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West African Institute for Financial and Economic Management (WAIFEM) | |||||
| Buildng capacity for macroeconomic and financial sector management
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Our Mission & Vision
Mission: To develop on a sustainable basis, competencies in the fields of macroeconomic, debt and financial sector management among the staff of central banks, ministries of finance and economic planning as well as other public and private sector institutions with core economic management responsibilities.
Vision: To be among the best capacity building institutions in macroeconomic, debt and Financial management in the world.
Establishment of The Institute
The West African Institute for Financial and Economic Management (WAIFEM) was established on July 22, 1996 by the Governors of the Central Banks of The Gambia, Ghana, Liberia, Nigeria and Sierra Leone.
The Institute became operational in January 1997 with diplomatic status under the Headquarters Agreement with the Government of the Federal Republic of Nigeria on June 19, 1998.
Governance
The governance framework of WAIFEM consists of a Board of Governors, a Technical Committee and the management cadre headed by a Director General. At the apex of the organogram of WAIFEM is the Board of Governors, composed of the governors of the member central banks. The Board appoints its chairman in rotation among its members for a term of two years. It is responsible for the formulation of the overall policy direction of the Institute and the appointment of the Director General who is in charge of the day-to-day management of the Institute.
The Board meets at least once a year to approve the annual budget and training programmes and appoint the external auditors. It also receives the annual audited financial statements and reports of the Institute as well as undertakes other actions that it deems necessary to promote the purpose of the institution.
Management and Staff
The day-to-day management of WAIFEM rests with the Director General who is the chief executive officer of the Institute and answerable to the Board. He is assisted in this task by departmental directors.
The staff of the Institute consists of professional staff and service persons.
The Institute currently consists of the following departments:
- Debt Management Department.
- Financial Sector Management Department.
- Macroeconomic Management Department
- Finance and Administration Department.
The Director General and the Directors of the departments constitute the Management Staff of the Institute.
The current Director General is Professor Akpan H. Ekpo.