Hello Eco” Viral Claim Sparks Panic: No Plans to Scrap Naira in 2027, Fact-Checks Confirm

 A viral social media video claiming that Nigeria will abandon the **Naira** in 2027 and replace it with a single regional currency called the **Eco** has triggered widespread concern and misinformation online, but official sources and fact-checks have debunked the assertion that the national currency will cease to exist.

The video, featuring influencer **Flora the Digital Banker**, has circulated rapidly on platforms like WhatsApp, Instagram, Facebook, and TikTok, with the phrase “Hello Eco” becoming a trending hook. In the clip, the creator states: “Are you aware that from 2027, there is not going to be a currency called Naira? It is going to be replaced by a currency called the Eco,” suggesting a full transition across 12 ECOWAS member states including Nigeria, Ghana, Senegal, Togo, Guinea, Guinea-Bissau, Côte d’Ivoire, Liberia, Sierra Leone, The Gambia, and Cabo Verde.

The claim draws parallels to the Euro in the European Union and warns of potential economic shifts tied to Nigeria’s 2027 general elections.

However, multiple credible fact-checks and official statements clarify that no decision has been made to abolish or scrap the **Naira**. The **Eco** is a proposed single currency for the Economic Community of West African States (ECOWAS), under discussion for years, with a targeted launch date of July 1, 2027, following meetings including one in Banjul, Gambia, in August 2025, and recent sessions in Monrovia, Liberia.

Key points from verified reports:

- The **Eco** project aims to promote regional trade, reduce transaction costs, and lessen dependence on foreign currencies like the US dollar.

- Implementation remains conditional on countries meeting strict macroeconomic convergence criteria, including inflation targets, fiscal discipline, and institutional frameworks.

- Nigeria’s Presidency, in a February 14, 2026, statement, confirmed ongoing technical preparations but emphasized a phased approach. The initial phase may involve select countries (e.g., Nigeria, Ghana, Liberia, Sierra Leone, Guinea, and The Gambia), potentially excluding the eight UEMOA nations still using the CFA franc.

- No official announcement from the Presidency, Central Bank of Nigeria (CBN), or ECOWAS indicates the **Naira** will be eliminated in 2027 or any specific date. The **Eco** is envisioned as a complement or long-term regional integration tool, not an immediate replacement.

Fact-checking outlets including TheCable Fact Check and Legit.ng have rated the viral claim as misleading or false in its absolute form, noting that while the **Eco** launch target persists, the complete scrapping of national currencies like the **Naira** is not confirmed and faces significant economic and political hurdles—particularly given Nigeria’s ongoing inflation challenges and naira volatility.

The viral spread has prompted calls for caution against unverified financial advice circulating online, with some users expressing fears of cash shortages or economic disruption reminiscent of past currency redesign exercises.

**Official Position (Nigeria Presidency, February 14, 2026):** “The first phase of implementation should concern Liberia, Nigeria, Ghana, Sierra Leone, Guinea and The Gambia, subject to compliance with agreed macroeconomic convergence criteria and the finalization of institutional governance structures.”

As discussions continue among ECOWAS central bank governors, experts stress that any major currency transition would require extensive public sensitization, legislative approval, and phased rollout to avoid economic instability.

The **Naira** remains Nigeria’s official legal tender, and citizens are advised to rely on statements from the CBN, Presidency, or ECOWAS for accurate updates on the **Eco** initiative.