ECOWAS finance Ministers, Central Bank Governors meet to discuss single currency ‘ECO’
Finance Ministers and Central Bank Governors from across the Economic Community of West African States (ECOWAS) convened in Abuja to tackle the possibility of launching the single currency, the ECO.
This initiative, which is expected to propel economic growth and development throughout the West African sub-region, has been endorsed by Nigeria’s federal government.
In a statement from the Nigeria’s ministry of finance, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, noted the critical role the ECO will play in fostering “economic growth and development in the region>
He emphasizing Nigeria’s unwavering commitment to its successful implementation.
Alongside the Central Bank of Nigeria, representatives included the Minister of Finance of Cape Verde, Olavo Correia, the Minister of Finance and Economic Affairs of Cote d’Ivoire, Adama Coulibaly and the Ghanaian Minister of Finance, Mohammed Amin Adam.
Participants assessed the preparations for the single currency’s introduction, laying the groundwork for a more integrated economic future for the fifteen ECOWAS member states.
According to them, the meeting marks a significant milestone on the path towards realizing this ambitious goal.
