ECOWAS Meeting: Member nations are not ready for monetary union – Buhari

President Muhammadu Buhari has advised member nations of the Economic Community of West African States (ECOWAS), to tread with caution.
Buhari, who attended the common currency meeting of the West African sub-region, disclosed his advise on official twitter account on Tuesday, urging members to be careful about the drive for a single regional currency by 2020.

He said:

Today in Niamey I urged ECOWAS countries to proceed with caution regarding the push for a single regional currency by 2020.

— Muhammadu Buhari (@MBuhari) October 24, 2017

He added that Nigeria is concerned that “ECOWAS member states are not yet fully prepared for a monetary union”.

He said:

Our view is that ECOWAS member states are not yet fully prepared for a monetary union.This has always been one of Nigeria’s primary concerns

— Muhammadu Buhari (@MBuhari) October 24, 2017

President Buhari also stated that there is a lot of work to be done, maintaining that ECOWAS must not lower its standards in a bid to achieve monetary union.