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ECOWAS Intensifies Efforts On Regional Single Currency

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The Economies of West African States (ECOWAS) has intensified efforts on practical arrangements for the launch of the single currency, ECO for the region following consensus reached in the implementation of the directives issued at its 65th Ordinary Session.

This was revealed in a communiqué issued at the end of the 66th ordinary session of the authority of the head of state and government meeting held in Abuja on Sunday.

The ECOWAS bloc of 15 countries had previously planned to launch the currency in 2020, but the coronavirus pandemic caused delays.

The new launch date is 2027.

The Authority said it adopted the criteria proposed by the High-Level Committee for the selection of candidate Member States for the launch of ECO or those which would join at a later stage.

It instructed the Commission, in collaboration with the West African Monetary Agency (WAMA), to ensure that these criteria are incorporated into the protocol establishing the ECOWAS Monetary Union Agreement.

The Authority also endorses the proposals of the High-LevelCommittee on the costs, sources and modalities for financing the implementation of the reforms and institutions needed to launch the ECO.

It urged the central banks and member states to take the necessary measures for the payment of their financial contributions for the operationalisation of these institutions as soon as the decision on the effective date for the launch of the ECOWAS single currency is taken.

The Heads of State also urged the High-Level Committee, in collaboration with the ECOWAS Commission, to intensify its efforts to ensure that the deadlines set for the establishment and operationalisation of the institutions needed to launch the ECO are met.

The body said it welcomed the results achieved in the implementation of the ECOWAS Agricultural Policy (ECOWAP) within the framework of food security and nutrition.

Considering the critical role of agriculture in the socio-economic development of ECOWAS member states, the Authority directed the commission to ensure a swift implementation of the regional strategy for the Development of Livestock Farming and the Security of Pastoral Systems; the Regional Rice Self-sufficiency Initiative and its road map 2025-2035; and domesticate the Comprehensive African Agriculture Development Programme (CAADP) Action Plan 2026-2035.

The Authority also welcomed the strengthening of cooperation with technical and financial partners and urged member states to work together with community institutions towards the achievement of these initiatives for food security and nutrition in the region.

The ECOWAS currency is intended to:

Improve trade

A single currency could lower trade costs and improve intraregional trade, which is currently hindered by the use of different national currencies that are not convertible within ECOWAS.

· Boost economic prosperityA single currency could boost the economic well-being and prosperity of ECOWAS countries.

Some say that the transition to a single currency will involve a short period where both the national currencies and the common currency circulate side by side.

Others suggest that the first phase of implementation should involve two distinct ECO zones, where countries peg their national currency to the ECO.

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International

Death toll in Malaysia migrant shipwreck rises to 13

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Authorities in Malaysia and Thailand have recovered at least 13 bodies and are continuing to search for survivors after a boat carrying undocumented migrants capsized off the coast of Thailand’s Tarutao Island, officials said on Monday.

The vessel, which was carrying around 70 migrants — many believed to be members of Myanmar’s persecuted Rohingya minority — overturned four days ago while attempting to reach Malaysia.

Police said the passengers were part of a larger group of about 300 people who had set out in at least two boats from Myanmar roughly two weeks ago. The second boat has since been reported missing.

Tarutao Island lies just north of Malaysia’s popular Langkawi resort island, where rescue operations have been concentrated.

Romli Mustafa, Director of the Malaysian Maritime Enforcement Agency (MMEA) for the northern states of Kedah and Perlis, said that rescuers had so far recovered seven bodies, all identified as Rohingya.

“Thai authorities are also conducting search-and-rescue operations, where they have found six bodies,” Romli told reporters. “We expect to find more victims today,” he added, noting that strong currents were likely to carry additional bodies into Malaysian waters.

At least 13 people — mostly Rohingya and Bangladeshis — have been rescued alive, according to Malaysian police. Langkawi Police Chief Khairul Azhar Nuruddin said six of the dead were identified as Rohingya women and one as a young girl.

Romli said at least 12 vessels are currently involved in search efforts across a 250-square-nautical-mile area, roughly the size of Singapore.

The tragedy highlights the growing dangers faced by Rohingya refugees fleeing persecution in Myanmar, often through perilous sea routes facilitated by human trafficking syndicates.

“Cross-border syndicates are increasingly exploiting vulnerable migrants, turning them into victims of human trafficking using high-risk sea routes,” Romli said, noting that traffickers charge as much as $3,500 per person for passage.

Malaysia, one of Southeast Asia’s more prosperous nations, is home to millions of migrant workers, many of whom are undocumented and employed in construction, agriculture, and domestic service.

Deadly boat disasters are not uncommon in the region. In December 2021, more than 20 migrants drowned off Malaysia’s coast in one of the worst incidents in recent years.

Authorities say search operations will continue in both Thai and Malaysian waters as the death toll is expected to rise.

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International

JUST IN: Nancy Pelosi announces retirement from historic run in Congress

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Speaker Emerita Nancy Pelosi (D-California) announced her retirement Thursday morning via video message.

In the message posted on her social media accounts she speaks directly to San Francisco.

She said: “San Francisco, know your power,”. “We have made history. We have made progress. We have always led the way, and now we must continue to do so by remaining full participants in our democracy and fighting for the American ideals we hold dear.

“Dear San Francisco, we are fortunate to live in the most beautiful, remarkable place on Earth, but the true magic of San Francisco, the San Franciscans. There’s a reason why our city has always been synonymous with the future. Here, we don’t fear the future. We forge it from the gold rush to the miracles of science and technology. Our city has always been the cradle of innovation, buzzing with optimism and creativity.

“We are vibrant and diverse city, home to hard working families, diligent students and Heroic veterans and the dreams of entrepreneurs and immigrants from Chinatown to Japantown, from the mission to the film Hunters Point to the Castro North Beach to the sunset. We are also resilient, experiencing more than our fair share of challenges.

“When the Loma Prieta earthquake struck, we brought in federal support that ensured we would not just recover but reimagine the South of Market neighborhood, and of course, HIV AIDS tested our city to its core. But out of our agony came action. Under the leadership of UCSF and San Francisco General, we pioneered comprehensive community based care, prevention and research.

That very system served as a model, as we wrote the Ryan White Care Act, which still ensures access to life saving medical care nationwide. Fittingly, our city is home to the National AIDS memorial grove, a place of renewal, where we remember the loved ones we lost. For decades, I’ve cherished the privilege of representing our magnificent city in the United States Congress.”

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International

BREAKING: Tinubu Responds to Trump’s Threats, Swears in Two New Ministers

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In a high-stakes moment for Nigeria’s diplomacy and domestic political agenda, President Bola Tinubu has spoken publicly for the first time in response to threats issued by U.S. President Donald Trump — at the same time swearing in two new ministers to his Cabinet.

President Trump recently directed U.S. military planning toward Nigeria, warning that American assistance could be cut off if Nigeria continues to “allow the killing of Christians” — and even suggesting the possibility of U.S. intervention.

In response, Tinubu’s office, via Minister of Information & National Orientation Mohammed Idris, announced that the president remains calm and is taking the matter “with the depth it requires”.

The government emphasised that Nigeria is engaging via multiple channels — including religious leaders, international organisations and regional bodies — to clarify its position and dispel narratives of religious intolerance.

Analysts say the seriousness of the U.S. approach underscores global concern about Nigeria’s security and religious-freedom situation.

At a Federal Executive Council (FEC) meeting held earlier today, President Tinubu swore in:

  • Dr. Bernard Mohammed Doro (from Plateau State) to fill the vacant Ministry of Humanitarian Affairs & Poverty Reduction.
  • Mr. Kingsley Tochukwu Udeh (SAN, from Enugu State) to fill the Ministry of Science, Technology & Innovation, following the resignation of his predecessor amid allegations of certificate forgery.

Their appointments were confirmed by the Senate and came at a moment of heightened domestic and international scrutiny.

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