The Presidency of the Federal Republic of Nigeria has declared the country’s position on the Eco Currency.

The Eco is the proposed name for the common currency that the West African Monetary Zone plans to introduce in the framework of the Economic Community of West African States. After its introduction, the aim is to replace the West African CFA franc with the new currency.

It disclosed this on Monday, February 10th, 2020 in a tweet made via its official Twitter handle, “@NGRPresident”:

Nigeria’s position on the ECO Currency is that the convergence criteria have not been met by majority of the countries. There therefore has to be an extension of time on the take-off of the single currency.

Nigeria’s position on the ECO Currency is that the convergence criteria have not been met by majority of the countries. There therefore has to be an extension of time on the take-off of the single currency.

— Presidency Nigeria (@NGRPresident) February 10, 2020

Justin Nwosu

Justin Nwosu is the founder and publisher of Flavision. His core interest is in writing unbiased news about Nigeria in particular and Africa in general. He’s a strong adherent of investigative journalism, with a bent on exposing corruption, abuse of power and societal ills.