The federal government has officially received the notice for the adoption of a single currency by the Economic Community of West African States (ECOWAS).
Special adviser to the Minister of Finance, Budget and National Planning, Yunusa Abdullahi confirmed this development in a statement on Monday.
“Nigeria has received the news of the change of name of the UEMOA Currency, the CFA, (Communauta Financiere d’Afrique to Eco supposedly as ECOWAS Single Currency,” Abdullahi said.
He, however, stated that Nigeria is studying the situation and would respond in due course.
Nigeria is among the 15 countries that form the ECOWAS.