ECOWAS Single Currency: Finance Minister Studying Situation On Adoption Of ECO - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
December 31, 2019
The Federal Government is studying the situation on proposed change of West African Economic and Monetary Union, UEMOA currency, Eco, to be used as ECOWAS single currency.
The Minister of Finance, Budget and National Planning,Zainab Ahmed, made this known in a statement in Abuja.
Already, eight West African countries have agreed to changethe name of their common currency to Eco, thereby effectively severing the CFAfranc’s links to former colonial ruler, France.
The countries include Benin republic, Burkina Faso,Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.
The Ivory Coast President, Alassane Ouattara announced thisduring a visit by French President Emmanuel Macron to Ivory Coast. All of theseAfrican countries are former French colonies with the exception ofGuinea-Bissau.
Responding on this improvement, the Minister said Nigeria,as a country, would react in due course.