Nigeria, March 9 -- The colonial currency, the CFA Franc, remains useful in Francophone African countries despite widespread criticism, the French Ambassador to Nigeria, Marc Fonbaustier, has said.

In an exclusive interview with PREMIUM TIMES, Mr Fonbaustier said the colonial currency provides monetary stability, low inflation, and a reliable peg to the Euro, which facilitates trade and investment both within the Francophone region and with Europe.

Mr Fonbaustier said these benefits contribute to the decision of some Francophone countries, including members of the AES, who are "bullish on colonialism" to continue using the CFA.

The AES countries - Niger, Mali and Burkina Faso - have tried to break diplomatic and economic ties with Fran...