The Implication Of Common Currency For West African Countries

INTRODUCTION BACKGROUND OF THE STUDY  The actual study for establishment of a common currency for west African state (ECOWAS) and drafting of a programme of monetary and fiscal polices of members states was between 1985 and 1986 period (Arah, 2001: 29). In response to the study, the sub-region monetary co-operation programme involving short and long term measures were seen to be economic flight (Ogwuma 1998:3). The highest level of economic integration is the monetary union, which involves the integration of trade and micro-economic policies and establishment of a common central bank…