Re: ECOWAS Adopts ECO As A Single Currency by minasota(f): 7:18pm On Jul 02, 2019 |
Eco |
Re: ECOWAS Adopts ECO As A Single Currency by HumanHairLovers(f): 7:18pm On Jul 02, 2019 |
Well well |
Re: ECOWAS Adopts ECO As A Single Currency by Halo22: 7:19pm On Jul 02, 2019 |
My question on this is, whether the currency will take over our local naira? If yes, then it's a welcome development cos our naira is as useless as the letter G in gmelina. 4 Likes 2 Shares |
Re: ECOWAS Adopts ECO As A Single Currency by chloride6: 7:19pm On Jul 02, 2019 |
Pipe dream
In as much as the treasuries of the francophone countries remains tied to France. 1 Like |
Re: ECOWAS Adopts ECO As A Single Currency by emma321(m): 7:19pm On Jul 02, 2019 |
Wow, My question on this is, whether the currency will take over our [url=noisemakers.com.ng]local naira? [/url]I |
Re: ECOWAS Adopts ECO As A Single Currency by Nobody: 7:19pm On Jul 02, 2019 |
H |
Re: ECOWAS Adopts ECO As A Single Currency by taretoofine(m): 7:20pm On Jul 02, 2019 |
nigeria inflation is more than 10% so we are out of Eco oh ghadaffi! 1 Like |
Re: ECOWAS Adopts ECO As A Single Currency by Eavy(m): 7:20pm On Jul 02, 2019 |
I won't touch their sh*t naira again. Me I go change my name to Eco Marley. 1 Like |
Re: ECOWAS Adopts ECO As A Single Currency by splendour7(m): 7:20pm On Jul 02, 2019 |
Ecosystem Or Ecology?? 1 Like |
Re: ECOWAS Adopts ECO As A Single Currency by Benekruku(m): 7:21pm On Jul 02, 2019 |
Eavy: I won't touch their sh*t naira again. Me I go change my name to Eco Marley. Trademark that name. |
Re: ECOWAS Adopts ECO As A Single Currency by Nobody: 7:22pm On Jul 02, 2019 |
datigbogirl: Wanna copy Euro why not call it Afro? Which one be Eco? Eco ko Eko hotels ni... west Africa not the whole of Africa 7 Likes |
Re: ECOWAS Adopts ECO As A Single Currency by OffIcialklly: 7:23pm On Jul 02, 2019 |
Elemosho478: Countries within the West African sub-region will be able to use a single currency from January 2020
The currency which is called ECO was adopted by the Authority of ECOWAS Heads of State and Government on Saturday in Nigeria’s capital Abuja.
The West African leaders endorsed the currency at their 55th Ordinary Session and approved a road map towards the currency’s issuance in January 2020.
There roadmap is to ensure that all member countries meet three primary criteria for the adoption of the currency.
The criteria for adoption includes member countries having a budget deficit of not more than 3%; average annual inflation of less than 10% with a long-term goal of not more than 5% by 2019.
Member countries were also expected to have gross reserves that can finance at least three months of imports.
The other convergence criteria that have been adopted by ECOWAS are public debt or Gross Domestic Product of not more than 70%.
There is also the issue of central banks financing budget deficit not more than 10% of previous year’s tax revenue, and nominal exchange rate variation of plus or minus 10%.
A communiqué by Nigeria’s Permanent Secretary, Ministry of Foreign Affairs, Mustapha Suleiman said that the regional leaders instructed the ECOWAS Commission to work in collaboration with West African Monetary Agency.
The commission is also expected to work with West African Monetary Institute and all central banks to settle on a symbol for the single currency.
Meanwhile, the ECOWAS Chairman President Issoufou Mahamadou said that the revised roadmap does not affect the date for the issuance of the single currency in January 2020.
He said “We have not changed that but we will continue with assessment between now and then.
“We are of the view that countries that are ready will launch the single currency and countries that are not yet ready will join the programme as they comply with all six convergence criteria,” he added.
ECOWAS was set up in 1975 and has a combined population of 385 million.
It comprises Benin, Burkina Faso, Cape Verde, Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.
Eight of these countries use one currency called the CFA franc. Those are Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo.
The decision to adopt one currency is similar to that of the European Union to adopt a single currency called Euro.
https://www.pulse.ng/bi/finance/ecowas-finally-adopts-eco-as-a-single-currency/dmfx7bt
See as the idiot dey stand...infact the idiot should go and die Biko make we kukuma see road. |
Re: ECOWAS Adopts ECO As A Single Currency by OhiOfIhima: 7:24pm On Jul 02, 2019 |
PrinceKevin01: Finally, these dudes has Africa under their Badge!
Note! Not Every Gift is a gift
Anyway, i will Build a Professional Logo or Company for your Product or Company For 1k. Offer valid today only. See my info below Really |
Re: ECOWAS Adopts ECO As A Single Currency by DameB(f): 7:26pm On Jul 02, 2019 |
Kkshanana90:
Mostly in our advantage. On the whole, it is great for the sub-regional organization. Anything that is good for ECOWAS is especially good for Nigeria.
It’ll also ensure monetary independence for the French-Speaking ECOWAS member states if they adopt the currency.
Ok. So what happens to the naira |
Re: ECOWAS Adopts ECO As A Single Currency by Solosolojohquay: 7:27pm On Jul 02, 2019 |
No they can't call it Afro like euro because only west Africa region are involved not all Africa continent 15 of the countries in Africa situated in west region eco is from ECOWAS economy community of west African states. |
Re: ECOWAS Adopts ECO As A Single Currency by Nobody: 7:28pm On Jul 02, 2019 |
The currency would've been more powerful if it involved all African countries but this is a good start though. |
Re: ECOWAS Adopts ECO As A Single Currency by Davoo(m): 7:28pm On Jul 02, 2019 |
Endtime Currency! |
Re: ECOWAS Adopts ECO As A Single Currency by blank(f): 7:29pm On Jul 02, 2019 |
What happened to the WAUA? Was that not the same thing? It died a natural death now they have brought up ECO. |
Re: ECOWAS Adopts ECO As A Single Currency by klever18(m): 7:29pm On Jul 02, 2019 |
good |
Re: ECOWAS Adopts ECO As A Single Currency by klever18(m): 7:30pm On Jul 02, 2019 |
Halo22: My question on this is, whether the currency will take over our local naira? If yes, then it's a welcome development cos our naira is as useless as the letter G in gmelina. naira will still be a legal tender also |
Re: ECOWAS Adopts ECO As A Single Currency by Nobody: 7:30pm On Jul 02, 2019 |
This is why the US killed Gaddafi. |
Re: ECOWAS Adopts ECO As A Single Currency by charliejose: 7:31pm On Jul 02, 2019 |
My own observation is that Nigeria is more populated than other West African states combined! Choi! |
Re: ECOWAS Adopts ECO As A Single Currency by LAYINZOMO(m): 7:31pm On Jul 02, 2019 |
a better development
hope it will be equivalent to euroa better development
hope it will be equivalent to euroa better development
hope it will be equivalent to euro |
Re: ECOWAS Adopts ECO As A Single Currency by Drshobz(m): 7:32pm On Jul 02, 2019 |
post=79880676: Nigeria, whose oil-dependent economy accounts for two-thirds of the region's GDP, would likely dominate a future monetary zone and has so far been sceptical about its benefits.
Economists compare the "Nigeria factor" to Germany's dominance in the eurozone, questioning whether sometimes disparate economies with varying levels of debt and deficits can successfully share the same currency.
The multi-year eurozone debt crisis, was proof that single currencies -- when badly implemented -- can have a catastrophic economic impact.
West African single currency should not necessarily be the top priority.
[color=#006600][/color] view on this : You should first improve the implementation of existing ECOWAS trading agreements, then improve the physical infrastructure, The third more pressing issue would be the ability to trade in every country's native currency, without using a third currency like euro or dollars.
always careful not to criticize or vilify ur boss the dull.ardinho. thumbs up to u 1 Like |
Re: ECOWAS Adopts ECO As A Single Currency by Barblow(m): 7:32pm On Jul 02, 2019 |
What about the enslavement of the francophone countries by France? |
Re: ECOWAS Adopts ECO As A Single Currency by MANNABBQGRILLS: 7:33pm On Jul 02, 2019 |
3 Likes |
Re: ECOWAS Adopts ECO As A Single Currency by AdolfHitlerxXx: 7:35pm On Jul 02, 2019 |
Halo22: My question on this is, whether the currency will take over our local naira? If yes, then it's a welcome development cos our naira is as useless as the letter G in gmelina. If or when the ECO comes on board,
You will beg and wish for the days of Naira.
Seems you guys don't know how terrible the rest of the economies of MOST ECOWAS countries are. 6 Likes |
Re: ECOWAS Adopts ECO As A Single Currency by Ugosample(m): 7:36pm On Jul 02, 2019 |
Kkshanana90:
Mostly in our advantage. On the whole, it is great for the sub-regional organization. Anything that is good for ECOWAS is especially good for Nigeria.
It’ll also ensure monetary independence for the French-Speaking ECOWAS member states if they adopt the currency.
This is a bad move but many cannot see it 3 Likes |
Re: ECOWAS Adopts ECO As A Single Currency by Dipsong: 7:37pm On Jul 02, 2019 |
Elemosho478: Countries within the West African sub-region will be able to use a single currency from January 2020
The currency which is called ECO was adopted by the Authority of ECOWAS Heads of State and Government on Saturday in Nigeria’s capital Abuja.
The West African leaders endorsed the currency at their 55th Ordinary Session and approved a road map towards the currency’s issuance in January 2020.
There roadmap is to ensure that all member countries meet three primary criteria for the adoption of the currency.
The criteria for adoption includes member countries having a budget deficit of not more than 3%; average annual inflation of less than 10% with a long-term goal of not more than 5% by 2019.
Member countries were also expected to have gross reserves that can finance at least three months of imports.
The other convergence criteria that have been adopted by ECOWAS are public debt or Gross Domestic Product of not more than 70%.
There is also the issue of central banks financing budget deficit not more than 10% of previous year’s tax revenue, and nominal exchange rate variation of plus or minus 10%.
A communiqué by Nigeria’s Permanent Secretary, Ministry of Foreign Affairs, Mustapha Suleiman said that the regional leaders instructed the ECOWAS Commission to work in collaboration with West African Monetary Agency.
The commission is also expected to work with West African Monetary Institute and all central banks to settle on a symbol for the single currency.
Meanwhile, the ECOWAS Chairman President Issoufou Mahamadou said that the revised roadmap does not affect the date for the issuance of the single currency in January 2020.
He said “We have not changed that but we will continue with assessment between now and then.
“We are of the view that countries that are ready will launch the single currency and countries that are not yet ready will join the programme as they comply with all six convergence criteria,” he added.
ECOWAS was set up in 1975 and has a combined population of 385 million.
It comprises Benin, Burkina Faso, Cape Verde, Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.
Eight of these countries use one currency called the CFA franc. Those are Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo.
The decision to adopt one currency is similar to that of the European Union to adopt a single currency called Euro.
https://www.pulse.ng/bi/finance/ecowas-finally-adopts-eco-as-a-single-currency/dmfx7bt
Belief these fools at your own peril some of them have never achieved not a single goal as a leader in their various countries. Vision 2020 lol 3 Likes |
Re: ECOWAS Adopts ECO As A Single Currency by Ugosample(m): 7:37pm On Jul 02, 2019 |
AdolfHitlerxXx:
If or when the ECO comes on board,
You will beg and wish for the days of Naira.
Seems you guys don't know how terrible the rest of the economies of MOST ECOWAS countries are. don't mind them guinea guinea Bissau mali niger Liberia Sierra Leone all using the same currency with Nigeria and Nigeria agreed to this foolishness? Damn 6 Likes |
Re: ECOWAS Adopts ECO As A Single Currency by Vcent50: 7:38pm On Jul 02, 2019 |
No be only eco, na ecobank |
Re: ECOWAS Adopts ECO As A Single Currency by wink2015(m): 7:39pm On Jul 02, 2019 |
Elemosho478: Countries within the West African sub-region will be able to use a single currency from January 2020
The currency which is called ECO was adopted by the Authority of ECOWAS Heads of State and Government on Saturday in Nigeria’s capital Abuja.
The West African leaders endorsed the currency at their 55th Ordinary Session and approved a road map towards the currency’s issuance in January 2020.
There roadmap is to ensure that all member countries meet three primary criteria for the adoption of the currency.
The criteria for adoption includes member countries having a budget deficit of not more than 3%; average annual inflation of less than 10% with a long-term goal of not more than 5% by 2019.
Member countries were also expected to have gross reserves that can finance at least three months of imports.
The other convergence criteria that have been adopted by ECOWAS are public debt or Gross Domestic Product of not more than 70%.
There is also the issue of central banks financing budget deficit not more than 10% of previous year’s tax revenue, and nominal exchange rate variation of plus or minus 10%.
A communiqué by Nigeria’s Permanent Secretary, Ministry of Foreign Affairs, Mustapha Suleiman said that the regional leaders instructed the ECOWAS Commission to work in collaboration with West African Monetary Agency.
The commission is also expected to work with West African Monetary Institute and all central banks to settle on a symbol for the single currency.
Meanwhile, the ECOWAS Chairman President Issoufou Mahamadou said that the revised roadmap does not affect the date for the issuance of the single currency in January 2020.
He said “We have not changed that but we will continue with assessment between now and then.
“We are of the view that countries that are ready will launch the single currency and countries that are not yet ready will join the programme as they comply with all six convergence criteria,” he added.
ECOWAS was set up in 1975 and has a combined population of 385 million.
It comprises Benin, Burkina Faso, Cape Verde, Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.
Eight of these countries use one currency called the CFA franc. Those are Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo.
The decision to adopt one currency is similar to that of the European Union to adopt a single currency called Euro.
https://www.pulse.ng/bi/finance/ecowas-finally-adopts-eco-as-a-single-currency/dmfx7bt
The Central Bank of Nigeria which is the apex bank in Nigeria need to spell out the operational method as it relates to our national currency that is the naira and kobo. |