“Sovereignty Begins With Currency, AES Will Exit CFA Franc” – Niger’s Foreign Minister

Niger’s Foreign Minister, Bakary Yaou Sangaré, announced the country’s intention to abandon the CFA franc currency during a visit to Moscow for consultations between the Confederation of Sahel States (CSS) and Russia.

Speaking to Russian media outlet RT, Sangaré stated that true sovereignty requires control over the issuance of national currency. He said:

The first instrument of sovereignty is currency. You cannot be sovereign if someone else mints your currency. It’s clear that we’re not going to stay in this CFA franc affair. France itself knows it.

Sangaré, who represents one of the three member states of the CSS alongside Mali and Burkina Faso, argued that the region is capable of establishing its own currency, saying:

We are led to believe that we are not capable of putting a currency into circulation, but there are countries that have done it alone. So, why can’t we do it? We know that our sovereignty begins with the minting of currency, and we will do it,” he added.

While the minister did not give a specific timeline for the introduction of a new currency, he said the sanctions imposed on Niger had further motivated the government to pursue monetary independence.

He criticised the Central Bank of West African States (BCEAO) for freezing Niger’s assets during recent economic sanctions, describing the action as “downright unfair.”

Our money, which we had at the Central Bank of West African States, was blocked for eight months. Simply because France provided injections and did everything possible to disrupt the banking sector in Niger, he said.

He indicated that Russia could play a key role in facilitating the transition to a new currency.

Regarding Niger’s membership in the West African Economic and Monetary Union (WAEMU), Sangaré indicated a future withdrawal is under consideration.

There’s no way we’re staying as long as we’re in the CSS,” he said, drawing comparisons with Niger’s withdrawal from ECOWAS earlier this year, suggesting the exit from WAEMU would be less challenging.

We’ve made the French army leave; we’ve made the American army leave. I think it’s more difficult than leaving an organisation like WAEMU, he said.

The visit to Moscow marks the first institutional meeting between CSS and Russia. Initially focused on security cooperation, the partnership is expected to expand to include development, diplomacy, and now monetary policy.

Sangaré said the CSS remains open to new members, provided they recognise the bloc’s principles and are not under Western influence.

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