A Step Ahead

It is now a matter of weeks. The West Africa single currency known as the ECO will go into circulation. On July 4, 2024, Finance Ministers and Central Bank Governors from the 15 Economic Community of West African States (ECOWAS) met in Abuja (Nigeria) for the 92nd Ordinary Session of the Council of Ministers to discuss the practical arrangements for the introduction of the ECO. During last Thursday’s meeting, the initiative envisioned to propel economic growth and development throughout the West African sub-region, received a major boost with the endorsement of the project by Nigeria.
Last week’s gathering that brought together key players instrumental in making the vision a reality has been highly lauded. The meeting, did not only mark a significant milestone on the path towards realizing the ambitious goal, but also paved the way for laying the groundwork for a more integrated economic future for the fifteen ECOWAS member States.
The vision for the ECO extends beyond a mere currency.  It aspires to become a cornerstone of economic integration, streamlining trade and bolstering monetary stability across the region. To set the ball rolling, the single currency, which is part of the features in the three-in-one identity cards planned by the Natio...