Which of the following is a legal tender in West Africa?

Assessment: WAEC SSCE - Economics - 2006 (Objective) Subject: Economics

Question 1 Report

Which of the following is a legal tender in West Africa?
Answer Details
The legal tender in West Africa is currency. Legal tender is a form of payment that a creditor is required by law to accept as payment for a debt. In West Africa, the official currency used in most countries is the West African CFA franc. It is used in countries such as Benin, Burkina Faso, Ivory Coast, Mali, Niger, Senegal, and Togo. The use of other forms of payment such as treasury bills, shares, or credit cards is not mandated by law and is subject to agreement between the parties involved.
Read lesson note on Money And Inflation (WAEC)
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