FG Pledges $270m To ECOWAS Security Fund, $80m For Counter-Insurgency

FG Pledges $270m To ECOWAS Security Fund, $80m For Counter-Insurgency

The Federal Government planned to contribute $ 350 m to the ECOWAS Security Fund out of which $ 80m ( over N30 . 5 bn) would be spent on the counter- insurgency campaign in the North -East.

The pledge was made towards the $ 1 bn ECOWAS Regional Security Fund set up in 2019 but the amount so far contributed to the fund could not be confirmed immediately.

The Ghanaian President and Chairman of the ECOWAS Authority, Nana Akufo -Addo disclosed this during the virtual summit of the 58 th ordinary session of the ECOWAS Authority of Heads of State and Government held on Saturday .

He said the FG pledged to contribute $ 100 m in the first instance last year, out of which $ 20 m would go to the regional fund while $ 80 m would be utilised to combat terrorism in the North-East.

Akufo -Addo noted that raising the $ 1 bn fund in support of the 2020 -2024 Anti- Terrorism Action Plan has to be a high priority for the ECOWAS , adding that the body was awaiting confirmation of transfer instructions.

He stated that the West African Economic and Monetary Union countries ( Benin , Burkina Faso, Côte D’ Ivoire, Guinea -Bissau, Mali , Niger, Senegal, and Togo ) had committed to contribute $ 500 m while Nigeria pledged $ 350 m , leaving $ 150 m for the six remaining countries and other sources.

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Legend || CEO Naijaphobia.com.ng, A Native of Osun State , Base in Bariga Lagos state

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