The Federal Government says it is studying the situation on change of West African Economic and Monetary Union, UEMOA currency, Eco, to be used as ECOWAS single currency.
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The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, made this known in a statement by Yunusa Abdullahi, her Special Adviser, Media and Communication, in Abuja.
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Eight West African countries have agreed to change the name of their common currency to Eco, thereby effectively severing the CFA franc’s links to former colonial ruler France.
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The countries include Benin republic, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo with Ahmed saying Nigeria as a country would respond in due course.