ECO may soon replace Naira currency

Baring any last minute change, the Nigerian Naira note may be replaced ECOWAS currency to be named ECO.

This is to further improve corporation and promote trade among countries that make up West Africa, leaders in the region by members of the Economic Community of West African States (ECOWAS),

Announcing that the currency of six members state, including Nigeria would be changed in ECOWAS conference in Abuja, It therefore means that when the plan is implemented, the Nigerian Naira would be changed to the new ECOWAS currency to be called ECO. The plan is said to commence in 2020.

According to a report by CNN, ECOWAS will be working with West African Monetary Agency (WAMA), the West Africa Monetary institute (WAMI) and central banks of the concerned countries to speed up the implementation of a New Road map for the proposed single Trade currency.

The currency, ECO is expected to boost Economic Development in the West African Region and improve Cross border Trade