Jonathan Tasks ECOWAS On Single Currency Treaty

President Goodluck Jonathan has urged members of the Economic Community of West African States (ECOWAS) to promptly ratify and domesticate all relevant treaties and statutes which would lead to the successful launch of the West African Monetary Zone (WAMZ) on January 1, 2015.
Jonathan stated this yesterday in Abuja through Vice President Namadi Sambo at the 31st Convergence Council Meeting of the WAMZ.
The President, who appreciated the successes recorded towards the launch of the monetary union, however, lamented the consistent underperformance of some member states in reducing inflation and fiscal deficit, which, he said, were critical to the successful launch and sustenance of the union.
“Our present position can be likened to the final lap in a relay race. This is where the race is won and lost.  We can choose to either win or lose, but I will rather be on the winning team.  All that is required now is total commitment, dedication and focus.
Member countries must, as a matter of urgency, ratify and domesticate all the relevant WAMZ statutes and treaties.  On our part, the Nigerian Government will not only continue to play its leadership role, but will also lead by example,” he said.
Present at the occasion were the minister of state for finance, Dr. Yarima Ngama, governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, representatives of the ECOWAS Commission and that of the outgoing chairman of Committee of Governors, and Dr. J. Mills, Governor of the Central Bank of Liberia.