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The creation of the ACB, to be completed by 2028 was first agreed upon in the 1991 Abuja Treaty . The 1999 Sirte Declaration called for a speeding up of this process with creation by 20201. Source: When it is fully implemented via Pan-African Parliament {Link without Title} legislation, the ACB will be the sole issuer of the African Single Currency, will become the banker of the African Government, will be the banker to Africa's private and public banking institutions, will regulate and supervise the African banking industry, and will set the official interest and exchange rates; in conjunction with the African Government's administration. REFERENCES |
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