The Economic Community of West African States (ECOWAS) has renewed efforts towards the establishment of a single regional currency, the ECO, with the regional bloc maintaining that its proposed 2027 launch remains achievable.

The assurance followed the 14th Session of the ECOWAS Convergence Council, convened by the ECOWAS Commission via videoconference on September 7, 2026, to review progress towards the long-awaited monetary integration project.

The meeting assessed the economic performance and convergence status of member states, as well as outstanding requirements that must be fulfilled before the ECO can be introduced across the region.

Participants reviewed the report of the 68th Meeting of the Committee of Governors (CoG) of the Central Banks of ECOWAS Member States, which was held on September 4.

The Governors’ meeting was itself 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 (WAMA), held from August 31 to September 2, 2026.

The sequence of high-level technical and monetary meetings underscores the renewed push by ECOWAS to address the economic and institutional requirements for a common currency after years of delays to the project.

The Convergence Council examined the progress made by member states towards meeting the prescribed macroeconomic convergence criteria, which are central to ensuring that participating economies are sufficiently aligned for a sustainable monetary union.