Lagos, Nigeria (CNN) As part of its plans to make Africa a more integrated continent, leaders of the Economic Community of West African States (ECOWAS) have adopted the name 'ECO' for a planned single currency to be used in the region.

The 15 member group announced at the end of an ECOWAS summit in Abuja, Nigeria's capital on Saturday.

Six member countries, including Nigeria, Liberia, and Ghana, could be swapping their currencies for a new one - the ECO.

Eight ECOWAS countries (Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo) currently jointly use the CFA franc.

Originally intended to be launched in 2000, the ECO has been postponed multiple times, and the newest target date is 2020.