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Infos Business of Wednesday, 3 December 2014

Source: The Sun Newspaper

Nigerian currency beats FCFA in Bakassi

Despite the much talk about Cameroon’s full occupation over the Bakassi Peninsular after the Green Tree Accord, with the expectation that as from January 2015 inhabitants of the area mainly Nigerians will start paying taxes, the Nigerian legal tender the Naira is still tops the chart in terms of circulation in the area.

In Kombo Itindi Sub Division, where most of the goods are Nigerian made products, the name of Cameroon’s currency, the FCFA, is still very strange to the inhabitants.

This even caught the attention of the SDO for Ndian, Ntou’ou Ndong Chamberlin, who, during his contact visit to the area, called on the Mayors of the various councils to open Municipal Shops, where civil servants can buy using the Cameroonian currency and escape the herculean task of money exchange.