The Economic Community of West African States (ECOWAS) is a political and economic union consisting of Benin, Burkina Faso, Cabo Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. In 2019, members of ECOWAS announced plans to create a common currency, called the “Eco”. This currency would replace the CFA Franc, a common currency already used by the (mostly) francophone ECOWAS countries, and the currencies of ECOWAS countries not using the CFA Franc.