Six English-speaking countries of the Economic Community of West African States (ECOWAS) have rejected the Eco currency adopted by eight francophone countries.
Eight countries namely Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo, had in December announced that they would be changing from the CFA Franc to Eco through their union, West African Economic and Monetary Union.
It would be recalled that the single currency policy was adopted through the West African Economic and Monetary Union after a decision at a council meeting of finance ministers and central bank governors that held in Abuja.
This was followed by an extraordinary general meeting of ECOWAS heads of state and governments in the West African Monetary Zone convened to discuss the matter.
#ECO #CFA #ECOWAS #WAZO #Naira
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