Buhari urges closer collaboration against economic challenges in West Africa

Abuja, May 24, 2022 (NAN) President Muhammadu Buhari has called on executives of banking institutions in West Africa to forge a closer collaboration to tackle economic challenges confronting the sub-region.

The president made the call when he received a delegation from the West African Bankers Association (WABA), led by its President, Thierno Seydou Nourou Sy, at the State House, Abuja, on Tuesday.

The association, founded in 1981, brings together over 250 commercial banks and 15 institutions from across West Africa, and that for many centuries, African countries have traded with one another without a formalized and structured system.

He, however, noted that over time, global trade had become more complex and organized.

The Nigerian leader expressed confidence that the rollout of the African Continental Free Trade Area would be a turning-point in how African countries trade with one other.

While commenting on ongoing efforts to synchronise monetary and fiscal policies through WABA, the president challenged the association to work towards finding a common ground, in spite of the unique macro-economic challenges that each member-state faces ,he urged Nigeria to set up a training academy for the industry.