The Governors of Central Banks of five counties in Lagos, Nigeria and the eventual ratifications founded the West African Clearing house (WACH) in March 1975 following an agreement by the governments of those countries. The Countries are Nigeria, Ghana, Liberia, Gambia and Sierra Leone. The membership of the organization has now increased to more than double of its initial figure. The major aim and objective of forming the organization is to enhance the cooperation of members in the area of monetary transactions on international basis. The organization has since served as the clearing for the members in the sub region. The West African Clearing House (WACH) is still in existence till today
West African Clearing house (WACH)
Filed under: Business, Multilateral Institutions