ECOWAS Reinforces Commitment to Staff Welfare at 38th Annual General Meeting of the Staff Mutual Credit Union
By Raymond Enoch
In a bit to demonstrate support for its personnel amidst the challenges of evolving regional dynamics, the ECOWAS Commission has reaffirmed its commitment to the financial wellbeing and stability of its staff at the 38th Annual General Meeting (AGM) of the ECOWAS Staff Mutual Credit Union (ESMCU) held on March 27, 2025.
The event, which took place at the ECOWAS Commission headquarters in Abuja, brought together institutional leaders, staff members, and key stakeholders in a collaborative effort to navigate the region’s evolving geopolitical and economic landscape.
H.E. Dr. Omar Alieu Touray, President of the ECOWAS Commission, delivered a compelling address on behalf of the management, stressing the Union’s crucial role in enhancing staff welfare and financial resilience.
Acknowledging the economic challenges faced by the region, including the recent withdrawal of three Member States, Dr. Touray emphasized that the Commission is fully committed to strengthening partnerships with the Credit Union to safeguard the financial interests of staff. “In these times of economic volatility, it is paramount that we preserve institutional cohesion and continue to ensure that our staff benefit from solid investment returns and consistent dividend distributions,” he stated.
Mr. Jimmy Ife-Ilori, President of the ECOWAS Staff Mutual Credit Union, also addressed the AGM, outlining new initiatives aimed at enhancing financial flexibility for members. These initiatives include the introduction of multilingual digital platforms, harmonized service charges across all ECOWAS languages, and savings options in multiple currencies such as US dollars and CFA francs. Ife-Ilori emphasized the Union’s commitment to inclusivity, especially in addressing the needs of retired staff. He added that concrete proposals for improving post-retirement welfare would be finalized by the next quarter.
The event also featured a report by the Auditor General of ECOWAS Institutions, who provided an independent review of the Union’s financial performance for the year ending December 31, 2024. Representatives from BBC Professional Chartered Accountants delivered a thorough audit, affirming the Union’s continued financial health.
In a symbolic gesture of unity and shared responsibility, the AGM concluded with a participatory session, allowing members to provide feedback on the Union’s priorities and suggest measures for improving welfare mechanisms moving forward. The General Secretary of the Union presented the annual financial and operational report, emphasizing the strategic importance of the Credit Union in promoting financial independence, institutional stability, and regional integration.
As ECOWAS faces new geopolitical realities and complex financial challenges, the 38th AGM marked a pivotal moment in the Union’s ongoing efforts to safeguard its workforce’s welfare. With continued focus on collaboration, inclusivity, and innovation, the ECOWAS Staff Mutual Credit Union remains a vital force in the development of both the institution and the broader region.
