Tag: eco currency
Nigeria’s President Mohammadu Buhari has expressed displeasure about Francophone West Africa’s adoption of the Eco in replacement for its CFA Franc ahead of other ECOWAS Member States. Buhari says it was a matter of concern that people with whom others wished to go into a union were taking major steps without trusting their counterparts for discussions. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa for more.
The eight member states of the West African Economic and Monetary Union (Waemu) and France have agreed to rename the CFA franc and implement a range of reforms to the long-standing regional currency.