NIGERIA REQUESTED SATISFACTION OF 5 CONDITIONS BEFORE SHE WILL ADOPT THE ECO CURRENCY FOR ECOWAS

NIGERIA REQUESTED SATISFACTION OF 5 CONDITIONS BEFORE SHE WILL ADOPT THE ECO CURRENCY FOR ECOWAS

Finance Pan Africanism

The Nigerian government has requested the satisfaction of 5 conditions to make them convince to join the adoption of the ECO, to ensure it not another form of colonialism by the French on them.

After the October 2019 African finance minister conference that took place in Abuja Nigeria, memmbers of the ECOWAS (Economic Community of West African States) presented a project that will allow all member state belonging to ECOWAS adopt a single currency called ECO to be implemented by January 2020. However, any member considered fit for the adoption is supposed to fulfil certain criterials to enable them eligible for the adoption.

Decisions made in a meeting between French President and Ivory Coast President about the ECO currency

The French-backed currency Franc CFA was established in 1945 and initially pegged to the French franc but has been linked to the euro for about two decades. Former French colonies Benin, Burkina Faso, Ivory Coast, Mali, Niger, Senegal and Togo still use the currency, as does Guinea-Bissau.

The currency will be renamed the “eco” next year 2020 and French officials will no longer be represented on its governing bodies, Ouattara said. In addition, a requirement that the eco’s member states keep half their foreign reserves in France will be rescinded.

The currency will remain pegged to the euro, guaranteeing its stability, Ouattara said.

 

Macron and France’s Minister of Economy Bruno Le Maire both described the reform as “historic”, with Macron pledging: “The eco will see the light of day in 2020.”

READ  HOW MISSIONARIES SPREAD FALSE CHRISTIANITY TO AFRICANS AS INSTRUCTED BY KING LEOPOLD II OF BELGIUM

Nigeria requested the satisfaction of 5 conditions before she will join the ECO new currency:

Nigeria seemingly not satisfied with the outcome of the meeting between presidents of France and Ivory Coast, nor even the involvement of France in the adoption process of the ECO currency, sees it as another form of colonialism given the fact that they have been enjoying their independent currency (The Naira) for a very long period of time now. As a result of this, these five prerequisites where brought forward to ensure the security of Nigeria and the ECO currency from French manipulations.
1) No deposits or curtailment in the FRENCH treasury.
2) No convertibility intermediaries between the ECO. EURO AND DOLLAR.
3) ECOWAS must manage Eco independently.
4) ECO must be convertible with all other currencies freely.
5) Eco must be printed in Africa
  •  
  •  
  •  
  •  
  •  
  •  
 

Sharing is caring…

Related posts:

HOW TO PLAN YOUR BUDGET TO ATTAIN FINANCIAL FREEDOM
4 Powerful Ways to Develop Your African Spirituality Now
How To Overcome The Spirit Of Poverty And Debt
10 Basic Principles of Financial Management
White Motel Manager Poured Acid In Water While Blacks Swam In Pool In 1964
10 Best Insurance Tips for 2020
Pope admits clerical abuse of nuns including sexual slavery
Why is my gas and electricity bill so high?
Why Do Africans Show Solidarity For Crisis In Europe But White People Don’t For Africa?
4 African Kings Who Ruled India That Have Been Erased From History
7 ACTUAL REASONS WHY AFRICANS ARE POOR
HOW TO BUILD WEALTH AND GET RICH
5 THINGS YOU NEED TO DO FOR A FINANCIAL BREAKTHROUGH
Exposed: The Global Agenda To Prevent The Rise Of A Black Messiah
MONEY ALLOCATION FOR SUCCESSFUL LIVING
4 Key Secrets Of Investment To Become Successful
I wonder how the whites successfully convinced the Africans that polygamy is a sin but gay is a right?
22 MOST INTERESTING MUGABE WISDOM TO ACTIVATE YOUR BRAIN
Pan-Africanism is Africa’s Avenue to Success – Without unity Africa has no future
Beau Brummell Is Dead: South Africa's King Of Nudity Dies (Photos)
THE IMPORTANCE OF PROBLEMS IN ACHIEVING SUCCESS
Over 3,000 sign Petition Approving Dr Arikana & PLO Lumumba as AU Commission Chair & Deputy
8 Ways to Get the Cheapest Car Insurance Rates Possible
How To Become Rich by Prophet Shepherd Bushiri – Major 1
THE PAINFUL TRUTH BEHIND THE MORAL OF GETTING RICH
11 SECRETS TO BECOMING RICH, SUCCESSFUL, AND HAPPY
5 ways to innovate education in Africa
List Of Lies Europeans Told About Africa – How Many Did You Fall For?
14 TIPS TO BECOME HAPPIER AND MORE SUCCESSFUL
7 Unresolved mysteries on DJ Arafat's death
13 MONEY MISTAKES YOU MUST AVOID IF YOU WANT TO BE SUCCESSFUL
[VIDEO] How Africa Is Kept Poor In The Eyes Of The World By The West

Leave a Reply

Your email address will not be published. Required fields are marked *