ECOWAS set to unveil single currency, ECO after Nigeria endorsement

The ECOWAS currency is aspired to become a cornerstone of economic integration, streamlining trade and bolstering monetary stability across the region.

Plans have reached the advanced stage to launch the Economic Community of West African States (ECOWAS) single currency initiative, otherwise known as ECO.

This was after the Nigerian government endorsed the initiative, which is envisioned to propel growth and development throughout the West African sub-region.

The ECOWAS single currency has also been incorporated as a feature in the three-in-one identity card planned by the National Identity Management Commission (NIMC) and set for roll-out in August.

Finance Ministers and Central Bank Governors from the 15 ECOWAS member states agreed on modalities for the initiative at the 92nd Ordinary Session of the ECOWAS Council of Ministers held in Abuja during the week.

By Nurudeen Shotayo.

Full story at Pulse NG.