ECOWAS Authority of Heads of States Directs Commission on ECO Single Currency, Sets 2027 Target By Raymond Enoch
The Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS) has reaffirmed its commitment to launching the long-awaited regional single currency, the ECO, in 2027, marking a significant milestone in the bloc’s drive towards deeper economic integration.
At its 69th Ordinary Session, the Authority resolved that the introduction of the ECO would commence with Member States that have met the established macroeconomic convergence criteria and are ready to participate in the monetary union.
The leaders emphasized that countries yet to meet the requirements would continue to receive technical and policy support to enable their eventual accession to the single currency framework.
To fast-track implementation, the Authority commended the ECOWAS Commission for ongoing high-level consultations with Governors of the Central Banks of Member States aimed at resolving outstanding technical and policy issues critical to the successful introduction of the ECO in 2027.
The Authority also welcomed the successful registration of the name “ECO” with the African Intellectual Property Organisation (OAPI), describing it as an important institutional milestone in the regional currency programme.
In a related development, the Authority approved the Republic of Guinea’s request to join the Presidential Task Force on the ECOWAS Single Currency Programme and directed the ECOWAS Commission to convene a meeting of the Task Force before the Ordinary Summit scheduled for December 2026. The meeting will be held in collaboration with the President of Côte d’Ivoire, the only serving member of the current Presidential Task Force.
Furthermore, the Commission, working closely with the West African Monetary Agency (WAMA), was directed to intensify consultations with Central Bank Governors to develop consensus proposals on outstanding issues for consideration by the Presidential Task Force.
The Authority also instructed the ECOWAS Commission to register the ECO as the official trademark of the ECOWAS single currency with relevant regional and international intellectual property organisations.
The ECO Single Currency Programme remains one of ECOWAS’ flagship integration initiatives, expected to facilitate cross-border trade, enhance monetary stability, reduce transaction costs, and strengthen regional economic competitiveness when it becomes operational in 2027.
