Nigeria cautious on West African Eco

The Federal Government has adopted a cautious approach on the adoption of a common currency in West Africa as news filtered in that eight French-speaking neighbours have changed from Communaute Financiers d’Afique,CFA, currency to ECO.

Yunusa Tanko Abdullahi on behalf of the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said: “Nigeria has received the news of the change of name of the UEMOA Currency, the CFA (Communaute Financiers d’Afique) to ECO supposedly as the ECOWAS single currency. Nigeria is studying the situation and would respond in due course “

In a press conference in Abidjan, Presidents Emmanuel Macron of France and Alassane Quattara of Cote d’Ivoire announced at the weekend that the eight West African countries using the CFA Franc currency would adopt the Eco as their new currency next year.

Open chat