people and boost the morale of the troops on ground.

    A Senator from the area gave a graphic account of how the terrorists have been moving the girls from camp to camp in the forest since the day they were abducted.

    He named the locations where the girls were being camped.

    He lamented that the military did not act on the intelligence he placed at their disposal that could have facilitated early rescue of the girls.

    In his lead debate, Ndoma-Egba urged the Senate to note with grief the inhuman abduction.

    He told the Upper Chamber, which was just returned from its two-week Easter recess, the incident occurred just when the country was grieving over the rush hour bombing of a bus park in Nyanya near the nation’s capital, Abuja.

    He said when the nation was was trying to come to grips with the bombing that claimed over 75 people and wounded dozens more, the country was struck yet with another devastating blow: the girls’ abduction.

    He recalled that the terrorist broke into the Government Secondary School in Chibok, shot the guards and abducted the pupils, taking them away in trucks into the Sambisa forest, a known hideout of the sect.

    Ndoma-Egba said prior to the abduction, the school was closed down for four weeks due to the deteriorating security situation in the state, but the pupils were recalled to take their final exams in physics.

    He said that the Senate is disappointed that two weeks after their disappearance, the girls’ whereabouts remained unknown.

    The senator noted that about 44 of the girls escaped by jumping from the back of the truck used to ferry them away or by sneaking out of the abductor’s camp.

    According to him, besides the uncertainty, as to the whereabouts and fate of these innocent girls, whose only crime is to go to school, “is the lack of authentic information from the school authorities, the security agencies and their parents as to the exact number of girls that were abducted and the processes leading to same.”

    The lawmaker called on the Senate to be hopeful that the offer of assistance by the United States and Britain to rescue the students would come with all the required technology, including the deployment of the drones which the United States had used to great positive effect in tracking/fighting terrorism elsewhere.

    He, however, said that the Senate was afraid that time was fast running out as the girls’ captors may break them into various hideouts.

    The Senators unanimously resolved to urge the Federal Government and all security agencies to intensify efforts at bringing back the girls.

    They urged the Federal Government and the security agencies to seek assistance of the United Nations, ECOWAS and other countries to rescue the girls.

    They also prayed for the safe release of all the abducted girls and urged the government at all levels to provide adequate security for all schools.

    Senate President David Mark decried the “callous adoption” of the girls and called for full scale military action against the insurgents.

    Mark said it was time to be proactive in attacking the terrorists so much so that it is the insurgents that would beg the nation for dialogue.

    He said the insurgents had touched the “heart of the nation”, with the abduction of the girls.

    Mark said: “The people we are dealing with are not just locals. They are well trained and they know what they want. They are not terrorists, they are insurgents. And all along we have been reacting. Unless we are proactive, we are not going to get anywhere.

    “I have been in the forefront of saying we must go to dialogue with the insurgents, but I think we must take this battle to a level where they also will now call for dialogue.

    “We cannot do this unless the locals on the ground there cooperate with the members of the armed forces. Our armed forces are doing their best.

    “Those who study insurgency and terrorism know that the locals are extremely important because they must work hand-in-hand with the members of the armed forces.

    “This is not a conventional warfare. My prayer is that all hands must be on deck in this war. All of us must begin to appeal to the people in our constituencies.”

    The Senate President urged the Federal Government to ensure that the nation is briefed daily on efforts to rescue the girls.

    He lamented that the kidnap of the 234 girls would dominate the World Economic Forum scheduled to meet in Nigeria soon.

    Said Mark: “I believe that there are external connections because our local terrorists and insurgents cannot do what they are doing. They touch the heart of the nation.

    “There is no nation that would sit down and fold their arms and watch women and children killed at random by any group of people. Unless the local environment is conducive, terrorism and insurgency cannot succeed.

    “But once it takes root, let’s take note it’s not going to wind up tomorrow morning and my worry is that we should not allow it to get to a level where it becomes a permanent feature in this country. Unless we nip it in the bud now, it will get to that level.

    “If we need foreign assistance, the nation should not be ashamed to ask, because the world is such a small global village now that getting assistance for one action or the other is not a shameful thing. It is international cooperation and if we have to, let us go for it.”

    Senators mostly from the affected areas spoke on the insurgency.

    Senator Ahmed Zannah (Borno Central) said even though he had constantly updated the military about the movement of the terrorists who abducted the girls, all his intelligence reports were not acted upon.

    He gave a graphic account of how the insurgents had been moving the girls from one place to another since the abduction.

    Zannah said: “Since the beginning of this siege, I kept mute on this issue as far as press releases and press interviews are concerned.

    “I have been constantly in touch with the security agencies, telling them the developments, the movement of the girls from one place to the other and then the splitting of the girls and eventually the marriage of these girls by the insurgents.

    “What bothers me most is that whenever I inform where these are, after two to three days, they will be moved from that place to another and still, I will go back and inform them that see, this is what is happening.

    “I lost hope two days ago when I found out that some of them were moved to Chad and Cameroon.

    “Actually, some of them move through the Mandara mountain that is in Gwoza and some of them are just a stone throw from their barracks, even now as I am talking to you, in Cameroon because it is in Kolofata, which is in Cameroon about 15 kilometers or even less to the borders because one of the insurgents called somebody in Bama and said I just got married and said I am now settling in Kolofata’.

    “Then three or four days ago, some Fulani men reported that they saw some girls being taken by boats into the Island in Lake Chad and that some of them happened to be between Marte and Mungonu, maybe.

    “Maybe, those ones might still be within Nigeria, but that is the current and new base of the insurgents. They just took over that place less than a week and that village is called Chikungudua. The place is the constituency of Senator Maina Mai’ji Lawan.

    “But I informed the security agents about the situation and from that place, they can just go into the lake and go to either Chad or Cameroon because it is very open, there are no weeds in the lake and so they can go anywhere.

    “They have snatched all the boats around that area, including the one for NNPC, and so they are free to go anywhere without being chased by anybody.

    “There are about 40 islands there and they have ejected most of the occupants of the island and they have occupied the islands.

    “What is most disturbing is that hitherto, Sambisa was their base and is well known to the military and Nigerian security.

    The senator spoke of how he discovered that the terrorists were moving out of Sambisa forest. Even before then, I had been discussing with the military and they said they were going to attack that place, about 15 or 20 days ago, I don’t know what delayed them,” he said, adding:

    “But, eventually when they launched the attack, all the insurgents had already gone out of the place. So, I don’t know what is happening.

    “Even before then, I even told them about the shrubs in Northern Borno where they stayed last year till after the rainy season.

    “Since rainy season is approaching, I told them that these people will leave Sambisa and other areas and go to that shrub but it seems there is no much presence of military around that area up till now and they are now much moving into those shrubs.

    “And when they go in, the shrub has some canopy whereby the ground is empty and you cannot see any human or animal movement under that canopy even with aircraft.

    “It is the same place where they hid last year and came out after the rainy season without any challenge, they came into the hinterland.

    “I don’t know if the military can take very serious and willing action in this matter but if there is no way to fight them, I think we are wasting our time. It all depends on their willingness.

    “I was interviewed by the press on whether if the state of emergency was extended, the military would succeed and I said ‘yes, if there was willingness, they will’.

    He went on: “Their number is not all that much as being touted and without cooperation from certain group of people within the security agencies, there is no way these people will survive like this.

    “But when we talk, they will say we are against them; we are exposing them; we are demoralising their troops. These are the facts.”

    “So, unless there is spirit of seriousness on the part of our military, we have no hope of getting those girls; even if we are going to get them, we are going to get them in trickles; maybe getting two, three, four, and five. They are now scattered. So it is not possible for us to get 50, 60,100 in one particular position. This is the position as at today.”

    Senator Ali Ndume, (Borno South) noted that the girls would have been rescued if the Federal Government is serious and with proper equipment for the military.

    Ndume, who was apparently emotional during his contribution to the debate said: “The 53 girls we have were those that escaped. We have to speak the truth.

    “I am a little bit emotional because you cannot understand what we are going through until you visit these areas. The only place there is relative peace is where there are civilian JTF.

    “The military deployed there are doing their best, but I cannot ask any of them to do more than what they are doing. You need to see their equipment and there is no motivation.

    “Whenever we go there, we buy food. As days go by, most of these girls are divided and forcefully married out. How they do that and where they passed remain a mystery.

    “I appreciate the motion but there is no action. We speak to commanders on ground and their complaints are the same: no motivation.

    “Their number is few and there is no equipment to match their opponents. Every time we budget trillions of naira for defence but I have not seen any new equipment on ground. The armoured vehicles are those of 1950s.”

    Chairman, Senate Committee on Information, Media and Public Affairs, Senator Enyinnaya Abaribe (Abia South), noted that the situation was degenerating as a result of internal sabotage

    Abaribe said: “In what way would somebody get information, give to the security and nothing happens. There must be internal sabotage; we cannot run away from that.

    “While we ponder about this, I joined Nenadi Usman to think about these children and the fact that a few things have happened in the world, people have disappeared and we saw the frantic efforts by those countries to get to the root of the matter to the extent that some people resigned. What manner of ineptitude is this?

    “I don’t want to add to what others have said but I want to say that no matter what happens, the buck lies on someone’s table. We are ill-equipped. Have we motivated our security agents enough?

    “They are doing their best. With all due respect, has the President visited Borno? We want to see our President visit the place and restore confidence in the people. There is no how you can get information from people who feel they are neglected.”

    Senator Mohammed Magoro (Kebbi South) urged the Federal Government to call up reservists to boost the manpower of the military.

    He said: “For Nigeria to win the war against insurgents, we must recall the nation’s military reserves, including retired soldiers if need be. Also, neighbouring countries are aiding insurgents. I stand here to say that they are aiding and abetting what is going in the country. If it means revisiting the budgets, we will do so to ensure that we win this war.”

    Senator Ehigie Uzamere (Edo South) accused local collaborators in the community of aiding and abetting the kidnap of the girls from a predominantly Christian community.

    “We must renegotiate the corporate existence of Nigeria,” he said.

    Senator Ayogu Eze (Enugu North) urged the Federal Government to summon the ambassadors of Chad, Cameroon and Niger to brief her on what their governments are doing in the circumstance.

    Eze added: “Something has gone wrong with professionalism and unless we arrest the drift, these people are not doing enough.”

     

  • Commission to sign technical support  MoU with AU, ECOWAS

    Commission to sign technical support MoU with AU, ECOWAS

    The Independent National Electoral Commission (INEC) is on the verge of signing a Memorandum of Understanding (MoU) with African Union (AU) and Economic Community of West African States (ECOWAS) countries.

    The agreement, which is through The Electoral Institute (TEI), would enable the commission to provide technical assistance to AU and ECOWAS.

    TEI’s Director-General, Prof Abubakar Momoh, spoke yesterday in Abuja on the MoU when he opened a two-day certified trainers’ workshop, organised by TEI and the International Foundation for Electoral Systems (IFES).

    Participants were drawn from different departments of the commission.

    Prof Momoh, according to a report in the INEC bulletin, said the training was the first in a series to put everyone on the same page and ensure that there is a pool of trained and certified personnel who could be called deployed any time.

    The agency chief also affirmed the commission’s confidence in its effort to build capacity and technical skills for its workers to strengthen the electoral process.

    The Country Director of IFES, represented by Deputy Country Director, Mrs Uloma M. Osuala, said the training was the beginning of several courses IFES and TEI would organise to strengthen the electoral process.

  • West African capital markets adopt integration protocols

    West African capital markets adopt integration protocols

    National authorities, capital market regulators and stock exchanges in the West African region have approved the guidelines, processes and procedures for the first phase of the integration of the region’s capital markets.

    The adoption of many resolutions on the capital market integration paved ways for the take-off of the first phase of the integration. At the 4th ordinary meeting of the West African Capital Markets Integration Council (WACMIC) in Abidjan, Cote D’Ivoire, chief executives of capital market regulators and stock exchanges in Nigeria, Ghana, Sierra Leone, Benin, Burkina Faso, Cote d’Ivoire, Guinea, Mali, Niger, Senegal and Togo agreed on the framework for the first phase of the capital market integration. Also at the meeting were the central banks of Guinea and Liberia, ECOWAS Commission and West African Monetary Institute (WAMI).

    The meeting reviewed the recommendations that would enable dealing firms in member states to trade securities and settle in markets other than theirs through local dealing firms in those markets by means of Sponsored Access.

    Members subsequently passed a resolution for the adoption of the sponsored access framework and related agreements to be approved by all member regulators, signaling the commencement of the integration of capital markets in West Africa.

    The sponsored access phase is the first phase of the region’s capital market integration and it is expected to take off in April, this year. Under this phase, brokers within the member countries can trade securities and settle in markets other than theirs, through local brokers in the other member jurisdictions. The interrelationship between the brokers will be guided by memoranda of understanding (MOU), which is duly recognised by each regulator in each WACMI member jurisdiction.

    All national authorities and stock exchanges at the meeting also agreed to ensure that the appropriate processes and systems are put in place in the respective jurisdictions to facilitate the implementation of the sponsored access, thus enabling jurisdictions to launch as they complete their processes and obtain all the requisite approvals.

    The meeting also agreed on the guidelines and procedures for approving applications under the sponsored access framework.

    Besides, the meeting deliberated on the importance of harmonised listing requirements and minimum standards of corporate governance within the region to facilitate the second and third phases of the integration.

    In a communiqué issued after the meeting, members recognized the importance of not only harmonizing minimum listing requirements to ensure that they are at par with international best practices, but also aligning corporate governance standards of listed entities with the Organisation for Economic Cooperation and Development (OECD) principles. To this end, jurisdictions will set minimum requirements which will be enforceable by the regulators.

    The meeting also adopted the guidelines for the issuance of common passports for capital market operators to trade across the region while urging countries without training and certification institutes to immediately come up with some form of acceptable regime for qualifying and admitting brokers in the short term with a view to developing a curriculum for training their operators.

    The “Common passport” is the legal and regulatory framework approved and adopted by WACMIC to allow capital market operators to operate outside their jurisdictions. A “Common Passport” empowers market regulators to mutually recognise an operator registered outside their market and extend them the same rights, privileges and obligations as one of their own.

    The meeting also the need to have a body responsible for ensuring that all training and certifying institutes within the region maintain a harmonized curricula and standardized examination.

     

     

  • ECOWAS leaders endorse economic partnership with EU

    The ECOWAS Authority of Heads of State and Government has endorsed, in principle, the conclusion of the Economic Partnership Agreement (EPA) negotiations with the European Union (EU).

    A statement signed by the ECOWAS spokesperson, Mr Sunny Ugoh, on Monday, said that regional leaders made the endorsement during the 44th Ordinary Summit in Yamoussoukro, Côte d’Ivoire, on March 28.

    It said that the EPA negotiations and the Development Programme (EPADP) were the key issues discussed at the summit.

    The statement said that the meeting recommended that the region’s chief negotiators should take appropriate measures to resolve outstanding technical issues within two months before the signing of the agreement.

    “The (ECOWAS) Authority of Heads of State and Government endorsed the conclusion of the agreement in principle but noted that there are outstanding technical issues.”

    The News Agency of Nigeria (NAN) recalls that the negotiations received a new impetus in October 2013 when regional leaders, after an extraordinary summit in Dakar, urged the parties to demonstrate flexibility.

    It said that both parties had been working over 12 years of negotiations to narrow their differences before signing the agreement which would create a World Trade Organisation (WTO) compliant arrangement.

    It explained that the new arrangement would replace the previous non-reciprocal regime that had guided trade relations between them.

    ”The Yamoussoukro summit commended the Senegalese President, Mr Macky Sall, who was earlier designated to lead the process for the resolution of the outstanding issues being negotiated,” it said.

    The statement said that it welcomed the “participatory, consensual and constructive approach” that characterised the process and “paved the way for the finalisation” of the negotiations with the EU.

  • ECOWAS calls for regional response to stem Ebola

    The ECOWAS Mediation and Security Council have called for regional response in the appropriate management of the outbreak of Ebola haemorrhage fever in Guinea Republic.

    A statement on Friday by the ECOWAS spokesman, Mr. Sunny Ugoh, said that the council made the call at its 31st meeting held in Yamoussoukro, Cote d’Ivoire on March 25.

    The statement said the fever, which had equally affected other neighbouring countries, caused enormous loss of human lives.

    It said that the council considered the epidemic a serious threat to regional security.

    The statement said that council appealed to the international community to assist in the management of the epidemic in the region.

    In that regard, the council requested the President of the Commission, in consultation with the West African Health Organisation, to take relevant actions.

    It said this would be geared toward mobilising stakeholders and the needed resources to stem the epidemic.

    The statement said that the council expressed compassion and solidarity with the republics of Guinea and Liberia, as well as the bereaved families.

    The News Agency of Nigeria (NAN) reports that Ebola is a severe, often-fatal disease in humans and nonhuman primates (monkeys, gorillas and chimpanzees).

    It has appeared periodically since its initial recognition in 1976.