Nigeria’s Minister of Finance, Wale Edun, has reaffirmed the country’s commitment to implementing the Economic Community of West African States (ECOWAS) single currency, the ECO.
This comes despite recent setbacks, with the convergence rate among member states falling to 29.2% in 2023, significantly lower than the target for adoption.
Edun’s statement, made during a virtual high-level committee meeting on Friday, indicates a renewed push for the ECO, with the meeting focusing on practical arrangements for introducing the currency, suggesting a shift towards concrete action.
