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Nigeria hosts ECOWAS Central Banks Working Group meeting on Single Currency

The Governors of Central Banks of the Economic Community of West African States (ECOWAS), who constitute the Central Banks Working Group on the ECOWAS Single currency, met on Monday in Abuja, to discuss the findings of a study commissioned to address key issues confronting the process leading to the establishment of a momentary union in the ECOWAS Region.The areas of focus, according to a statement by the ECOWAS Commission on Tuesday, are the exchange rate regime, momentary policy framework and the model of the future ECOWAS Central Bank.

Speaking at the meeting, the President of the ECOWAS Commission, Mr. Jean-Claude Kassi Brou, reminded the Central Bank Governors of their commitment to seek consensus on the outcome of the studies.

Brou added that expectations are high within the Community and stressed the need to double their efforts to put in place all the key pillars that are required for the establishment of the monetary union.

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