Togo’s National Assembly has adopted a new law to protect the integrity of the common currency used in the West African Economic and Monetary Union (WAEMU). The bill was approved on March 10 during a parliamentary session in Lomé. It aims to fight counterfeiting and other illegal acts involving banknotes and monetary symbols. The law outlines offences such as producing banknotes illegally or reproducing currency without permission. It also targets the possession or circulation of counterfeit money.
Under the law, the Central Bank of West African States (BCEAO) will coordinate actions against such crimes. Authorities say the reform will strengthen legal protection for the region’s shared currency. Lawmakers also passed another bill during the session to regulate microfinance activities in the country.