THE IMPLICATION OF COMMON CURRENCY FOR WEST AFRICAN COUNTRIES
TABLE OF CONTENTS
CHAPTER ONE
Introduction 1
1.1 Background of the study 1
1.2 Statement of the problem 4
1.3 Purpose of the study 5
1.4 Research questions 6
1.5 Significance of the study 6
1.6 Scope and limitation of the study 7
reference 9
CHAPTER TWO
Literature review 10
Introduction 10
West African Countires – ECOWAs 12
Problem of ECOWAs 17
West African Currency Board (WACB) 18
West African Currency Board operation 20
The concept – common currency 21
Global common currency 23
The Euro – Dollar 23
The need for global common currency 24
Management, headquarters and mode of operation of West African Common Currency 31
The prospect o common currency for West African 33
The problems facing the establishment of common currency for Africa. 35
References 39
CHAPTER THREE
Research methodology
Method of investigation 42
Instrument of data collection 42
Primary sources of data 43
Secondary sources of data 43
Population and determination of sample size 44
Validity and reliability of research instrument 46
CHAPTER FOUR
Data presentation and analysis 47
Data analysis techniques 47
Analysis of questionnaires 48
CHAPTER FIVE
Summary of findings, recommendations and conclusion
Summary of findings 65
Recommendations 66
Conclusion 68
Bibliography 69
Appendix 73
PROPOSAL
This project research is primarily aimed at dealing with the implications of a common currency for West African countries. As the world is geared towards globalization, West African countries deemed it very imperative to adopt the use of common currency in the sub-region just like their European or Francophone counterparts. The central focus of this research is to know the extent to which the ECOWAS member states have gone in establishing a common currency for West African, to find out if the introduction of West African common currency will enhance economic growth and development in the sub-region; to examine some policy measures introduced to boost the adoption of a west African common currency. To achieve these, the researcher made use of both primary and secondary data questionnaire were extensively distributed to the officials of CBN (Enugu zonal office), First Bank Plc (zonal office Enugu) and NACIMA also in Enugu. Based on the objectives of the study, the findings reveal that the extent to which the ECOWAs member states have gone in establishing a common currency for west Africa is not impressive nor encouraging.
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