ECOWAS set to unveil single currency ECO

Finance   ministers  and   central  bank  governors  of  the  Economic Community of   15  West African   states  have   pushed  ahead  with  plans to   introduce  the   Single  Currency  Initiative,  known as  ECO.| 
 
   This   initiative,  which  is  designed  to   boost  economic growth and development   across  the West African sub-region,   has  been  supported  by  Nigeria.|
 
   The single currency is part of the features   of  the three-in-one   identity  documents  planned by the National Identity Management   Commission,  which  is  scheduled  for   launch  in  August.| 
 
   A statement from the Ministry of Finance signed   on  Friday  by the Director   of  Press, Mohammed Manga,  said Nigeria's Minister of Finance and Coordinating Minister   for  Economic  Affairs,  Mr.| Wale   Edun  stressed  the   crucial  role the   OCE  will play in   promoting  "economic growth and development in the region,"   and  further   emphasized  Nigeria's unwavering commitment to its successful   implementation.


The statement noted that participants went through the preparations for the single currency's introduction, 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."
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This   week's  meeting  brought together key players instrumental in   realising  this   vision,  including the Minister of Finance of Cape Verde,   Mr.  |  Olavo Correia, the Minister of Finance and   Economy  of   Côte  d'Ivoire,  Mr.  |  Adama Coulibaly, and the  Minister of   Finance  of  Ghana,  Mr.  |  Mohammed Amin   Adam,  among  other representatives.| 
 
   These figures,   together  with others, formed a collaborative force dedicated to shaping the future of   the  West African   economy.|
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   The  statement  said:  "The  meeting culminated in a   new  sense of purpose   around  the   launch  of  the  ECO.|  Participants  shared   the  belief that the single currency   has  enormous  potential to reshape the   region's  economic landscape   and  pave  the way   to  a more prosperous future for all member   states."|


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