The Economic Community of West African States (ECOWAS) Commission held a technical meeting in Lomé, Togo, from February 17 to 19, 2026. The session brought together the Technical Committee of the West African Securities Regulators Association (WASRA/ARMVMAO). This gathering followed recommendations made at an earlier meeting of capital market experts from member states in Abuja, Nigeria, in October 2025.
Mr. Peter Oluonye, Acting Director of Private Sector and representing Dr. Kalilou Sylla, Commissioner for Economic Affairs and Agriculture, stated: “The purpose of the meeting was to receive and consolidate Member States’ final comments on the establishment of WASRA/ARMVMAO as the Regional Capital Market Regulatory Authority, as envisaged under Article 53(3)(d) of the Revised ECOWAS Treaty.”
A virtual session with the Capital Issues Committee took place on February 19, where participants reviewed an updated version of the WASRA/ARMVMAO Charter. According to organizers, these discussions are intended to lead to submission of the Charter to the ECOWAS Convergence Council for consideration. If approved there, it will be recommended to the Council of Ministers for adoption and would formalize WASRA/ARMVMAO as a regulatory body for regional capital market integration.
ECOWAS aims to foster cooperation among its member states by harmonizing policies in areas such as trade and social development in order to improve living standards and promote stability across West Africa (official website). The Commission is led by a president who is supported by a vice president and commissioners (official website). In recent years, ECOWAS has worked on making its activities more accessible through initiatives like launching a multilingual website (official website).
Programs developed by ECOWAS currently target twelve countries within West Africa but are designed with broader regional ambitions (official website). The organization influences policy by aligning economic and legal systems among members through mechanisms such as common external tariffs (official website).
The institutionalization of WASRA/ARMVMAO would mark another step toward deeper financial integration within West Africa.