President Muhammadu Buhari on Tuesday, caution that the ambition for Eco regional currency could be in serious jeopardy unless member states agreed with processes of reaching the collective goals.
President buhari in a statement by his Special Adviser on Media and Publicity, Femi Adesina said that the President urge member states to comply with the agreed processes in order to reach the goal set in achieving the ECOWAS common currency plan.
The President also expressed concern over the decision of francophone countries which forms the Western African Economic and Monetary Union, UEMOA to replace the CFA Franc with Eco currency ahead of the rest of Member States.
President Muhammadu Buhari who delivered Nigerian position on the new regional currency at a visual meeting of the authority of Heads of State and Government of West African Monetary Zone,WAMZ.
” your excellencies, you are all familiar with the history of the Eco thus far, so I will not bother you with that. We reverted to a single track approach given 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 the model of common Central Bank and the symbol.
” we have urge our Ministers towards an expeditious path to success. it therefore gives me an uneasy feeling that UEMOA Zone now wishes to take up the Eco in replacement for its CFA Franc ahead of the rest of the Member States.
“I am informed that the French Minister has approved a bill to reform CFA Franc and most, if not all of the UEMOM member States have already passed legislations in their various Parliaments to that effect.
” it is a matter of concern that people with whom we have to go into a union and taking this major steps without trusting us for discussion ” the president said
President Muhammadu Buhari however assured ECOWAS leaders of Nigerians commitment and readiness for the single currency and urge all other leaders to consider the recommendations made by the Convergence council and take a common position in order to safeguard the West African Monetary Zone.
Ibukunoluwa Temitope
President Muhammadu Buhari on Tuesday, caution that the ambition for Eco regional currency could be in serious jeopardy unless member states agreed with processes of reaching the collective goals.
President buhari in a statement by his Special Adviser on Media and Publicity, Femi Adesina said that the President urge member states to comply with the agreed processes in order to reach the goal set in achieving the ECOWAS common currency plan.
The President also expressed concern over the decision of francophone countries which forms the Western African Economic and Monetary Union, UEMOA to replace the CFA Franc with Eco currency ahead of the rest of Member States.
President Muhammadu Buhari who delivered Nigerian position on the new regional currency at a visual meeting of the authority of Heads of State and Government of West African Monetary Zone,WAMZ.
” your excellencies, you are all familiar with the history of the Eco thus far, so I will not bother you with that. We reverted to a single track approach given 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 the model of common Central Bank and the symbol.
” we have urge our Ministers towards an expeditious path to success. it therefore gives me an uneasy feeling that UEMOA Zone now wishes to take up the Eco in replacement for its CFA Franc ahead of the rest of the Member States.
“I am informed that the French Minister has approved a bill to reform CFA Franc and most, if not all of the UEMOM member States have already passed legislations in their various Parliaments to that effect.
” it is a matter of concern that people with whom we have to go into a union and taking this major steps without trusting us for discussion ” the president said
President Muhammadu Buhari however assured ECOWAS leaders of Nigerians commitment and readiness for the single currency and urge all other leaders to consider the recommendations made by the Convergence council and take a common position in order to safeguard the West African Monetary Zone.
Ibukunoluwa Temitope
