Six West African countries have criticised what the changes of the regional CFA Franc currency to Eco, saying its not in line with what was agreed for the adoption of a single regional currency. Members of the West African Monetary Zone (WAMZ) Convergence Council said they “noted with concern” the December 21 announcement “to unilaterally rename” the CFA franc, used by eight countries, as the Eco by 2020.
The move “is not in line” with plans by regional bloc ECOWAS to adopt a single currency also called the Eco, they said in a statement issued after talks in the Nigerian capital Abuja.
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