ECOWAS Summit in Abuja Focuses on Regional Currency Integration
West African leaders revive discussions on the Eco common currency with a revised 2030 timeline.
The Economic Community of West African States has convened an extraordinary summit in Abuja to discuss the revival of the Eco currency project. Leaders from 12 member states agreed to a revised roadmap targeting partial adoption by 2030.
ECOWAS Commission President Omar Alieu Touray said the new timeline is more realistic, factoring in lessons from previous failed attempts. "We have learned that convergence criteria must be met before adoption, not after," he emphasized.
Ghana's delegation, led by Finance Minister Mohammed Amin Adam, expressed cautious support but emphasized that any currency union must preserve the monetary sovereignty of member states during the transition period.