Since 1945, the CFA franc has been the currency used by French colonies, and the usage of the currency continued after independence. Benin President Patrice Talon revealed that the West African Monetary Union has unanimously agreed to take back control of its currency, withdrawing foreign reserves of the West African CFA from France. The move has been welcomed across the continent.



Benin Republic’s President Patrice Talon announced that the West African Monetary Union wanted to take back control of its currency. A unanimous agreement was reached by the eight African countries – whose foreign reserves are kept in France – to pull the reserves of their CFA franc from France. The countries which include Togo, Burkina Faso, Mali, Senegal, Ivory Coast, Niger and Guinea Bissau all use the French regulated francs.

The Franc which is used by 155 million people on the continent across 14 African countries is one of the colonial relics in many French colonised countries. This is the first time that a president has announced the withdrawal of the West African CFA Franc from France.”

President Talon said, “we now unanimously agree that this model needs to end. The Central Bank of the West African Monetary Union will manage all of the currency reserves and will dispatch them to the different partner central banks across the world.”

The CFA is divided into two, the Economic and Monetary Community of Central Africa (CEMAC) which includes Chad, Cameroon, Central African Republic, Gabon, Equatorial Guinea and Republic of Congo. And the West African Economic and Monetary Union (WAEMU) which includes Senegal, Guinea-Bissau, Mali, Ivory Coast, Burkina Faso, Togo, Benin Republic, and Niger.

The CFA franc has always been condemned for its representation of neo-colonialism. This new announcement has been received with positive reactions and paves the way for further integration of the continent.




https://listwand.com/west-african-cfa-franc-nations-plan-to-take-back-control-of-its-currency-from-france/

Were they sleeping before?

Na Cameroon I pity pass. na Macron dey rule them indirectly.

FrLukas:
Were they sleeping before?
Na Cameroon I pity pass. na Macron dey rule them indirectly.

Macron rules all French Nations in Africa..

tstx:


Macron rules all French Nations in Africa..

He sure does from the look of things.

I blame the people of those countries.

I used to think Nigerians were docile.

These ones are just sheep being led to the French slaughter house.

Kudos to the likes of Arikana Chihombori for these. People like her are the real leaders of Africa. She is one of the few voices speaking out loudly and courageously against France's continued exploitation of the African continent. I am glad that her efforts have started to bring real results.

Arikana Chihombori is a true African hero of our time.

FrLukas:


He sure does from the look of things.

I blame the people of those countries.

I used to think Nigerians were docile.

These ones are just sheep being led to the French slaughter house.

Nigerians are docile.. We were just lucky the brits colonized. If na France colonize us by now we sef for dey use CFA-Franc.. The French are brutal.

A coup will soon happen in Benin...No be France?
Las las they might even assassinate him... let's wait and see if

tstx:



Nigerians are docile.. We were just lucky the brits colonized. If na France colonize us by now we sef for dey use CFA-Franc.. The French are brutal.

I doubt that o.

Paul Biya has been ruling Cameroon since the early 80s, way before most Nairalanders were conceived.

Do you think that is possible in a country like Nigeria, make one person from one tribe dey rule in a Democratic setting o?

Nigeria would have burnt to the ground.

I think ECOWAS also propose same thing.

FrLukas:


I doubt that o.

Paul Biya has been ruling Cameroon since the early 80s, way before most Nairalanders were conceived.

Do you think that is possible in a country like Nigeria, make one person from one tribe dey rule in a Democratic setting o?

Nigeria would have burnt to the ground.

Who do you think will burn the country to the ground? The ordinary citizens or the opposition?

johnmartus:
I think ECOWAS also propose same thing.

Yeah... Eco is the proposed name for the common currency

tstx:



Who do you think will burn the country to the ground? The ordinary citizens or the opposition?

Both.

Do you think Nigeria will survive assuming only Fulanis are ruling us?

I seriously doubt that.

booblacain:
Kudos to the likes of Arikana Chihombori for these. People like her are the real leaders of Africa. She is one of the few voices speaking out loudly and courageously against France's continued exploitation of the African continent. I am glad that her efforts have started to bring real results.

Arikana Chihombori is a true African hero of our time.

She's from which country?

FrLukas:


Both.

Do you think Nigeria will survive assuming only Fulanis are ruling us?

I seriously doubt that.

You still don't understand the black race my friend... How do you think the whites were able to keep the slaves in check for more than 200 years??... We blacks are not like the whites bro.. Nothing concern us concern dying for a cause.. Any man can decide to rule for as long as he wants here and nothing go happen.. all he needs do is clamp down on opposition, publicly hang some few people who dare question him. And then the masses go adapt because nobody Wan die. We are a bunch of highly adaptable race.

tstx:



You still don't understand the black race my friend... How do you think the whites were able to keep the slaves in check for more than 200 years??... We blacks are not like the whites bro.. Nothing concern us concern dying for a cause.. Any man can decide to rule for as long as he wants here and nothing go happen.. all he needs do is clamp down on opposition, publicly hang some few people who dare question him. And then the masses go calm...

Hmmmmm... Don't be too sure about that though. At the rate things are going its just a matter of time o.

FrLukas:


Hmmmmm... Don't be too sure about that though. At the rate things are going its just a matter of time o.

History always repeats itself in Africa
..
..

FrLukas:


She's from which country?

She is from Zimbabwe.

Okoroawusa:
A coup will soon happen in Benin...No be France?

Las las they might even assassinate him... let's wait and see if

Those kinds of tactics are not as effective as they used to be. African leaders are now more collectively and actively concerned about what is happening in African nations as opposed to how it used to be. This is a good thing because it helps protect Africa more from external influences. We are not fully there yet, but we are making some progress.

booblacain:


She is from Zimbabwe.

Wow. Nice. I love Zimbabweans.

booblacain:


Those kinds of tactics are not as effective as they used to be. African leaders are now more collectively and actively concerned about what is happening in African nations as opposed to how it used to be. This is a good thing because it helps protect Africa more from external influences. We are not fully there yet, but we are making some progress.

Time will tell