₦airaland Forum

engrsyer:
Naira is shit. Let's migrate joor

Though the "eco" current doesn't look beautiful and too large in size

AllNews1:
As many as 15 countries in West Africa have agreed to adopt a single currency, called ECO, in 2020.

Experts are divided on the effect it would have on the region's economy, especially in the eight member states that use the French-backed CFA franc.

Nigeria is essentially kept out of the currency because the country will not accept the conditionalities established by France. Having the biggest economy in Africa, Nigeria wants to remain the best, why the country is still having a second thought on the Eco new currency.

The long delay in establishing the Eco has been caused by the inability of the 15 ECOWAS countries to meet the convergence criteria they set for themselves.


READ MORE: https://www.thewatchngr.com/2020/01/why-nigeria-can-not-adopt-new-west.html

engrsyer:
Naira is shit. Let's migrate joor

Though the "eco" current doesn't look beautiful and too large in size

urahara:
The person who wrote this writeup is a very big idiot. Nigeria can't use the eco not because if France but because of it has failed to meet the convergence criteria.

Area4Area:
Aside Togo, no other country in ECOWAS met all the conditions and convergence criteria.
Nigeria won't join any longer because if Nigeria does now, France would be determining our fiscal policies.

Area4Area:
Have you asked yourself this very simple question, why is it that countries in ECOWAS that use the CFA are not better off than those who don't use?

tck2000:
Using the Naira as our currency while being eweak would help us if we want to be an industrialized Nation.i.e a China Copy-cat.Produce cheaply and sell in bulk making our goods the preferred choice.

urahara:
Didn't u read that France is no longer part of the board of central bank of West African countries ?

urahara:
Countries using the cfa have low inflation rates and interest rates.Other West African countries like Nigeria always have roaring double digits inflation.

urahara:
Countries using the cfa have low inflation rates and interest rates.Other West African countries like Nigeria always have roaring double digits inflation.

urahara:
The person who wrote this writeup is a very big idiot. Nigeria can't use the eco not because if France but because of it has failed to meet the convergence criteria.

Area4Area:
Didn't you know the notes and coins would still be printed in France and the currency would still be hooked to the Euro through France? Why can't France allow the currency to be printed in West Africa and the value to be determined by the participating countries?

urahara:
Post a link for the above