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50-franc notes were last issued in 1959, with 100 francs not issued since 1965. 10,000 franc notes were introduced in 1977, followed by 2,500 franc notes in 1992. In 2004, a new series of notes was introduced in denominations of 1,000, 2,000, 5,000, and 10,000 francs, with the 500 franc note having been replaced by a coin the year before.
In 1996, centralized production of the 100 franc coin was resumed, with a single 500 franc coin reintroduced in 1998. Despite dropping state names and code letters, the overall design of the coins remained relatively unchanged. 2006 saw a redesign of all denominations of coins for the CFA franc, along with the introduction of a 2 franc piece.
Usage of: West African CFA franc (XOF) Central African CFA franc (XAF) The CFA franc (French: franc CFA, [fʁɑ̃ seɛfɑ]) is the name of two currencies used by 210 million people (as of 2023) in fourteen African countries: the West African CFA franc (where "CFA" stands for Communauté Financière Africaine, i.e. "African Financial Community" in English), used in eight West African countries ...
These included shells, [1] ingots, gold (gold dust and gold coins (the Asante)), arrowheads, iron, salt, cattle, goats, blankets, axes, beads, and many others. In the early 19th century a slave could be bought in West Africa with manilla currency ; multiples of X-shaped rings of bronze or other metal that could be strung on a staff.
There was a government plan to redenominate the naira at 100:1 in 2008, but the plan was suspended. The currency sign is U+20A6 ₦ NAIRA SIGN. The name "Naira" was coined from the word "Nigeria" by Obafemi Awolowo. [12] [13] However, Naira as a currency was launched by Shehu Shagari as minister of finance in 1973.
The Banque de l'Afrique Occidentale began issuing notes in 1903. 100 franc notes were introduced that year, followed by 5 francs in 1904, 500 francs in 1912, 25 francs in 1917, 1000 francs in 1919 and 50 francs in 1920. 10 franc notes were introduced in 1943. In 1944, the government issued notes for 50 centimes, and 1 and 2 francs.
Regular issues of this bank began in denominations of 10, 20, 50, 100, 500, 1,000 and 5,000 francs. 10 francs were replaced by coins in 1968. 2,000 franc notes were introduced in 2001, followed by 10,000 francs in 2004. Photographer Kelly Fajack's image of school kids in Burundi was used on the back of the Burundian 10,000 franc note.
The eco is the name for the proposed common currency of the Economic Community of West African States (ECOWAS). Plans originally called for the West African Monetary Zone (WAMZ) states to introduce the currency first, which would eventually be merged with the Euro-pegged CFA franc which is used by the French-speaking West African region within the West African Economic and Monetary Union (UEMOA).