The chapter interrogates the role of France in the development of the West and Central African monetary zones and the implications of that to the economic development of the countries involved. The authors state that, by controlling the monetary and currency policies and operations of former French colonies using CFA, France has become the de facto decision maker on the direction of their economies. This is in part because it not only sits on the boards of the two central banks but also has overwhelming powers and influence on their decisions. They also show that the physical integration of the Communauté Financière Africaine (CFA) zone in West and Central Africa was facilitated by contiguity from colonization and thus, its formation, composition, nature, and character all bear the imprints of French colonial legacy in Africa. The authors submit that the use of the CFA currency is pure evidence of neo-colonialism in Africa, and has fostered an unequal and asymmetrical economic relationship between the CFA countries and France.