Economic and Financial Review


Central Bank of Nigeria


Monetary Integration, Financial Integration, ECOWAS


The paper examines the problems of monetary and financial integration in the ECOWAS sub-region. It traces the origins of these problems to the post-colonial era when sentimental attachment to issues of sovereignty, development of national currencies and the imposition of payments restrictions took their roots. Given the background of these problems, the paper makes a number of recommendations, such as the need to adopt a common currency and more realistic exchange rates, for forging greater monetary co-operation in the sub-region.

Author Bio

The author is a Deputy Director of Research in the Central Bank of Nigeria

Publication Title

CBN Economic and Financial Review





Recommended Citation

Omoruyi, S. E. (1986). Problems of Monetary and Financial Integration in ECOWAS. CBN Economic and Financial Review. 24(2), 26-32.



To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.