Audio By Carbonatix
Five English-speaking West African countries and Guinea have criticised a move to change the name of the regional currency from CFA franc to the eco.
Nigeria, Guinea, Sierra Leone, Ghana, Liberia and Gambia made the comment at the end of the West African Monetary Zone (WAMZ) meeting on Thursday.
They said they "noted with concern" the announcement on 21 December "to unilaterally rename" the CFA franc by 2020, reports AFP news agency.
They asked for an extraordinary summit of leaders of Ecowas - the West African regional group made of 15 nations - to discuss the matter, reports Bloomberg news.
The renaming of CFA franc is not "in line with the decisions of the authority of heads of state and government of Ecowas for the adoption of the 'eco' as the name of an independent single currency,” Bloomberg news quotes the group as saying.
Last year Ecowas, which includes the huge economy of Nigeria, also set the goal of creating a single currency, and also aimed to call it the eco, reports AFP.
Latest Stories
-
Farmers face rising poverty and insecurity in northern Ghana due to climate pressures
58 seconds -
Kantanka Automobile donates motorbikes, TV sets to Interior Ministry
2 minutes -
Meta says it will cut 8,000 jobs as AI spending grows
13 minutes -
OSP saga: Attorney General’s court position reflects Executive’s stance – John Darko
17 minutes -
Ablakwa slams xenophobic attacks in South Africa as ‘betrayal’ of Africans
19 minutes -
Mahama backs immigration reforms, pledges support to modernise GIS
23 minutes -
MiDA CEO pays courtesy call on Gender Minister to deepen collaboration
43 minutes -
Open Kasoa–Winneba middle carriageway in 3–4 weeks – Mahama directs contractor
49 minutes -
Akosombo Substation Fire: Energy Ministry assures swift response and public safety
50 minutes -
Food insecurity 10 times higher among uneducated households — GSS
1 hour -
1 in 5 households spend over 75% of income on food as cost pressures mount — GSS
1 hour -
South Africa expresses regret, promises probe into xenophobic attack on Ghanaians – Ablakwa
1 hour -
EU backs Ghana’s poultry scheme with 150,000 birds for 3,000 farmers
2 hours -
Pressure by CSOs on Mahama over OSP case constitutes ‘emotional blackmail’ – Dafeamekpor
2 hours -
Ghana summons South African envoy over reported xenophobic attacks
2 hours