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Nigeria Tows the Line of Economic Failure as Ekweremadu Announces One Ecowas Currency

By on February 20, 2012

Despite the economic problems that are plaguing Europe, the only regional bloc in the world to have adopted a single currency and which is now feeling the hazardous effects on its economy, Nigerian Deputy Senate President, Ike Ekweremadu has announced plans for West Africa to forge a single currency block.

Ekweremadu who was speaking in his capacity as the Speaker of the Economic Community of West African States (ECOWAS) parliament spoke concerning this at a dinner for ECOWAS committee members in Enugu over the weekend.

He said ECOWAS will introduce a single currency for English speaking states (including Nigeria and Ghana) by 2015 and for the entire region by 2020.

This revelation comes at a time where countries in Europe are threatening to leave their economic community due to the failure of its purpose. Countries like the United Kingdom have also boasted of their wisdom in staying away from such an economic nuisance and yet Nigerian lawmakers are seen to be championing a failed theory and practice.

With the level of corruption, poverty and failure of leadership centered around only one currency, one begins to wonder if the problems will not be simply magnified should such a travesty materialize.

4 Comments

  1. Anonymous

    February 20, 2012 at 1:29 pm

    THIS IS WRONG .

    CLEAN YOUR SYSTEM.

    GHANA IS COMPETING WITH NIGERI A.
    LET HER SUFFER WELL A BIT AND OTHER COUNTRIES AFTER THIS STOPAGE FOR FREE OIL.

    WHEN THEY STOP ABUSINGNIGERIAN IMAGE . THEN WE COME BACK AND TAP THEM ON BACK LITTLE BROTHERS .
    WELCOME

  2. realest1s

    February 21, 2012 at 11:27 am

    Oh my God ! who are our leaders serving ? definitely not the nigerian people

  3. Reflection99.1

    March 12, 2012 at 1:22 pm

    Our law makers most times either lacks the research dept required to articulate projects/bills or are in a hurry to stamp their feet/authority as having achieved. A Policy of this nature should undergo rigorous research, taking into cognizance the success or failure of such projects elsewhere.

    I rather see this as misplaced priority over our national needs and interest. You can hardly listen to debate on the floor of the house that is research based and  supported with facts and figures. All we see and hear is emotional laden contributions. How long shall we trade the part of hurry.

  4. Reflection99.1

    March 12, 2012 at 1:22 pm

    Our law makers most times either lacks the research dept required to articulate projects/bills or are in a hurry to stamp their feet/authority as having achieved. A Policy of this nature should undergo rigorous research, taking into cognizance the success or failure of such projects elsewhere.

    I rather see this as misplaced priority over our national needs and interest. You can hardly listen to debate on the floor of the house that is research based and  supported with facts and figures. All we see and hear is emotional laden contributions. How long shall we trade the part of hurry.