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ECO-6 delegation visits Nigeria’s former President Olusegun Obasanjo ahead of the planned Lumi exchange

NewsWay
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A delegation of the Economic Community of the Sixth African Region (ECO-6) has visited an icon of democracy in Nigeria, His Excellency Former President Olusegun Obasanjo in his Lagos residence to discuss the prospect that lumi has for the African Economy if AU adopt it as a single currency for the Continent.

Leader of the delegation and president of the ECO-6, His Majesty Chief Timothy Elisha McPherson highlighted the benefits of the Lumi currency and how it stand to fight against the global recognized currencies like the US Dollar that has remained the only significant currency in the global economy.

Receiving the delegation, Chief Obasanjo applauded the efforts of the ECO-6 authorities saying, in just a short time of it’s creation the Diaspora Region has done incredibly well to salvaging Africa’s collapsing economy with such an innovative idea that created the Lumi.

The authorities of the ECO-6 has launched a framework for the adoption of the Lumi currency. The Exchange Rate Mechanism (ERM) which awaits official execution by October this year (2022) is the first move that gives hope to beneficiaries of the Lumi stimulus.

In case you are not aware

The LUMI, with its proper ostensible terms and all inclusive openness, conveys with it the financial respectability that has a place with genuine cash. Each issued LUMI is guaranteed by 100 kilowatt-hours of solar based energy. The currency valuation against gold-grains is an equality of 1-to-4, where one LUMI rises to the market worth of 4 grains of gold.

Lumi is a Central Bank Digital Currency (CBDC) which is issued and regulated by the African Diaspora Central Bank (ADCB).

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