Business & Finance

Eco currency: Nigeria’s position still not change – Onyeama

By Oluwaseun Sonde

Nigeria’s Foreign Minister, Geoffrey Onyeama has said that on Eco currency, nothing has changed in respect of Nigeria’s position, which was the convergence criteria have not been met by majority of the countries, therefore there has to be an extension of time on the take-off of the single currency.

The position was made known to Journalists at the decision to set up committee which was agreed Sunday night in Addis Ababa, Ethiopia, at an extraordinary session of ECOWAS leaders convened on the margins of the 33rd AU Summit to discuss the issue and other pressing regional matters.

The three-hour closed door session meeting attended by President Buhari and chaired by the ECOWAS Chairman, President Mahamadou Issoufou of Niger Republic, discussed West Africa′s new single currency, the Eco, the situation in Guinea Bissau after the presidential election and Nigeria’s land border closure.

On border closure, authority of ECOWAS Heads of State and Government has constituted a committee, headed by President Roch Marc Christian Kabore of Burkina Faso, to study and make a full report on Nigeria’s land border closure with her neighbours.

‘‘The President of Burkina Faso is charged with undertaking a full study of the situation, make a report and then we take it from there.’’ When is the report will be presented to ECOWAS Heads of State and Government? he replied: ‘‘As soon as possible, there are no timelines. But he is supposed to start very quickly, study the situation from all the affected countries and present his report”, Onyeama said.

On Guinea Bissau, the Minister said ECOWAS leaders recognized that there was an appeal of the presidential election result and they are waiting for the Supreme Court decision on the matter.

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