Emir of Kano, Muhammadu Sanusi II, has cautioned West African leaders against rushing the implementation of the proposed ECOWAS single currency, saying the project must be built on sound economic fundamentals rather than political aspirations.
Sanusi issued the warning on Thursday while delivering a public lecture titled ‘ECO Currency and Monetary Integration in West Africa: Implications for Nigeria’ at the National Institute for Legislative and Democratic Studies (NILDS) in Abuja.
The former governor of the Central Bank of Nigeria (CBN) said the ECO currency remains a commendable vision but warned that its successful implementation depends on institutional readiness, fiscal discipline and deeper regional trade integration.
He said sustainable monetary integration requires practical reforms and coordinated economic policies among member states.
Earlier, Prof. Abubakar Sulaiman, Director-General of NILDS, described the proposed ECO currency as a defining issue for the future of West Africa’s economy.
Prof. Sulaiman said Nigeria, as the region’s
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