The recent adoption of Eco as the official currency for all the francophone countries and even Ghana is too fast and there seems to be a foul play somewhere.
![](https://thenigerialawyer.com/wp-content/uploads/2026/05/2026-Summer-IDRI-Masterclass.jpg")
This delivered single currency by the ECOWAS was supposed to kick off in 2020. Unfortunately, some forces like France & UEMOA played a fast one by quickly changing the CFA Franc to ECO.
Before Nigeria is expected to take a position on this matter, there is a need to consider the following questions.
- Why did they suddenly change the name to Eco.
- Why should the Eco be pegged to the Euro.
- Why should it be France printing and minting the new currency.
According to an economic expert from black mango party, an online economic platform they are of the view that the nigeria government should also consider some certain things which are:
- Who is holding their reserve?
- Where is it been held?
- Who has access to it?
- What is the terms of the access?
It is a pity that some Nigerians are urging the federal government to follow Ghana footsteps on this matter. In Ghana case, there are things we need to consider.
2020 is an election year in Ghana,Nana Akufo will try to score cheap political points with AFCTA headquarters and taking a leadership’s role by supporting or adopting Eco as a currency for West African countries.
It is my humble opinion that it will be good for the country to study the situation before taking any position because it is obvious even to the citizens that something is fishy as regards this sudden adoption of Eco currency.
God bless Nigeria.
Toheeb Mustapha Babalola is a Pupil of Law and Student of Bayero University Kano, who is keenly interested in activism,he can be reached via +23408106244073 or toheebmustapha15@gmail.com
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