Nigeria is the only country in the region that has met the “primary convergence criteria”.
The Deputy Governor of the Central Bank of Nigeria, CBN, on Economic Policies, Sarah Alade, said Nigeria meets all the criteria to adopt the ECOWAS single currency.
Ms. Alade made this known at the 37th Technical Committee meeting of the West African Monetary Zones in Abuja.
She said Nigeria is the only country in the region that has met the “primary convergence criteria” which were set for the member-states in 2013. There are four primary criteria including the attainment of single-digit inflation rate at the end of each year and fiscal deficit of not more than four per cent of Gross Domestic Product, GDP.
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