Olatoke, OlukayodeEkeh, Jeremiah Okwudili2020-05-142020-05-1420152476-8510http://hdl.handle.net/123456789/3902The European Free Trade Association (EFTA) as an economic association formed by Australia, Denmark, Norway, Portugal, Sweden, Switzerland and United Kingdom like any other of its kind has contributed immensely to economic libration of Europe. the paper examines the history, membership and operation of EFTA. Study also examines the impact o EFTA on the economy of Europe and the world. The paper analyze the role of EFTA on monetary integration in Africa. The study relies on primary and secondary sources of information. The primary sources include constitutional documents, the Constitution, statutes and subsidiary legislation, judicial preceedents, international conventions and treaties. The secondary sources of information include books, journals and internet materials. The information obtained as subjected to content analysis. The paper found that increasing transparency and interaction with the public is a major challenge to EFTA.enEconomyEconomic liberationMonetary integrationAssociationArticle