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ECOWAS assures on integration, single currency

The ECOWAS Commission says it will focus on the implementation of regional integration and monetary policies in 2020 and ensure that proposed single currency, Eco, will align with the Central Bank of West Africa.Dr. Aderemi Ajibewa, the commission’s Director of Political Affairs, said in Abuja on Friday that Eco, would be adopted and not only that, it would also be seen as emanating from the Bank.

“So, regarding the single currency, we have all listened to the various issues going on UEOMA, Authority of Heads of State and Government, and within the ECOWAS and both organisations would work together to facilitate its integration into the ECOWAS Monetary zone, that is ECO.

“With respect to the free movement of goods and services, ECOWAS has expressed in the communiqué that the efforts on the issue of the African Continental Free Trade Area (AFCFTA) would be resolved.

“Some areas are still lingering over there, and that would be resolved so that a single common offer could be sent to the African Union Commission,” Ajibewa said.

Ajibewa said that the authority had at its 56th Ordinary Session held in Abuja on Dec. 21, instructed the commission to implement the policies.

According to him, the attention will be on the implementation of socio-political, economic, monetary, and humanitarian policies as well as programmes aimed at promoting the free movement of goods and services through the African Continental Free Trade Area (AFCFTA), energy and infrastructure, among others.

The director said that with respect to other areas, ECOWAS had made a steady progress on the issue of ECOWAS Service Policy Review.

He noted that this has also helped in arriving at a common position on the schedule of specific commitments in this area and this would be further intensified in 2020.

With respect to the energy and infrastructural development, Ajibewa said that ECOWAS would also intensify its commitments with member states in 2020.

Ajibewa said that collaboration with member states to step up on implementation of the regional structured projects would help in opening up some countries and ensuring seamless intra-community trade and enhance security.



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