Nigeria studying new currency adoption by francophone countries – Minister

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Nigeria is studying the recent change of name of the UEMOA Currency, the CFA (Communaute Financiere d’Afrique) to Eco and will decide the next course of action in due time.

This was announced by Minister of finance, budget and national planning in a statement released on Monday and signed by Yunusa Tanko Abdullahi, her special adviser media and communication.

“Nigeria has received the news of the change of name of the UEMOA Currency, the CFA (Communaute Financiere d’Afrique) to Eco supposedly as the ECOWAS single currency,” the statement read.

“Nigeria is studying the situation and would respond in due course.”

In July, member countries had agreed that ‘Eco’, the proposed single currency would be launched in January 2020.

They also agreed that a flexible currency regime would be adopted.




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