✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live
SPONSOR AD

ECOWAS finance committee meets over reforms, community levy

The implementation of community levies and reforms in the Economic Community of West African States tops the agenda at the ongoing 35th meeting of the…

The implementation of community levies and reforms in the Economic Community of West African States tops the agenda at the ongoing 35th meeting of the Commission’s Committee on Administration and Finance (AFC).

The Commission had adopted a community levy of 0.5 per cent on all imports into the region rather than the contribution from member states.

However, there are challenges to the implementation of the protocol adopted in 2014.

The meeting, being held from Friday, June 28th to Tuesday, July 2nd, 2024, will examine a series of documents, reports and memoranda from ECOWAS institutions and agencies.

It will also address a comprehensive agenda aimed at advancing the economic and organisational priorities of the West African region.

Another area the committee is expected to discuss is the Commission’s organogram, which has been in use since 2018.

The expected organogram review will touch all ECOWAS institutions including the community court, community parliament and the commission.

The review is expected to take into consideration the recent reduction of the numbers of committees from 15 to 7.

The members have a report of about 100 to 150 pages to consider during the five days.

At the end of the five days, members are expected to adopt the proposal and then pass it to the council of ministers for their perusal and adoption.

In her opening remarks, ECOWAS Commission’s Vice President, Damtien Tchintchibidja, pleaded with member states on the need to adhere to the community protocol, especially the protocol on Community levy.

She said: “I would like to make an urgent appeal to all member states so that they can comply as quickly as possible with the provisions of the protocol relating to community levy.”

She stressed that remittance of community levy will “allow us to ensure the good functioning of institutions and the implementation of projects within the community.”

She also raised the impact the exit of the three countries, Mali, Burkina Faso and Niger Republic will have on the community levy, saying: “I would like to remind you that the meeting of this day is held in a challenging context, characterised by uncertainties on a regional and global level.

“The announced withdrawal of our three member states appeals to us all in more than one way.

“We therefore must put everything in place to safeguard our unity, our secular ties, our spirit of fraternity and solidarity, as a result of an inclusive development,” she emphasised.

Speaking on the importance of the meeting, Tchintchibidja explained, “This is a retreat that would also be a win-win for our institutions in terms of community levy. Regarding the community levy, I would like to remind you that it remains the main source of funds for ECOWAS programmes and activities.”

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.

Do you need your monthly pay in US Dollars? Acquire premium domains for as low as $1500 and have it resold for as much as $17,000 (₦27 million).


Click here to see how Nigerians are making it.