Eco: Buhari delivers Nigeria’s position on regional currency
President Buhari also expressed concern over the decision of francophone countries that form the West African Economic and Monetary Union to replace the CFA Franc with Eco ahead of the rest of member states.
‘‘Your Excellencies, you all are familiar with the history of the Eco thus far, so I will not bore you with that. We reverted to a single track approach, giving up Eco which is the original idea of the WAMZ so the ECOWAS-wide programme could thrive.‘‘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.‘‘It is a matter of concern that a people with whom we wish to go into a union are taking these major steps without trusting us for discussion,’’ he said.
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