ECOWAS has reaffirmed plans to launch the ECO single currency in 2027. Here is what it means for Nigeria, Ghana and other West African countries.
* ECOWAS is targeting 2027 for the launch of its proposed ECO single currency.
* Nigeria, Ghana and other West African countries are part of the regional currency plan.
* The ECO will not automatically replace the naira in 2027.
* Adoption depends on countries meeting agreed economic requirements.
The transition will operate on a gradual, phased approach, beginning only with member states that successfully meet strict macroeconomic convergence criteria, such as low inflation and manageable debt.
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