President Buhari, who assured ECOWAS leaders of Nigeria’s commitment to the ECOWAS single currency.
President Muhammadu Buhari on Tuesday cautioned that the ambition for Eco regional currency could be in ‘serious jeopardy,’ unless member states complied with agreed processes of reaching the collective goal.West African Economic and Monetary Union The president delivered Nigeria’s position on the new regional currency at a virtual extraordinary meeting of the Authority of Heads of State and Government of the West African Monetary Zone .
‘‘In this regard, we have made remarkable progress including the adoption of the Exchange Rate regime, the name and model of the common Central Bank and the symbol. ‘‘I am informed that the French Ministers have approved a bill to reform the CFA Franc and most, if not all of the UEMOA Member States, have already passed legislations in their various Parliaments to that effect.
He affirmed Nigeria’s support for a monetary union with the right fundamentals, which guarantees credibility, sustainability and overall regional prosperity and sovereignty.
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