While some of them told the News Agency of Nigeria (NAN) that it was a welcome development, others cautioned against its implementation.

Mr Mubo Oladigun, a financial expert, said the proposal though a welcome development, could face lots of challenges in its implementation.

He said one such challenges was the differences in political systems and culture among African countries.

He, therefore, advised African leaders to jettison the idea of single currency and concentrate on delivering on good governance.

Mr Babatunde Johnson, a banker, said that African leaders should not be in a hurry to copy every policy adopted by Europe.

He cautioned that the project worked in Europe did not imply that it would succeed in Africa given the socio-cultural make up of the two continents.

Johnson said African leaders should rather concern themselves with the best way to miximise the human and material potential on the continent to ensure its development.

Mrs Felicia Ikechukwu said the proposal was a welcome development, adding that “it will further unite us as Africans.”

It would be recalled that Mr Anthony Maruping, AU Commissioner for Economic Affairs on June 12 in Johannesburg said African leaders were contemplating adopting a common currency and passport.

“The single currency, passport is aimed at connecting Africa through world class infrastructure with a concerted push to finance and implement major projects”, he was quoted as saying.