The Economic Community of West African States (ECOWAS) has reaffirmed its commitment to launching the ECO single currency in 2027 as part of efforts to deepen regional economic integration and boost trade across West Africa.
The decision was announced at the end of the 69th Ordinary Session of the ECOWAS Authority of Heads of State and Government in Sierra Leone, where leaders said member states that meet the required economic convergence criteria will adopt the currency first, while others will receive support to join later.
The regional bloc also expressed concern over worsening insecurity in the Sahel and Lake Chad Basin, condemning terrorism, banditry and the abduction of schoolchildren, particularly in northern Nigeria.
It commended President Bola Tinubu for efforts to secure the release of victims and combat insecurity.
ECOWAS further pledged to strengthen regional cooperation on food security, trade, digital governance, aviation and infrastructure development, while reaffirming its commitment to the free movement of people and continued dialogue with Burkina Faso, Mali and Niger.
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