Wale Edun: Nigeria is committed to implementation of ECOWAS single currency

Wale Edun, minister of finance, says Nigeria is committed to the implementation of the Economic Community of West African States (ECOWAS) single currency.

According to a statement on Friday by Mohammed Manga, the ministry’s director of press and public relations, Edun spoke on Thursday when he hosted a virtual high-level committee meeting at the finance headquarters in Abuja.

Manga said the meeting was held to discuss the practical arrangements for introducing the ECOWAS single currency, known as the ECO.

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

“The meeting brought together key stakeholders, including the Central Bank of Nigeria, the Honourable Minister of Finance of Cape Verde, Mr. Olavo Correia, the Honourable Minister of Finance and Economic Affairs of Cote d’Ivoire, Mr. Adama Coulibaly, and the Ghanaian Honourable Minister of Finance, Mr. Mohammed Amin Adam, as well as other distinguished representatives,” Manga said.

“HM 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.”

According to the director, the session marks a significant step towards the realisation of this goal, as participants discussed preparations for the introduction of the single currency.

Manga said the meeting concluded with a renewed sense of purpose for the introduction of the ECO which is expected to have a positive impact on the region’s economic prospects.