ECOWAS Accelerates Plans for ECO Currency Launch by 2027

The Economic Community of West African States (ECOWAS) has instructed its Commission to urgently convene a meeting of the President’s Task Force to accelerate the launch of the ECO, the proposed single currency for the region. This directive follows the 14th Session of the Convergence Council held via videoconference on September 7, 2026, which assessed the progress toward establishing the ECOWAS Single Currency and reviewed outstanding requirements ahead of the targeted rollout date of July 1, 2027.

The Council considered reports from the 68th Meeting of the Committee of Governors of ECOWAS central banks, held on September 4, 2026, and previous meetings focused on macroeconomic policies and monetary affairs. The Convergence Council emphasized the need for strengthened coordination among member states to address technical and institutional challenges.

ECOWAS leaders reaffirmed their commitment to the ECO during the 69th Ordinary Session of the Authority of Heads of State and Government in Lungi, Sierra Leone, highlighting the currency's role in enhancing regional economic integration and trade.