Nigeria and other ECOWAS member states have said that a deadline for an
adoption of a single currency for the region is fast approaching. This
decision is to strengthen the sub-regional economic integration and
development and could also be implemented through the economic policies
of member states.
This was one of the main issues discussed at the technical meeting of
the ECOWAS Macroeconomic Policy Committee on Multilateral Surveillance
in Abuja on Thursday.
However, the depreciation of the naira and other economic challenges
affecting member states have slowed down ECOWAS economic integration
and the adoption of a single currency.
The out-going Chairperson of the committee, Ms Ommy Sar Ndaiye, said
that it was pertinent for member states to develop strategies to address
the prevailing economic challenges.