Which of the following statement is TRUE about ECOWAS?

A. The aim of ECOWAS is to ensure economic stability
B. Bigger state in the community dominates the small state
C. Members of the ECOWAS community can form cartel and create monopolies
D. English is the only official language of ECOWAS

Correct Answer:

Option C – Members of the ECOWAS community can form cartel and create monopolies

Explanation

The Economic Community of West African States (ECOWAS) is a regional organization of 15 West African countries established on 28 May 1975. Its main goal is the promotion of economic integration among its members. Indeed, ECOWAS is one the five regional pillars of the African Economic Community (AEC). ECOWAS has three official languages: English, French, and Portuguese. Members producing the same or identical goods can form cartel or monopolies and obtain better bargaining or deals from other countries outside its membership