₦airaland Forum

Stalwert:
It will be highly unfortunate if this is the case. The French remain the worst of colonial powers, they refuse to let go. Please you got links on this.

EzeIgbo1:
Let me advice everyone here reading this. You can take serious advantage of this new eco move by these foolish french countries and i will show you how.

1) Nigeria long forsaw this move to adopt eco afterall we were part of those who spoke up in support of it but after some checks we decided to slow down the process and focus more on growing Nigeria by Nigeria. I thank God for that strategic move by Buhari and i will tell you why

Since they say they will peg the eco to the euro you can expect the eco to be introduced at around 5 eco to a euro because france would never allow it to be 1 to 1. Even if this is not allowed, the french countries in West Africa who would adopt this currency do not have strong enough economies to sustain the value so expect either loans from france to these countries as buffers which is not sustainable and would be solely targeted at keeping those countries in a debt trap or a gradual devaluation of same eco due to the weak economies of the countries adopting her.

So if you are into manufacturing or Agriculture this is the time for you to make it big.

The eco would only be able to be spent in the countries which adopted it and not outside it so as a Nigerian businessman who exports, start targeting these countries who will adopt this eco and convert your prices to the new value, make your money off them and save back home in Nigeria. This is to your advantage and not their advantage.

Do not import from them because you will pay heavily due to the value change but because we have a very large economy we can export to them and at their new rates.

This border closure thing was a good thing because it has opened our eyes to what we can do as Nigerians and i think we need to take it seriously. I am in Ghana right now and just want to launch a product i invented and approved by their government here for mass production and then in about 6 months i will be back in Nigeria to tap into this eco to my own advantage.

Youths get up and form cooperatives. Put your resources together and embrace farming as a group effort if you cannot do it alone. You can then work on exports of your produce as a group effort and split the proceeds quarterly.

I am an entrepreneur and recognizing opportunity is my strong side and this is a huge opportunity for the discerning mind.

They want to block out Nigeria but we can take advantage of their attempt and get their money. easy money.

RisenPhoenix:
All African countries are beholden to some ex colonial master (France, England, Portugal) or potential/aspiring colonial master (China, the US). I don't know why African countries do not seem to have the ability to throw off the yoke of slavery and just keep trying to switch from one mastah to another mastah. It is painfully pathetic.

Built2last:
See your government.

Unfortunately nobody is reviewing anything they will tag along

obama30:
Am not doubting you but let see you and Ghana who gain in whatever you hope you introduce there, Even glo network find it hard in Ghana talkless of you. before Ghana accept anything from you they have map out way to frustrate you in future ask Nigerians that have be in Ghana 20 to 25 years with heavy investment.

mrksquare:
On the contrary, the French post colonial grip on it's colonies in Africa has been a beneficial one to say the least when compared to Britain. To my mind, of all the Europeans that invaded Africa in furtherance of their conquest, the French remains the best. Britain, Belgium, Portuguese, Germany are a curse to Africa. If for nothing, the French policy of assimilating and integrating citizens of its colonies is worthy of applause.

APCNig:
So you expect Nigeria to just accept it? You must be dreaming. Nigerria is West Africa, no Nigeria, no West Africa. We closed our boarders and all West African countries are crying and weeping. So, we take the shoots and as the Chairman, we speak last. If we Nigeria do not accept it, ECOWAS will have no other choice than to also rescind its decision, else we will muzzle ECOWAS to death. And with Major General Muhammadu Buhari on the seat, Nigeria can kill the whole ECOWAS economically.

Jonasbadoo:
Naira is no longer valuable anymore tbh
I'm in Cotonou now and I can attest to that fact
#1000 is just 1600cfa
So if they switch to Eco ,then it may as well be a tie
#1:1Eco which is not nice for Nigerian economy anyway
And CBN still has plans to devalue the Naira
So no reason am

ajl:
Really? Didn't know Britain prints our dear Naira with 50% of our reserve in britain. Can you tell me the name of the Briton that seat on the board of Nigeria monetary agency or CBN.

EzeIgbo1:
Let me advice everyone here reading this. You can take serious advantage of this new eco move by these foolish french countries and i will show you how.

1) Nigeria long forsaw this move to adopt eco afterall we were part of those who spoke up in support of it but after some checks we decided to slow down the process and focus more on growing Nigeria by Nigeria. I thank God for that strategic move by Buhari and i will tell you why

Since they say they will peg the eco to the euro you can expect the eco to be introduced at around 5 eco to a euro because france would never allow it to be 1 to 1. Even if this is not allowed, the french countries in West Africa who would adopt this currency do not have strong enough economies to sustain the value so expect either loans from france to these countries as buffers which is not sustainable and would be solely targeted at keeping those countries in a debt trap or a gradual devaluation of same eco due to the weak economies of the countries adopting her.

So if you are into manufacturing or Agriculture this is the time for you to make it big.

The eco would only be able to be spent in the countries which adopted it and not outside it so as a Nigerian businessman who exports, start targeting these countries who will adopt this eco and convert your prices to the new value, make your money off them and save back home in Nigeria. This is to your advantage and not their advantage.

Do not import from them because you will pay heavily due to the value change but because we have a very large economy we can export to them and at their new rates.

This border closure thing was a good thing because it has opened our eyes to what we can do as Nigerians and i think we need to take it seriously. I am in Ghana right now and just want to launch a product i invented and approved by their government here for mass production and then in about 6 months i will be back in Nigeria to tap into this eco to my own advantage.

Youths get up and form cooperatives. Put your resources together and embrace farming as a group effort if you cannot do it alone. You can then work on exports of your produce as a group effort and split the proceeds quarterly.

I am an entrepreneur and recognizing opportunity is my strong side and this is a huge opportunity for the discerning mind.

They want to block out Nigeria but we can take advantage of their attempt and get their money. easy money.

obama30:
Am better than your president, when last do you read his write up even hear his speech. he don't even understand when common question thrown at him. even to read someone write one need translator. yet you future lays in his hand as your president. upon all your profession a known illiterate all over the world engineers your future. If i am you educated man i will dash public toilet workers my certificates than waiting for my future under leader as Buhari

post=85374543:
Nigeria never told ECOWAS that they are interested in a single currency up till this moment.
That has been going on for years now.
So won't they reply them that they will get back at them?!
Nigeria’s naira is often seen as the likely anchor currency for ECOWAS, due largely to country’s sheer economic size and political importance.
This role would be akin to the one played by the German deutsche mark in the period leading to the introduction of the euro.
Our Conclusion : The Eco will clearly not be the panacea for West Africa’s myriad problems, including high levels of unemployment, especially among the burgeoning population of youth and the increasing numbers of the poor.
The lessons from the eurozone highlight continuing challenges among a group of highly developed countries with very strong institutions.
ECOWAS will do well to heed these lessons.
Also, efforts by member states to strengthen domestic macroeconomic frameworks are important.
Concerted efforts must be made to reduce the inordinate bureaucratic delays that severely constrain exports and imports at the border.
Launching the single regional currency, the “Eco,” by December 2019 is, at best, an expensive distraction that the people of West Africa can ill afford at this particular moment.
We stand with Nigeria.
Shame on the OP that brought this rubbish here, whatever his mission was and bigger shame on the illiterates typing jargons everywhere.
Lazy tins!






It is always good and refreshing to know that we still have reasonable and intelligent people like you guys on this forum.
Compared to the illiterates and pessimistic wailers that have nothing upstairs but just take side with anything that can make the country look bad.
Ireedeemable and pathetic tins they are.
No wonder Cownu called them whatever he addresed them as!

APCNig:
So you expect Nigeria to just accept it? You must be dreaming. Nigerria is West Africa, no Nigeria, no West Africa. We closed our boarders and all West African countries are crying and weeping. So, we take the shoots and as the Chairman, we speak last. If we Nigeria do not accept it, ECOWAS will have no other choice than to also rescind its decision, else we will muzzle ECOWAS to death. And with Major General Muhammadu Buhari on the seat, Nigeria can kill the whole ECOWAS economically.

Nukilia:
Stop this unnecessary overhyping! Keep screaming while Nigerians start spending the ECO currency and dump the bastardized Naira!

Area4Area:
So Nigerians have been spending the CFA franc since we are surrounded by countries using the currency.

Remember that the switch is just the change in name, from CFA franc to Eco, Ghana will now have to deposit half of its foreign reserve with the French national reserve bank just like other countries amidst other conditions.

NNEWIsuper:
Nothing good can come out of the shithole

RisenPhoenix:
All African countries are beholden to some ex colonial master (France, England, Portugal) or potential/aspiring colonial master (China, the US). I don't know why African countries do not seem to have the ability to throw off the yoke of slavery and just keep trying to switch from one mastah to another mastah. It is painfully pathetic.

APCNig:
So you expect Nigeria to just accept it? You must be dreaming. Nigerria is West Africa, no Nigeria, no West Africa. We closed our boarders and all West African countries are crying and weeping. So, we take the shoots and as the Chairman, we speak last. If we Nigeria do not accept it, ECOWAS will have no other choice than to also rescind its decision, else we will muzzle ECOWAS to death. And with Major General Muhammadu Buhari on the seat, Nigeria can kill the whole ECOWAS economically.

gloriaunobi:
That's not my problems but how do I migrate to Canada

mrksquare:
On the contrary, the French post colonial grip on it's colonies in Africa has been a beneficial one to say the least when compared to Britain. To my mind, of all the Europeans that invaded Africa in furtherance of their conquest, the French remains the best. Britain, Belgium, Portuguese, Germany are a curse to Africa. If for nothing, the French policy of assimilating and integrating citizens of its colonies is worthy of applause.

PapaIwota:
[s][/s]

Stalwert:
We don't have a great vision driving our continent. Just make man chop we Sabi.

Danwakae:
You are off points


Read those two communique abi letter again

alamarmeen:
so what do u expect....
the way some people here understand issues both national and international is very pathetic to say the least.
France have already hijacked the eco of a thing. there are numerous write up(s) on it and how so.
Do u seriously think France will let go of over 500billion just like that without a fight...what France did was to preempt Nigeria's moves using their stooge in Ivory Coast.
As for Ghana their they are non starter...they are just after anything that they know Nigeria is or will be against.. they lack the weight to set the terms in W/Africa sub region.

You are on point man, Africa is still under colonialism,including Nigeria. Let's not deceive ourselves

kushercain:
They don't mess with Algeria anymore not with Egypt Morocco and co there to contend with. Unfortunately opposite is the case in west Africa that's why their whole focus is on us.

Caustic001:
Culled and translated from a french website :

What is happening with the eco is that the heads of state of the ECOWAS have noted that this currency will have a flexible exchange rate regime. This means that countries like Ghana and Nigeria, which are used to this exchange rate regime, will be the locomotives of the eco. The specific problem of Nigeria is that it is never in the same phase of the economic cycle as the other countries of the ECOWAS, because it is an oil exporter, while the others are rather oil importers. What makes that there is always this reluctance compared to the optimality of the future monetary policy of the Cédéao space. And then there is a second thing that makes Nigeria often reluctant, is that it realizes that it is going to have to be the lender of last resort for the eco, since its GDP still represents 70% of that of the ECOWAS, with a population which is half of this sub-region. And so, it is not always certain that Nigeria is ready to play this role of lender of last resort, with what that implies in terms of budgetary solidarity and the transfer of resources to smaller economies.

A few days ago, the Nigerian Minister of Finance said that the announced deadline for the birth of the eco in 2020 would not be met, because all the convergence criteria are practically met by only one of the 15 member countries of ECOWAS: Togo. What is your comment?

EzeIgbo1:
Na to open your head put intelligence inside remain because one little sense no dey for Inside.

The Ghanaian currency Is a false one. A farcade. You claim it is 5.7 cedi to a dollar when in reality if the zeros were not removed it would have been 570 cedis to a dollar because they removed 2 zeros. This means the real value remains at 570 cedis to a dollar despite the paper money saying 5.7 cedis to a dollar.

This is why this paper value can never defeat the real value and it explains why their purchasing power is very week and as good as useless

Stalwert:
I don't see how throwing entire countries into economic servitude can be termed assimilation.