Eight West African countries have agreed to change the name of their common currency to Eco and Nigeria is expected to join.
The Federal Government says it is studying the situation on 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, Mrs Zainab Ahmed,made this known in a statement by Yunusa Abdullahi, her Special Adviser, Media and Communication, in Abuja on Monday.
The News Agency of Nigeria (NAN), reports that eight West African countries have agreed to change the name of their common currency to Eco, thereby effectively severing the CFA franc’s links to former colonial ruler France.
The countries include Benin Republic, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.
This was announced by Ivory Coast President Alassane Ouattara, during a visit by French President Emmanuel Macron to Ivory Coast.
All of these African countries are former French colonies with the exception of Guinea-Bissau.
Reacting on this development, Ahmed said Nigeria as a country would respond in due course.
“To the news of the change of name of the West African Economic and Monetary Union (UEMOA) currency, Communaute Financiere d’ Afrique (CFA) to Eco, supposedly as the ECOWAS single currency.”
Aubameyang snubbed as Mane, De Bruyne battle for Premier League Player of the Year
Alexis Sanchez breaks silence after his contract is terminated at United
BREAKING: Buhari, Ize-Iyamu, Buni, Ganduje meet in Aso Rock
Buhari endorses Ize-Iyamu for Edo election
#BBNaija: “Why I was in the shower with Ozo” – Nengi shares her side
WAEC releases 2020 WASSCE timetable
#BBNaija: Kaisha receives first strike; fined by Big Brother
Players to receive immediate Red Card as IFAB introduces new football rule
- Entertainment1 day ago
#BBNaija2020: ”Shut up your mouth” – Ozo clashes with Prince during drama practice (video)
- Love & Relationship1 day ago
Jealous boyfriend allegedly kill girlfriend after she was caught on camera twerking for another guy (Graphic Video)
- News1 day ago
High debt profile: Stop borrowing, tackle mass killings – #RevolutionNow protesters tells Buhari
- News1 day ago
Obaseki Disrespected The Oba Of Benin By Wearing A Cap To The Palace – Oshiomhole