AFRICAN DIASPORA CENTRAL BANK (ADCB)
"...the LUMI is very innovative and courageous... It offers a unique opportunity for Africa." Tony Elumelu
ECO-6 Chairman H.R.H. Chief Timothy McPherson with United Bank for Africa Chairman Mr. Tony Elumelu
As a legal institution established under Article XIV 1(e) of the ECO-6 Treaty, the African Diaspora Central Bank (ADCB) serves as monetary authority of ECO-6 as well as the hundreds of African Kingdoms which use the LUMI.
The ADCB will work hard to ensure the strength of LUMI as Africa's new global currency, and advance the long-term growth of African economies around the world as Africa and her Diaspora come together during this new economic era.
The ADCB functions as a turnkey institution for driving Diaspora Direct Investments (DDI) to Africa and vice-versa. ADCB will facilitate the creation of an integrated capital market between the continent and the Diaspora.
Using the LUMI as a stable currency for driving trade and investment between Africa and the Diaspora, ADCB will overcome the long-standing impediment to trade which has been a result of the presence of multiple currencies. The LUMI will be able to interface with and convert the various currencies of the Sixth Region and continental Africa in seamless trade transactions.
"...Africa's North, South, East, West, Central regions and the Sixth Region is all part of
Short Note on LUMI
LOOKING TO THE FUTURE
SUPPORTING FARMERS WITH LUMI
80% of farmers throughout Africa have no access to banking services. The ADCB uses digital LUMI to ensure that our farmers get the financial support they require.
We ensure the safety of our new Sixth Region Banking System
We supervise banks within The LUMI system so that Africans on the continent and throughout the Sixth Region are moving forward in the same direction together.
Dedicated and standardised supervision throughout The LUMI system keeps our currency robust, making sure that LUMI purchasing power on the global stage is second to none.
We print and issue LUMI banknotes
Although most people prefer to access digital LUMI on our global payments platform, we are also investing in new technology to ensure a global supply of physical LUMI notes.
We coordinate physical LUMI note production and issuance with our member banks.
WE MAKE FINANCIAL TRANSACTIONS OCCUR WITHOUT COMPLICATIONS
Our banking infrastructure supports easy monetary transactions between continental Africa, the global African Diaspora and the rest of the world.