Four West African presidents have as of late unveiled their plans to make a future money that would supplant the prevailing CFA Franc in the 15-nation ECOWAS coalition by 2020. As indicated by a joint explanation.
“Our district needs this binding together instrument, an image of our common predetermination, to merge our traditions union,” ECOWAS administrator and Togolese President Faure Gnassingbe said on Twitter
The statement endorsed by the presidents of Togo, Ghana, Niger and Ivory Coast who form part of a task force on the envisaged currency, further noted that a committee will be set up for this purpose.
The Nigerian president has, however, warned against this action.
“Nigeria will caution against any position that pushes for a fast-track approach to the monetary union while neglecting fundamentals and other pertinent issues,” said Muhamadu Buhari.