Eco: ECOWAS Reveals New Currency Symbol, Bank Name

The “EC” has been adopted by the ECOWAS Heads of States and Government as the symbol for the single currency, Eco, to be spent in Nigerian and 14 other countries.

ECOWAS also adopted “Central Bank of West Africa (CBWA)” as the name of the ECOWAS Central Bank.
Through its president, Mr Jean-Claude Brou, yesterday in Abuja the commission made this known

The Ministerial committee was commended for the progress recorded with the implementation of the ECOWAS Single Currency Programme.

A 2020 to 2024 action plan was also adopted by the Authority to end terrorism in the sub-region with a budget of 2.3 billion dollars.

They expressed their deep concerns on the return of insurgents, especially targeted at the defence, security forces, civilians and the social and economic structures and places of worship.

ECOWAS reaffirmed their determination to leave no stone unturned in eradicating terrorism in the region, expressing solidarity with the people and governments of affected Member States.

“The money is intended for the provision of equipment to support the defence forces of Member States, training of relevant bodies and effective intelligence sharing.

“The Authority instructs the President of the Commission to immediately set up an inclusive and transparent mechanism to manage funds mobilized for the implementation of the action plan.

“The Authority further instructs the President of the Commission to ensure the speedy disbursement of the resources mobilized in other to respond efficiently to the urgent situation.

“The Authority decides to focus efforts in 2020 and 2021, on the implementation of activities expected to quickly contribute in checking the increase and spread of terrorist attacks.

“The Authority urges international partners to provide substantial support for the implementation of the action plan.

“To this end, it instructs the President of the Commission to organise as soon as possible a donor conference to mobilise funds, in addition to the internal resources identified by the Authority.

“The Authority instructs the President to build strong partnerships with all stakeholders in counter-terrorism in the region. The Partnership should be built on complementary initiatives to avoid duplication of efforts,” the communiqué stated.