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Nigeria Throws Weight Behind ECOWAS Single Currency Initiative

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By Gloria Ikibah 
 
 
The Nigerian government has endorsed the single currency initiative of the Economic Community of West African States (ECOWAS), known as ‘ECO’.
 
The ECOWAS single currency is envisioned to propel growth and development throughout the West African sub-region.
 
The ECOWAS single currency has also been incorporated as a feature in the three-in-one identity card planned by the National Identity Management Commission (NIMC) and set for roll-out in August.
 
Finance Ministers and Central Bank Governors from the 15 ECOWAS member states agreed on modalities for the initiative at the 92nd Ordinary Session of the ECOWAS Council of Ministers held in Abuja during the week.
 
The meeting represents a significant step towards realising the ambitious goal.
 
Nigeria’s Minister of Finance and Coordinating Minister of the Economy Wale Edun, in a statement signed by the Director Of Press, Mohammed Manga, highlighted the anticipated impact of the single currency initiative.
 
Edun said the ECO will play a critical role in fostering “economic growth and development in the region,” further emphasising Nigeria’s unwavering commitment to its successful implementation.
 
According to the statement, participants engaged in preparations for the single currency’s introduction, laying the groundwork for a more integrated economic future for the 15 member states.
 
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By Gloria Ikibah 
 
 
The Nigerian government has endorsed the single currency initiative of the Economic Community of West African States (ECOWAS), known as ‘ECO’.
 
The ECOWAS single currency is envisioned to propel growth and development throughout the West African sub-region.
 
The ECOWAS single currency has also been incorporated as a feature in the three-in-one identity card planned by the National Identity Management Commission (NIMC) and set for roll-out in August.
 
Finance Ministers and Central Bank Governors from the 15 ECOWAS member states agreed on modalities for the initiative at the 92nd Ordinary Session of the ECOWAS Council of Ministers held in Abuja during the week.
 
The meeting represents a significant step towards realising the ambitious goal.
 
Nigeria’s Minister of Finance and Coordinating Minister of the Economy Wale Edun, in a statement signed by the Director Of Press, Mohammed Manga, highlighted the anticipated impact of the single currency initiative.
 
Edun said the ECO will play a critical role in fostering “economic growth and development in the region,” further emphasising Nigeria’s unwavering commitment to its successful implementation.
 
According to the statement, participants engaged in preparations for the single currency’s introduction, laying the groundwork for a more integrated economic future for the 15 member states.
 
“The vision for the ECO extends beyond a mere currency. It aspires to become a cornerstone of economic integration, streamlining trade and bolstering monetary stability across the region.”
 
This week’s gathering brought together key players instrumental in making this vision a reality including the Minister of Finance of Cape Verde, Olavo Correia, the Minister of Finance and Economic Affairs of Cote d’Ivoire, Adama Coulibaly, and the Ghanaian Minister of Finance, Mohammed Amin Adam amongst other representatives.
 
“The meeting culminated in a renewed sense of purpose surrounding the ECO’s introduction. Participants emerged with a shared belief that the single currency holds immense potential to reshape the economic landscape of the region, paving the way for a more”.
 
 also  Petrol Landing Cost Hits N1000 Per litre On FX Crisis 
“The vision for the ECO extends beyond a mere currency. It aspires to become a cornerstone of economic integration, streamlining trade and bolstering monetary stability across the region.”
 
This week’s gathering brought together key players instrumental in making this vision a reality including the Minister of Finance of Cape Verde, Olavo Correia, the Minister of Finance and Economic Affairs of Cote d’Ivoire, Adama Coulibaly, and the Ghanaian Minister of Finance, Mohammed Amin Adam amongst other representatives.
 
“The meeting culminated in a renewed sense of purpose surrounding the ECO’s introduction. Participants emerged with a shared belief that the single currency holds immense potential to reshape the economic landscape of the region, paving the way for a more”.
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Immigration raises alarm over high number of irregular migration in Nigeria

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The Edo State Controller of the Nigeria Immigration Service, Martins Moye, has raised the alarm over the increasing number of irregular migrants entering Nigeria.

Moye raised the alarm at the 2024 Nigeria Immigration Service, NIS, enlightenment campaign against irregular migration in Benin, Edo State capital.

He underscored the need for public awareness to curb irregular migration.

A facilitator from NIS headquarters in Abuja, David Amanahu, highlighted Edo State’s historical role in irregular migration.

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According to him, due to recent efforts by the Edo State Command, the state has improved in the national ranking on irregular migration.

“The positive news is that Edo State is no longer ranked number one in irregular migration.

“Credit goes to the dedicated team in Edo who worked tirelessly to improve the situation,” Amanahu stated.

Amanahu, while delivering a message from the Controller-General of Immigration, Kemi Nandap, noted that the NIS is now more focused than ever on border management and migration issues.

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Boundary disputes responsible for insecurity in coastal states – Oborevwori

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Delta State Governor, Sheriff Oborevwori of Delta has said that boundary disputes were also responsible for the rising spate of insecurity, deaths, violence and retarded progress in the country.

The governor stated this while addressing an audience at a one-day workshop for the creation of a platform for Nigeria’s coastal states and local government areas, held at the Government House, Asaba.

The workshop has the theme, “Towards a Secure, Peaceful and Prosperous Borders,” the News Agency of Nigeria reports.

There are many crises in the country over border issues, with Delta State having its fair share.

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The boundary crisis between the Okuama community in the Ughelli South Local Government Area and the Okoloba community in the Bomadi Local Government Area, which had claimed many lives, is being resolved by the government.

Speaking at the workshop, the governor said so many lives had been lost to boundary disputes as he called on the National Boundary Commission and other stakeholders to work assiduously in resolving such disputes in the country.

He described the theme as apt, adding that boundary dispute was an ancient and modern disease of humanity.

He said right from the colonial days, Nigeria had been plagued by boundary disputes, which had disastrous and destabilising consequences for the people.

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“There is scarcely any state in Nigeria that has not been involved in a boundary dispute with its neighbours, which often results in displacement, death, and destruction.

“Reports indicate that between January 2018 and August 2022; 676 people were killed in various communal and boundary clashes in Nigeria.

“The causes of these disputes are traceable to land ownership, community pride, ancient or colonial boundaries, and socio-cultural factors.

“In Delta State, it is safe to say that at least 80 per cent of boundary disputes revolve around land use, either for farming, mining, and other purposes of economic significance.

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“The resultant clashes often leave in their trail a chunk of internally displaced persons with the implication this has for their safety and wellbeing.

“As we all know, the living conditions in IDP camps are unsanitary and inevitably constitute environmental hazards,” he said.

Oborevwori charged the National Boundary Commission to work harder in resolving boundary disputes across the country.

“As the body responsible for resolving boundary disputes in Nigeria, the National Boundary Commission is critical to the peace, security, and prosperity of our communities.

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“It is incumbent on it to embark on enlightenment and sensitisation programmes to educate the people on the importance of respecting boundaries.

“It must also properly investigate cases of boundary disputes. In discharging this vital responsibility, officials of the Commission must demonstrate the highest levels of objectivity, neutrality, and integrity to instil confidence and elicit the goodwill of the people.

“Conversations break down fast once there is a perception of favouritism or nepotism on the part of those who are supposed to be impartial arbiters,” he said.

He added, “It goes without saying that an effective conflict resolution mechanism is critical for maintaining national security.

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“Hence, there is a need for strong political will on the part of the government to implement recommendations that will resolve disputes amicably, and prevent future border disputes.

“With enhanced peace and security at the core of our MORE agenda, we are committed to partnering with the Commission to discharge its functions effectively for a secure, peaceful, and prosperous Nigeria.”

In his welcome remarks, the Deputy Governor, Monday Onyeme, expressed delight that the African Union Border Governance Strategy would look into good border governance and the attainment of sustainable development.

Onyeme, who doubles as the Chairman of the State Boundary Commission, urged the African Union to sustain the tempo to ensure the harmonisation of all grey areas along the boundary communities.

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He observed that the European colonisers arbitrarily, without due regard to the ethnic homogeneity of many African groups, forced Africans to belong to different nations, while diverse heterogeneous communities were hurriedly bundled into a single nation with distinct boundaries.

On their part, the deputy governors of Bayelsa and Rivers states, Lawrence Egwhrudjakpor and Prof Ngozi Odu, respectively, called on relevant authorities to discuss boundary issues often, to enthrone peace in the country.

Earlier, the Director-General of the National Boundaries Commission, Mr Adamu Adaji, said the workshop was primarily designed to engage Nigeria’s coastal states, local government areas and traditional rulers on effective border governance in Nigeria.

The NAN reports that stakeholders, including some traditional rulers from the South-West and South-South states, attended the event.

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Obaseki embarks on post-tenure medical vacation

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The immediate-past governor of Edo State, Godwin Obaseki, has proceeded on vacation.

This is for him to rest and undergo a medical check-up, after a successful two-term as governor of the state.

This was disclosed in a statement by his media adviser, Crusoe Osagie, on Wednesday.

The former governor completed his two-term administration on November 11, 2024, and a new governor, Monday Okpebholo, was sworn in on Tuesday, November 12, 2024.

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Osagie said, “Following the completion of his second term, a former Governor of Edo State, Godwin Obaseki, has proceeded on vacation to rest and undergo a medical check-up.

“Obaseki, once again, expressed his appreciation to God Almighty, the people of Edo State and Nigeria for the opportunity to serve.

“He urged all Edo people both at home and in the diaspora to continue to be hopeful and pray for the peace, progress and prosperity of our state and Nigeria.”

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