Olusegun Obasanjo, The EX-President of Nigeria , at the ongoing 24th Annual General Meeting of the African Export-Import Bank (Afreximbank) in Kigali, Rwanda, on Thursday delivered a speech titled: “CAN REGIONAL ECONOMIC COMMUNITIES WORK FOR AFRICA: LESSONS FROM A FOUNDING FATHER.” Where he called on leaders of the Economic Community of West African States (ECOWAS) to agree on common currency to boost the regional trade.

Obasanjo  said that the issue of common currency was getting delayed because the regional leaders had put forward “ECO” as a name for the currency but wondered why it had not been adopted.

According to him, the currency is required to move the current level of regional trade from 25 per cent to nothing less than 50 per cent.

He said the various currency zones like the Naira zone and the Cedi zone, among others should not be allowed to mitigate the flow of trade within the region.

He blamed too many internal conflicts and changes in policies, among others, as some of the challenges facing the region.

Obasanjo, however, commends ECOWAS countries for their ability to resolve the issues on their own, adding that ECOWAS on its own had resolved conflicts in Liberia, Sierria Leone and The Gambia.

He said in the case of Gambia, ECOWAS leaders agreed that a military option should be adopted but without firing a bullet.

“I was sure the ousted president Yahya Jammeh will leave, but when he delayed his leaving, ECOWAS leaders met and it was agreed that a military option should be adopted.

“The tactics worked, but when the countries leaders were saying the ousted president Yahya Jammeh had left the country with huge sum of money. I told them to allow him go with the money so far he allows peace to reign in the country,” he said.

He said the region had been the most democratic region going by free and fair elections conducted in the countries.

NAN