ECOWAS Finance Ministers, Central Bank Governors move to introduce ECO

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun on Thursday hosted a virtual high-level committee meeting at the Finance Headquarters, Abuja to discuss the practical arrangements for the introduction of the ECOWAS single currency, known as the ECO.
This is coming with a renewed sense of purpose and commitment to fostering economic growth and development within the West African Sub-Region
A statement by the Director of Information and Public Relations, Mohammed Manga indicated that the meeting brought together key stakeholders, including the Central Bank of Nigeria, the Minister of Finance of Cape Verde, Mr. Olavo Correia, the Minister of Finance and Economic Affairs of Cote d’Ivoire, Mr. Adama Coulibaly, and the Ghanaian Minister of Finance, Mr. Mohammed Amin Adam, as well as other distinguished representatives
According to the statement, the ECO aims to promote economic integration, facilitate trade, and enhance monetary stability among the fifteen member states of the Economic Community of West African States (ECOWAS).

“The session marked a significant step towards the realization of this goal, as participants discussed preparations for the introduction of the single currency.
Edun emphasized the importance of the ECO in fostering economic growth and development in the region and reiterated Nigeria’s commitment to the successful implementation of the single currency.

The meeting concluded with a renewed sense of purpose for the introduction of the ECO, which is expected to have a positive impact on the region’s economic prospects.