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Basic texts and milestones



Texts governing BCEAO
  • The Treaty establishing the West African Monetary Union (WAMU)
      signed on May 12, 1962
      entered into force on November 2, 1962
      revised on November 14, 1973
  • The Statutes of the Central Bank of West African States
    The creation of the common Central Bank is provided for in Title V of the Treaty establishing WAMU (Articles 15 to 21). The Statutes of the BCEAO are appended to the Treaty. They are composed of 70 Articles which notably pertain to the constitution, capital, legal status, operations and administration of BCEAO, and also to the various provisions relating to accounts, exemptions from taxation, examination and approval of the accounts, the determination and distribution of profits.
  • The Agreement on Cooperation between the French Republic and the member Republics of the West African Monetary Union concluded on December 4, 1973.
    An amendment to this Agreement on cooperation was signed between WAMU member States and the French Republic on May 29, 1984.
  • The Convention on an Operations Account concluded on December 4, 1973 between the French Republic and the West African Monetary Union.

Milestones in the life of BCEAO
DATES
EVENTS
April 4,1959Transformation of the "Institut d'Emission de l'Afrique Occidentale Française et du Togo" (The Central Bank of French West Africa and Togo) into the Central Bank of West African States
May 12, 1962Signing of the Treaty establishing the West African Monetary Union - WAMU
November 2, 1962Entry into effect of the Treaty establishing WAMU
1962Creation of the new BCEAO and adoption of its Statutes
September 28, 1962Appointement of Mr. Robert JULIENNE as Director General of BCEAO
November 27, 1963Adhesion of Togo
Novembre 14, 1973Signing of the new Treaty establishing WAMU
November 14, 1973Creation of the West African Development Bank - WADB
December 4, 1973Signing of the new Agreement on Cooperation and of the new Convention on an Operations Account between the French Republic and the Member Republics of WAMU
December 4, 1973Signing of the Statutes of WADB
1973Withdrawal of Mauritania
December 15, 1974Appointement of Mr. Abdoulaye Fadiga as Governor of BCEAO
February 10, 1975Oath taking and official installation of Governor Abdoulaye FADIGA
August 5, 1977Creation of the West African Centre for Banking Studies - COFEB
June 1978Transfer of the Headquarters of BCEAO from Paris to Dakar
May 26, 1979Inauguration of the premises of the Head Office in Dakar
1982Celebration of the 20th anniversary of the West African Monetary Union.
June 1984Adhesion of Mali
1987Celebration of WAMU's 25th anniversary.
Octobre 11, 1988Death of Governor Abdoulaye FADIGA
October 28, 1988Appointement of Mr. Alassane Dramane OUATTARA as Governor of BCEAO
December 22, 1988Oath taking of Governor OUATTARA
October 2, 1989Monetary and Credit Policy Reform
November 7, 1990Appointement of Governor Alassane Dramane OUATTARA as Prime Minister of the Republic of Côte d'Ivoire
December 4, 1990Appointement of Mr. Charles Konan BANNY as Interim Governor of BCEAO
November 30, 1992Celebration of the 30th anniversary of the West African Monetary Union
August 2, 1993Suspension of the repurchase of BCEAO banknotes
December 22, 1993Appointement of Mr. Charles Konan BANNY as Governor of BCEAO, as from January 1, 1994
January 10, 1994Signing of the Treaty establishing the West African Economic and Monetary Union - WAEMU
January 12, 1994Change in the parity of the CFA Franc
March 31, 1994Oath taking of Governor BANNY
August 1, 1994Entry into effect of the Treaty establishing WAEMU
January 27, 1995Installation in Ouagadougou of the WAEMU Court of Justice
January 30, 1995Installation of the WAEMU Commission
February 22, 1995Official transfer to the WAEMU Commission of all the relevant documents pertaining to the economic integration project
July 3-5, 1995Preliminary drafts for the Centralisation of Payment Incidents within WAMU (Seminar)
September 29, 1995Draft Uniform Bill on payment instruments in WAMU
January 1, 1996Implementation of the WAMU Accounting and Banking Plan
1996Preliminary work for the adoption of a single accounting system referred to as " West African Accounting System" (SYSCOA)
May 2, 1997Adhesion of Guinea Bissau to WAMU