One of the problems facing the Economic Community of West African States (ECOWAS) is that

One of the problems facing the Economic Community of West African States (ECOWAS) is that its member states do not have a common currency. This lack of a common currency has made trade and economic integration among member states more difficult, as businesses and individuals have to constantly exchange currencies and deal with fluctuating exchange rates. It also makes it more difficult for member states to coordinate their economic policies and implement a common trade policy. A common currency would help to promote regional trade and economic growth, as it would reduce transaction costs and promote stability in the financial system. Despite efforts to create a common currency, such as the introduction of the "ECO" currency in 2020, progress has been slow and some member states have been reluctant to give up their national currencies.