The President, Heads of States and Government of the Economic West African State have adopted “EC” as symbol for the single currency, Eco, to be used in Nigerian and 14 other countries.
The body also adopted “Central Bank of West Africa (CBWA)” as the name of the ECOWAS Central Bank.
The Authority commended the Ministerial Committee for the progress made so far with the implementation of the ECOWAS Single Currency Programme with the new ECO curency Symbol.
The body has introduced the 2020-2024 Action Plan with a budget of $2.3 billion to eliminate terrorism in the sub-region.
The leaders expressed grave concern about the revival of terrorist attacks targeted at defence, security forces, civilians, and worship places and social and economic structures.
According to Raph Steve Ahior wrote on the article relating to ECO curency Symbol thus:
$2.5 is no way sufficient for the kind of threats and level of insurgency. It must be tackled on all fronts, politically, militarily, economically, socially and religiously.
- West Africa must identify countries and individuals or organizations responsible for terror activities and sanction them.
- They must beef up joint bother patrol and improve intelligence gathering across member states.
- They must setup effective biometric data base system and should not rely on foreign intelligent agencies.
- They must take control of mining activities in the subregion to boost the value of ECO exchange rate, empower indigenous participation mining and percentage should be used to fund defence and security.
- Central bank locations must have state of the arts CCTV cameras, Rada equipment against foreign threats because France is not going to let go easily.
God bless W. Africa and their new vision.