WHY NIGER Wants To Leave (CFR Franc) Currency

Niger’s military regime has hinted at the possibility of leaving the monetary currency (CFA franc), but why does Niger want to leave, and how will this decision affect France, their former colonial master? Niger and other 13 countries in Africa uses the Franc (cfa) as currency The origin of Niger’s use of the currency franc can be traced back to its colonial history. Niger was a French colony until it gained independence in 1960. As part of the French colonial empire, Niger adopted the CFA franc, which stands for “French Colonies of Africa.“ The CFA franc was initially introduced in 1945 to replace the French West African franc and became the common currency for several African countries. it has also faced criticism and disadvantages. One significant concern is that the CFA franc is pegged to the euro, meaning its value is tied to the European currency. This arrangement has been criticized for limiting the monetary policy independence of member countries, as decisions regarding interest rates and currency valuation are made by the French Treasury. #africanews #niger #france