ECOWAS Single Currency Will Boost West African Economy – Edun

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says Nigeria is committed to the implementation of a single currency for the Economic Community of West African States (ECOWAS).

The minister said the single-currency ECO would foster economic growth and development in the West African region.

According to a statement by finance ministry’s spokesman Mohammed Manga, Edun expressed Nigeria’s commitment to the single currency on Thursday when he hosted a virtual high-level committee meeting in Abuja.

The meeting brought together key stakeholders from the Central Bank of Nigeria (CBN); Minister of Finance of Cape Verde, Mr Olavo Correia; Minister of Finance and Economic Affairs of Cote d’Ivoire, Adama Coulibaly; and the Ghanaian Minister of Finance, Mohammed Amin Adam; as well as other distinguished representatives.

At the meeting, Edun “emphasised the importance of the ECO in fostering economic growth and development in the region and reiterated Nigeria’s commitment to the successful implementation of the single currency”.

The ECO aims to promote economic integration, facilitate trade, and enhance monetary stability among the fifteen member ECOWAS states.