Nigeria, Ghana disagree on single currency for ECOWAS

Nigeria and Ghana have taken different positions on the introduction of a single currency for the Economic Community of West African States (ECOWAS).
Both countries failed to agree on the initiative at the meeting of the Presidential Task Force on the ECOWAS single currency programme, which was held in Accra n Saturday.
Nana Akufo-Addo, Ghanaian President, argued that member states should ensure that the single currency be introduced by 2020. He stated that ECOWAS was blessed with abundant human and material resources, hence having a common currency would speed up stronger commercial ties with accompanying benefits.
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) who represented Nigeria at the meeting, cautioned against a hasty move to introduce a single currency for West Africa.
According to him, ECOWAS heads of government have not properly analysed a comprehensive picture of the state of preparedness of individual countries for monetary integration by 2020.

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