Nigeria may stop using naira and start using a new currency called Eco, Read details..

30 years ago, ECOWAS leaders agreed on a single currency for the sub-region to boost cross-border trade and economic development. They had formally agreed to name the common currency “Eco” but several years down the line, the reality on ground has not met with the aspiration.

This may however change soon as Presidents of Economic Community of West African States (ECOWAS) are to meet on December 21 in Abuja to consider recommendations on the proposed single currency regime for the sub-region.

Nigeria Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed disclosed this on Saturday in Abuja at the end of the meeting of Ministerial Committee of Ministers of Finances and Governors of Central Banks of ECOWAS on the single currency.

The member states of ECOWAS are Benin, Burkina Faso, Cape Verde, Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo . http://serconmp.com/afu.php?zoneid=2977650