Nigeria: Adoption of Eco - Nigeria Will React at Appropriate Time - Minister

Nigeria naira
31 December 2019

The Federal Government has said it is still studying the situation as eight West African countries, most of them French speaking, changed their currencies to Eco, the proposed single currency for West Africa.

Last week, members of the West African Economic and Monetary Union (also known by its French acronym, UEMOA) announced they are changing their currency from CFA Franc to Eco, ahead of the Eco launch in 2020.

The countries using the Central African CFA and have agreed to change to Eco are Cameroon, Chad, Central African Republic, Congo Republic, Equatorial Guinea and Gabon – all former French colonies with the exception of Equatorial Guinea.

But the Minister of Finance, Budget and National Planning Zaynab Ahmed said Nigeria has received the news and it is still studying the situation before taking a position.

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