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It is the common issuing institution of the member States of the West African Monetary Union (WAMU). At the time of its founding on May 12, 1962, its membership comprised the Republics of Côte d’Ivoire, Dahomey, Mali, Niger, Mauritania, Senegal, Togo and Upper Volta.
Currently, there are eight (08) member States in the Monetary Union: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. In addition to centralizing the cash reserves of the Union, the main mandates of the Central Bank are: to issue currency, to manage monetary policy, to organize and monitor banking activities and to provide assistance for the WAMU member States.