Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reaffirmed Nigeria’s commitment to implementing a single currency for the Economic Community of West African States (ECOWAS). The proposed currency, known as the ECO, is seen as a key initiative for fostering economic growth and development in the region.
In a statement by the finance ministry’s spokesman, Mohammed Manga, Edun emphasized the importance of the ECO during a virtual high-level committee meeting on Thursday. The meeting included key stakeholders from the Central Bank of Nigeria (CBN), the finance ministers of Cape Verde, Cote d’Ivoire, and Ghana, as well as other distinguished representatives.
Edun stated, “Nigeria is committed to the successful implementation of the single currency, which aims to promote economic integration, facilitate trade, and enhance monetary stability among the fifteen member ECOWAS states.”
The ECO is expected to strengthen economic ties and support regional economic objectives, enhancing monetary cooperation and stability across West Africa.
