Estimated Reading Time: <1
Six English-speaking countries of the Economic Community of West African States (ECOWAS) has rejected the Eco currency adopted by eight francophone countries.
The countries adopted the currency through their union, West African Economic and Monetary Union.
The countries reached their decision at a council meeting of finance ministers and central bank governors that held in Abuja.
At the end of the meeting, delegates recommended that an extraordinary general meeting of ECOWAS heads of state and governments in the West African Monetary Zone be convened to discuss the matter.
“The meeting notes with concern, the declaration by the chairman of the authority of the heads of state and government of the West African Economic and Monetary Union on December 21, 2019, to unilaterally rename the CFA Franc as Eco by 2020,” the communique read.
“WAMZ convergence council wishes to emphasise that this action (is) not in line with the decision of the authority of heads of state and government of ECOWAS for the adoption of the Eco as the name of an independent ECOWAS single currency.
“WAMZ convergence council reiterates the importance for all ECOWAS member countries to adhere to the decisions of the ECOWAS authority of heads of state and government towards the implementation of the revised roadmap of the ECOWAS single currency programme.”
- Buhari asks NASS for N147 billion refund for Ondo, four other states
- Convoy attack: Borno NASS members visit Zulum in Maiduguri
- ICPC should publish names of persons associated with missing school feeding funds – Minister
- Arewa Consultative Forum caution Vice President Yemi Osinbajo to watch his utterances
- 300 Rice Farmers in Cross River protest unpaid salaries
- States take Federal Government to the Supreme Court over funding
- Trans fat: Nigeria still on the road finalise regulation
- VP Osinbajo urges leaders of destination countries to insist on repatriation of illicit funds & their proceeds
- INEC replaces manual voting with automated voting system
- NNPC to be commercialized in new PIB draft – Minister