THE ROLE OF NIGERIA IN ECOWAS CURRENCY CONVERGENCE: PROSPECTS AND CHALLENGES

Abstract

The study examines the prospects and challenges of Nigeria’s role in ECOWAS currency convergence. The study used both primary and secondary data. The primary data was the interview, while the secondary data were the confidential documents of ECOWAS on currency convergence, ECOWAS annual reports and published literature. The data were analyzed using thematic analysis. The findings of the study show that Nigeria have high prospect in ECOWAS currency convergence but her domestic challenges need to be addressed to enjoy the benefits of the prospect. It was concluded that the kind of energy and support on the side of Nigeria towards the realization of the ECOWAS passport and successful military operations within the region to strengthen democracy is much needed in the pursuit of the ECOWAS currency convergence. The study recommends that Nigeria should address her domestic challenges such as economic crises, security crises, and other challenges to be fit to help the Commission actualize the currency convergence in line with the new target of 2027.