ECOWAS to launch single currency Eco in 2027

...seeks closer ties with breakaway Sahel bloc

The Economic Community of West African States (ECOWAS) has reaffirmed its commitment to launch its long awaited single currency in 2027, with Omar Touray, Commission President insisting that regional leaders are determined to proceed despite lingering political and economic challenges across the bloc.

Touray, also called for intensified efforts to rebuild trust between West African states and the three Sahel countries Mali, Burkina Faso and Niger, whose withdrawal from the regional bloc has strained cooperation on peace and security.

Touray made the remarks on Friday during the 2025 Second Extraordinary Session of the ECOWAS Parliament in Abuja, where he delivered a briefing on political, economic, and security developments across the region.

Touray said while ECOWAS continues to collaborate with the three countries on trade, free movement of persons, and other existing protocols, security cooperation has remained “a major challenge.”

“Our brothers and sisters from the three countries are prepared to work with us in all areas, but in the area of peace and security, trust remains the biggest challenge,” he told lawmakers.

Read also: ECOWAS moves to fill key vacancies following Niger, Mali, Burkina Faso withdrawal

He said ECOWAS has been engaging global partners including the United States and Russia to help bridge the trust deficit rather than deepen divisions.

According to him, relations have improved in recent months, stating, “In the past eight months, you no longer hear hostile statements being exchanged. We deliberately agreed to maintain the status quo until a new agreement is concluded.”

Touray reported that following the exit announcement by the three Sahel states, the ECOWAS Council of Ministers directed that all nationals of the countries working in ECOWAS institutions vacate their posts.

Managers and P5-level officials left on September 30, while other staff will exit by 15 April 2026, he said, adding that the Commission is working to replace them efficiently.

The ECOWAS Commission President reaffirmed that regional leaders have resolved to launch the long-awaited single currency in 2027, even if it begins initially as a non-physical (virtual) currency, similar to how the Euro was introduced.

He noted that several primary and secondary convergence criteria and milestones had already been identified, and member states were expected to work toward meeting them.

Touray also responded to parliamentary inquiries relating to gender parity, challenges with the community levy, illegal migration, illegal fishing, axle-load regulations, and alignment between national and regional health policies.

On illegal fishing, he stressed that though he is a Gambian national, he sits before the Parliament as President of ECOWAS and expects Gambian representatives to respond to country-specific issues.

Touray confirmed that ECOWAS would share its joint election observer reports with the Parliament, including the Guinea-Bissau elections report.

He explained that the ECOWAS Mission in Guinea-Bissau withdrew to its barracks on the orders of national authorities shortly before the recent political unrest, an instruction the mission was obliged to obey.

Similarly, he said dialogue continues with the government of Benin to allow an ECOWAS fact-finding mission to assess the political and electoral climate before upcoming polls.

Touray agreed with lawmakers that Guinea-Bissau urgently needs constitutional, legal, and security sector reforms, especially to address anomalies such as retirees who continue to occupy security posts.

However, he stressed that such reforms require a clear national authority.

“The question remains, who will lead the reforms? A military transition or a civilian transition? ECOWAS can support, but it must be driven by national leadership”, he added.

He warned against pressure that could lead to the announcement of fake electoral results, noting that Guinea-Bissau’s electoral commission had confirmed that results were destroyed during the recent turmoil.

Addressing concerns that ECOWAS focuses too heavily on political crises at the expense of economic development, Touray stated that peace and security remain essential for progress.

He cited ECOWAS interventions in Liberia, Sierra Leone, The Gambia, and Guinea-Bissau as examples of how regional stability has made economic development possible.

“You cannot have economic progress without peace. These crises are imposed on us, we cannot ignore them,” he said.

Touray assured lawmakers that ECOWAS retains the capacity to deploy missions rapidly, noting that both the Guinea-Bissau and The Gambia missions were assembled quickly with contributions from Nigeria, Ghana, and Senegal.

He reaffirmed the bloc’s commitment to strengthening its interventions against terrorism, violent extremism, and other security threats.

Touray praised countries that have banned the export of raw materials and now insist on local processing, urging other member states to emulate them.

He noted Africa’s limited participation in global value chains, even in simple manufactured goods.

Despite its challenges, Touray insisted that ECOWAS remains a continental benchmark.

“Let nobody fool us. Despite the difficulties, ECOWAS stands as a model on the African continent. Other regional blocs come to learn from us”, he noted.

He said regional unity must be protected and strengthened, not abandoned.

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