**CFA Franc Still Relevant in Francophone West and Central Africa, Says French Ambassador** In a recent interview with PREMIUM TIMES, the French Ambassador to Nigeria, Marc Fonbaustier, has defended the use of the CFA Franc in Francophone West and Central African countries. Despite widespread criticism of the colonial currency, the Ambassador argues that it offers several benefits to the region, including monetary stability, low inflation, and a reliable peg to the Euro. The CFA Franc is used by 14 countries, eight in West Africa and six in Central Africa, as a result of France's colonial influence. Created in 1945 to stabilize currencies and promote economic integration under the colonial system, the currency has long been criticized for its colonial roots and the disproportionate influence it gives France over African economies. However, the Ambassador maintains that the CFA Franc provides a remarkable currency exchange rate stability, which is crucial for attracting investors and maintaining a stable economy. He also argues that this stability is essential for countries to respond to local economic shocks, despite criticism that the currency restricts monetary flexibility. Some Francophone countries, including members of the AES (G5 Sahel), have attempted to break ties with France and ECOWAS after successful military coups. However, the Ambassador says that these countries remain "bullish on colonialism" and continue to use the CFA Franc due to its benefits. In Nigeria, where the CFA Franc is not used, the benefits of a stable currency are well understood. The country has experienced periods of high inflation and currency fluctuations, which have had significant impacts on the economy. While the CFA Franc may not be perfect, the Ambassador's arguments highlight the complexities of the currency's use in Francophone West and Central Africa. As the region continues to evolve, it will be interesting to see how the CFA Franc and other currencies interact in the future. In the context of ECOWAS, which has 15 member states, the use of the CFA Franc may raise questions about the region's economic integration and the role of France in the region. However, the Ambassador's comments suggest that the CFA Franc remains a relevant currency in Francophone West and Central Africa, despite criticism of its colonial origins. Ultimately, the debate around the CFA Franc highlights the need for a nuanced understanding of the complex relationships between France, Africa, and the global economy. As the region continues to evolve, it will be essential to balance economic stability with the need for greater economic independence and self-determination.