As West African countries continue to dilly-dally on adopting a common currency, a former diplomat has advised President Muhammadu Buhari’s regime to shun the Eco currency and pursue policies that would reflate the naira.

“Increased strengthening of the value of the naira is more important for Nigeria than dissipating energy on floating the Eco for member states of the Economic Community of West African States (ECOWAS).

“Expanding the Nigerian economy is more important and should be non-negotiable because it is in the best interest of the sub-region for Nigeria to be the dominant economy,” the ex-diplomat, Nnamdi Onochie, stated.

In an interview with the News Agency of Nigeria in Abuja on Wednesday, he spoke on the endless controversy of introducing the Eco as a monetary unit for countries in West Africa.

“It is of higher imperative that every effort should be made by Nigeria to continue to expand and grow its economy,” added Mr Onochie.

He accused the French government of thwarting the effort to create a single currency for the ECOWAS region.

According to him, France’s position on the issue has continued to serve the interest of some West African leaders, who do not wish ECOWAS and the African Union well.

Mr Onochie argued that waiting for three additional years or more before introducing the Eco would not hurt the Nigerian economy in any way, noting that a stronger naira would serve Nigeria’s interest better.

The Eco was to be introduced in 2003, but the date was shifted to 2005, then to 2010 and 2014.

In 2009, a council of ministers meeting fixed the Eco commencement date to 2015, but the currency’s adoption failed to materialise yet again.

(NAN)