Thursday, 22 February 2018

NIGERIA WARNS ON ECOWAS CURRENCY INTEGRATION.

The Nigerian President, Muhammadu Buhari, has cautioned member countries of the Economic Community of West African States (ECOWAS) against forcing through the planned currency integration in the sub-region by 2020.

President Buhari, who was represented by the Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, issued the warning on Tuesday, February 21, 2018, during the 5th meeting of the Presidential Task Force on ECOWAS Currency Programme in Accra, Ghana, noting that Heads of Government had not properly articulated and analysed a comprehensive picture of the state of preparedness of individual countries for monetary integration by 2020.

He reiterated that the non-preparedness of some member countries, the credibility of the union if anchored on watered down criteria, and the continuing disparities between macro-economic conditions in ECOWAS countries, continued to be major issues of concern that members must examine in order to make progress.

Pres. Buhari further observed that ECOWAS Heads of Government had not been adequately briefed on the full implications of forcing through the integration by 2020, particularly where some countries were not individually ready domestically.




By Eugene Boahene.
Full story at The Breaking Times.



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