The West African Countries (ECOWAS) economic community has reiterated its commitment to achieving a single currency as part of a broader effort to deepen regional integration.
ECOWAS Parliament President Memounatou Ibrahim highlighted this at the opening ceremony of the parliamentary seminar commemorating the 50th anniversary of Ecowas and the 25th anniversary of Ecowas Parliament.
Businessday reports that the event took place on Monday at the Continental Hotel on Victoria Island in Lagos.
Ibrahim described the pursuit of a unified currency as an important step to promote economic growth and stability in West Africa.
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She emphasized the need for stronger cooperation between member states to address regional challenges, saying, “We must work together to achieve lasting integration.”
Ibrahim dealt with the recent departures in Niger, Mali and Burkina Faso and acknowledged the potential impact on regional unification, but reassures stakeholders that the block is taking steps to mitigate the set-off.
“We will continue to have deeper dialogue with the departure countries and maintain bilateral relations with them,” she said.
She also emphasized the importance of strengthening institutions, making them “reactive, inclusive and effective” while fostering a new focus on economic integration as a path to a more prosperous West Africa.
Jiblin Balau, the first vice-chairman of Ekowas Parliament, expressed confidence in the discussions at the seminar, saying it would bring positive results to the region.
He praised the legislators for their commitment to regional cooperation and policy harmony, and emphasized the importance of the Parliament in promoting unity and development.
Balau also praised Nigerian President Bora Tinubu and Chairman Ekowas for his leadership in promoting regional stability, economic integration and democratic governance, and described his commitment as a “beacon of member states' inspiration.”
