Historical Sketch

In the 14th century, the Sahelian empires of Mali and Songhai extended throughout western Africa and dominated the trans-Saharan trade. Their influence declined when sea trade by the European powers gained more and more importance. After the collapse of the Songhai empire a succession of smaller states emerged in the territory. In the late 1870s, France began expanding its colonial hold in Senegal. Military posts were established along the Niger river, and in 1892, the colony of French Sudan was established. In 1899 already, the Sudan was dissolved. The southern parts were merged with the existing French colonies there, the rest was divided into Upper Senegal and Middle Niger territories. Just three years later, the two parts were rejoined as Senegambia-Niger, renamed into Upper Senegal-Niger in 1904. In 1921, this was reorganized again into the territories of French Sudan, Upper Volta, and Niger. The Niger colony was transformed into an overseas territory in 1946, and in preparation for the French Union, it got constituted as autonomous republic in 1958. In August 1960, after the failure of the French Union, Niger attained independence.

Monetary History Overview

Since independence in 1960, Niger is a member of the West African Monetary Union and uses the West African CFA Franc instead of a national currency.

Niger joined the International Monetary Fund (IMF) on 24.04.1963.

Currency Units Timeline

Currency Institutes Timeline

Monetary History Sources