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ECO-6: Authorities Finally revealed when Lumi currency withdrawal may commence

NewsWay
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The Economic Community of the 6th African Region had over the past one and a half years embarked on an empowerment program, with the aim of eradicating poverty in the African Region.

The LUMI grant, according to McPherson who is the head of the African Diaspora Central Bank will be paid via the Swifin platform directly to any registered person irrespective of their social status.

The amount to be paid is AKL6.26 which is the equivalent of $100 (N56,000.03) per person per month for 3 years.

Beneficiaries of the program lamented over the inability to swap the said LUMI to their local currencies.

However Queen Sheba the III explained that only countries with digital currency can withdraw or exchange the LUMI for now.

Nigerians and their counterparts in the other African Countries may begin the use of Lumi Currency on or before October this year (2022).

The Lumi Exchange Rate Mechanism (ERM) and integration has been communicated in writing to all Continental African Countries and the African Diaspora Region with deadline of October 1st.

What this means is that, South Africa might officially begin to accept Lumi as a legal tender for goods and services and so do Nigeria and other African Countries too.

ECO-6 Authorities have written officially to the African Union, the ECOWAS and the rest Sub-Regions in the Continental Africa.

Lumi is the official currency of the Eco-6 and must be accepted by all African Nations.

The head of the African Diaspora Region Mr. McPherson explained further that what they want is for all fiat currencies in Continental Africa and the even the Diaspora Region should be first exchanged to Lumi before subsequent swap to other foreign currencies.

 

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