Abuja – The Authority of ECOWAS Heads of State and Government on Saturday adopted ECO as the name of the single currency to be issued in January 2020.

The leaders at their 55th Ordinary Session in Abuja endorsed the name while congratulating the Ministerial Committee on the Single Currency for the considerable progress recorded in the implementation of the revised roadmap.


Nigeria’s Permanent Secretary, Ministry of Foreign Affairs, the Authority instructed the ECOWAS Commission to work in collaboration with West African Monetary Agency.

The leaders also instructed the commission to work with West African Monetary Institute and the central banks to accelerate the implementation of the revised roadmap with regard to the symbol of the single currency.

The Authority also directed the commission and the central banks to accelerate the operation of the Special Fund for financing of programmes in the revised Roadmap for the ECOWAS Single Currency Programme.

“It further directs the commission to ensure implementation of the recommendations of the
meeting of the ministerial committee held in Abidjan on June 17 and June 18 as well as preparation and implementation of the Communication Strategy for the single currency programme.


“The Authority takes note of the 2018 macroeconomic convergence report. It noted the worsening of the macroeconomic convergence and urges member states to do more to improve on their performance in view of the imminent deadline.”

Furthermore, the ECOWAS Chairman President Issoufou Mahamadou said the revised roadmap still stipulated that the single currency would be issued in Jan. 2020.

“We have not changed that but we will continue with assessment between now and then.


“We are of the view that countries that are ready will launch the single currency and countries that are not yet ready will join the programme as they comply with all six convergence criteria.”

He also said that there was “a real firm political will” for the region to hastily achieve the single currency. (NAN)


https://www.vanguardngr.com/2019/06/ecowas-adopts-eco-as-name-of-single-currency/

F
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Happy Sunday To all Nairaland Christians.

The death of Naira in an attempt to be like the Europeans ; Denmark and British realise it and walked away from the deal

ECO BANK comes to mind.


If you wants to convert ur funds( Btc, Pm, fiverr, upwork, PayPal) to ECO or Naira see my signature.

1ECO = $45 Thanks

Nice one

So ECO to Dollar exchange rate will be?

Dead on arrival

Will this have any positive economic impact in Nigeria?

I hope our economic policy and political charlatans would favour this

I'm glad we starting to evolve. This is the course Ghadaffi was fighting for until the US thwarted him to kill the idea.

Obviously the US wouldn't like the news.

Good move for Africa.

I hope it would have weight as the Euro

500 Eco to 1 USD

Slaves

I don't understand why some people are just unnecessary pessimistic, always antagonizing anything and everything of their own even without a rational backup explanation.

I'm hopeful this will strengthen our currency strength. Euro is very strong even more than d USD.
If this happens to be d end of naira, so be it. Who naira help before?

Bh

Wait. So is this the end of Naira, Cedis, CFA Franc and the rest?

lilianofentse:
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Happy Sunday Guys.

Happy Sunday.

Topic.
Let's wait and see

ECO ECO

This may be a great move anyway.

I just pray it can just swallow dollars so that man pikin can buy stuffs from USA at a very cheaper rate.

I ECO. = $0.5 ����

ECOmug

600 ECO to 1 USD

CosmicPhoenix:
.

MJBOLT

Na so....

Hope this favours Nigeria

Why not a single currency with the whole of Africa? I don't know if in Europe east, west, south has its own currency different from the euros

Na year 3000 them go begin use am

ramdris:
So ECO to Dollar exchange rate will be?

Will be echoing.

ramdris:
So ECO to Dollar exchange rate will be?

1-1

sounds more like ego


igbo amaka

O ni baje ooo