Nigeria and Ghana have reacted differently to the recently announced ECO as ECOWAS single currency by the President of the West African Economic and Monetary Union. Nigeria in its own reaction said “Nigeria has received the news of the Change of name of the UEMOA currency the CFA (Communate Financiere d’ Afrique) to ECO supposedly as the ECOWAS single currency. Nigeria is Studying the situation and would respond in due course”. Ghana however said it has taken notice of the declaration and is considering joining soon.
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