The Economic Community of West African States has directed its Commission to urgently convene a meeting of the Presidents’ Task Force to accelerate efforts towards the launch of the ECO, the bloc’s proposed single currency.
The directive followed the 14th Session of the ECOWAS Convergence Council, held via videoconference on September 7, 2026, according to a statement posted by the regional bloc on its official X account on Tuesday.
The meeting reviewed progress towards establishing the ECOWAS single currency and assessed outstanding requirements ahead of the proposed July 1, 2027 launch date.
The Convergence Council considered the report of the 68th Meeting of the Committee of Governors of ECOWAS central banks, held on September 4.
The governors’ meeting was preceded by the third joint meeting of the Technical Committee on Macroeconomic Policies of the ECOWAS Commission and the Technical Committee on Economic and Monetary Affairs of the West African Monetary Agency, held between August 31 and September 2.
To sustain momentum on the project, the Council directed the ECOWAS Commission to immediately convene the Presidents’ Task Force and fast-track implementation.
“The Council requested the ECOWAS Commission to immediately convene the Meeting of the Presidents’ Task Force to fast-track the process,” the statement said.
The move is expected to strengthen coordination among member states and address outstanding technical and institutional issues ahead of the proposed launch.
ECOWAS said the meetings also reviewed the economic performance and convergence status of member states, while assessing progress on the remaining conditions for the introduction of the ECO.
RECOMMEND: 2027: APC Gov Aspirant Hunye Faults Party’s Process, Rejects Ogun Candidate Emergence
“The meetings reviewed the economic performance and convergence status of Member States and assessed progress on the outstanding requirements for the launch of the ECO,” the Commission said.
Following the assessment, participants maintained that the proposed 2027 launch remained achievable.
“Participants noted that the objective of launching the ECO in 2027 remains achievable,” ECOWAS added.
