ECOWAS to introduce single currency by 2020 – Ekweremadu
On February 20, 2012 · In News Tweet
BY TONY EDIKE
ENUGU—THE Economic Community of West African States, ECOWAS, is to introduce a single currency in the sub-region by 2020, while it will become effective in English speaking countries in 2015.

Speaker of the ECOWAS Parliament, Senator Ike Ekweremadu, made this known at a dinner organized for members of the Administration, Finance and Budget Committee of the organisation after their one week meeting/workshop in Enugu weekend.

Ekweremadu, who is also the Deputy President of the Nigerian Senate said his tenure as speaker would see the parliament performing all its legislative functions to the fullest and taking the sub- region to the next level.

In his words: “Our parliament will henceforth screen the list of Commissioners for the Commissions, scrutinize and pass budgets as well as make laws that would transform the sub-region.”

He also said ECOWAS had transformed from being a committee of states to becoming a committee of the people, adding that it was for this reason that the meeting/workshop was drafted to hold in other places other than state capitals as was the practice in the past.

In his speech, Chairman of the Committee on Administration, Finance and Budget of the parliament, Alhaji Farouk Lawan, paid glowing tributes to the speaker of the parliament and called on members to support him to achieve all the laudable dreams he had for sub-region.

In his remarks, the fourth deputy speaker of the parliament, Michael Nyaunu, thanked the speaker, government and people of Enugu State for the hospitality extended to them during their one-week stay in the state; describing the people of the state as peaceful, warm and friendly.

On February 20, 2012 · In News Tweet
BY TONY EDIKE
ENUGU—THE Economic Community of West African States, ECOWAS, is to introduce a single currency in the sub-region by 2020, while it will become effective in English speaking countries in 2015.

Speaker of the ECOWAS Parliament, Senator Ike Ekweremadu, made this known at a dinner organized for members of the Administration, Finance and Budget Committee of the organisation after their one week meeting/workshop in Enugu weekend.

Ekweremadu, who is also the Deputy President of the Nigerian Senate said his tenure as speaker would see the parliament performing all its legislative functions to the fullest and taking the sub- region to the next level.

In his words: “Our parliament will henceforth screen the list of Commissioners for the Commissions, scrutinize and pass budgets as well as make laws that would transform the sub-region.”

He also said ECOWAS had transformed from being a committee of states to becoming a committee of the people, adding that it was for this reason that the meeting/workshop was drafted to hold in other places other than state capitals as was the practice in the past.

In his speech, Chairman of the Committee on Administration, Finance and Budget of the parliament, Alhaji Farouk Lawan, paid glowing tributes to the speaker of the parliament and called on members to support him to achieve all the laudable dreams he had for sub-region.

In his remarks, the fourth deputy speaker of the parliament, Michael Nyaunu, thanked the speaker, government and people of Enugu State for the hospitality extended to them during their one-week stay in the state; describing the people of the state as peaceful, warm and friendly.

Would be a good move.

even after Nigeria splits hopefully by 2015, it would probably be a good idea to maintain a common currency

Would be a good move.

even after Nigeria splits hopefully by 2015, it would probably be a good idea to maintain a common currency

do u think biafra would accept that.
NO  they wount, is just like asking u.k punds to join with euro currency.
i have a dream[b] BIAFRA[/b] will be a great nation

Have they considered the effect of the euro on the European economy? Bad move if each country will keep its own sovereignty.

considering what little Greece is doing to EU, West Africa won't survive the downfall of Big Brother Nigeria should our oil dependent economy collapse. There are lots of work to be done.

ECOWAS follow follow.
Cripple wey never crawl, im wan run marathon.

the new world order in action , then we would global domination, easy control of our government , resource and our daily activities , the globalist agenda to control and dominate the world , just as its happening in EURO, SOON AFRICA ,THEN ASIA . you think is nice no funny at all the total freedom arrest

Choi, One Currency. The end of the world is coming the bible prophesied about this one currency

ECOWAS follow follow.
Cripple wey never crawl, im wan run marathon.

no mind them , them think say currency be same thing with that passport wey dem dey change all the tym

dont think its a good idea

it would not work.

CAPITAL HELL TO THE F NO

What?

How many ECOWAS nations have a booming wealthy economy?

soma042:

do u think biafra would accept that.
NO  they wount, is just like asking u.k punds to join with euro currency.
i have a dream[b] BIAFRA[/b] will be a great nation

If it is economically advantageous, then yes Biafra would.

Nobody cuts off their nose to spite their face. Nobody intelligent, least ways.

Its a long way from now and it has so many economic problems, poor countries in the community will make it difficult.

So that when the Greece of Africa start messing up, every body will start crying like in Europe?

Can't they learn from the EU? Even people wey better pass them and dey 1000 years ahead of them failed. Foolish people

okay. end of the world like expected,

They better not try it. Can't our incompetent African leaders learn from EU's mistake? Once that happens, it will be easier for the west to control the west African region. I pray this plan of theirs to have one currency dies a shameful death.

Bad idea. Let the dream die before it become reality. Euro zone is not finding it funny at all

Anti christ is the father of all this globalization ideals

Is the country even good? For me, am praying for anything change from the status quo. Am tired of Nigeria.

A impending disaster in every ramification. I am pretty sure the IMF's dirty hands are behind this. Look at the Euro Zone crisis and tell me why any sane country would want to join a currency block? So Nigeria will be expected to bail out Togo? Hahaha! Total disaster!

ekpriobong:

Is the country even good? For me, am praying for anything change from the status quo. Am tired of Nigeria.

we alll are.

Mr Speaker, please, u and your fellow ECOWAS parliamentarians should engage experts on this issue, because it is first and foremost an economic issue before being a political one.

Now I want to ask: If we are adopting a common currency (ostensibly for the purpose of encouraging intra-regional trade), what exactly are we trading with each other? In a sub-region where virtually every country depends on the export of commodities, only countries with reasonable manufacturing sector (such as Ghana) stand to benefit. How does it benefit a country like Nigeria, with our obsessive dependence on oil? How many ECOWAS countries have the spending power to buy our oil? Have we worked on harmonising our trade laws and policies? What about the transport infrastructure to link the various countries? How do we address the language dichotomy between Anglophone, Francophone and the Lusophone ECOWAS country (Guinea Bissau)?

I strongly suspect that this policy has not been properly thought through. We cannot afford to copy and paste a system in use elsewhere simply because it sounds nice. We have to develop our unique solutions. Work on engendering a sense of togetherness, remove trade barriers and improve transport infrastructure first. A common currency is not the answer.

The African Union should have a common currency. Gaddaffi was working on this called the African Dinar. Too bad he was assassinated, what a coincidence,

East Africa's COMESA and Southern Africa's SADc are better positioned to integrate their economies compared to a loosely knit ECOWAS. We have too many regional issues to even contemplate that idea in the next 8 years. It is quite ridiculous to consider that option.

Intra African trade is below 10% with m sot of the regional trade going on in the east and the south. Most West African states are way behind in terms of democratic initiatives that will faciliate trade and as a bloc we virtually produce nothing to exchange with each other that is of significant value add from the primary/ raw material stage.

this is going to be very difficult for Africa going by what Greece is suffering now. which African country will agree to cut-down on their own expenses to leverage others (like our senators, house of reps and presidency.
let ekweremadu think of harmonizing trade and education in west africa.
ps,

might overshoot deadline but will work sometime soon, then sooner or later europe and north america will work on theirs too and little chunks will become one, ive read this in the bible

Pls aint this set of leaders c wat happening in the eurozone,single currency double wahala

This one currency will bring the whole world to a big economic mess which only one man will solve which is the Anti Christ, then people will start calling him the messiah. A lot of mysteries in the bible. GOD SAVE US

Will all these dumb Nigerians stop spouting this nonsense Anti-Christ one-currency rubbish?!!! Where in the Bible have they found any reference to this?