Proposed three decades ago, the single currency throughout the Economic Community of West African States (ECOWAS) has finally been named the eco.
At the end of the 55th ECOWAS summit in Abuja, the body announced it would be adopting the currency by 2020--in less than six months' time.
Eight of the ECOWAS countries--Benin, Burkina Faso, Guinea-Bissau, Cote d'Ivoire, Mali, Niger, Senegal, and Togo--already use a shared currency: the West African CFA franc.
This is not to be confused with the Central African franc used by Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea and Gabon.
The other six of the 15 ECOWAS member nations, including Liberia, Ghana and Nigeria...