History Facts

Facts

The West African Monetary Institute (WAMI):
The West African Monetary Institute (WAMI) - http://www.wami-imao.org/ is saddled with the responsibility of facilitating the realization of the single monetary union of the WAMZ. The institute is located in Ghana.

The Cowry:
The Cowry has, for centuries, served our people as an important form of currency. In 1860 the following system was in use: 40 Cowries formed a "String"; 50 Strings made a "head" and 10 heads comprised a "bag". In Lagos in 1865 one bag of 20,000 shells was exchanged for one or two English Pounds.

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