The Association of African Central Banks (AACB) presently consists of 40 member countries' central banks.  The idea of an AACB was first introduced on 25 May 1963, at the Summit Conference of African Heads of State and Government held in Addis Ababa, Ethiopia. In this regard, African Heads of State and Government unanimously agreed to set up a preparatory Economic Committee to study a large range of monetary and financial issues, in collaboration with Governments and in consultation with the Economic Commission for Africa (ECA).In this connection, the first meeting of Governors of African Central Banks was held in Addis Ababa, on 15-22 February 1965, essentially to consider a mechanism for co-operation and to discuss ideas for setting up its organs. The meeting also agreed to set up sub-regional Committees (as defined by ECA) which would be composed of members of the Association or their representatives.The Association, as of today, has an Assembly of Governors (the governing body of which are members all African Central Banks Governors), a Bureau (composed of the Chairperson and the Vice-Chairperson of the Association and Chairpersons of sub-regional Committees), sub-regional Committees (composed of Governors of Central Banks of the five (5) sub-regions as defined by the African Union).AACB has a lean Secretariat established in office space and facilities provided by the Headquarters of the Banque Centrale des Etats de l’Afrique de l’Ouest, in Dakar, Senegal.