Nigeria wants launch of West Africa’s Eco currency delayed [Business]


This week in business on The Morning Call, Amelia Martha Nakitimbo looks at Nigeria’s call for a delay in the launch of the West African single currency.


The Nigerian Presidency in a tweet sent out on Monday “the convergence criteria between states” which have “not been met by the majority of countries.”

Meeting the convergence criteria has been a sort of glass ceiling hindering the realisation of this single currency over the last twenty years.

Also this week, Ghanaian President, Nana Akufo-Addo assured his counterparts that the Secretariat of the African Continental Free Trade Area will be operational by the 31st of March, 2020.

In a closed door session during the during the 33rd AU Summit in Addis Ababa, Ethiopia, President Akufo-Addo indicated that the premises have been already been furnished based on the specific requirements agreed with the AU Commission including the installation of critical Data and IT Infrastructure facilities and Security Systems.

The summit voted South Africa’s Wamkele Mene to be the first head of the AfCFTA Secretariat.



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