Emir Sanusi cautions West African leaders against rushing proposed ECOWAS single currency

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 largest economy, has a pivotal role in ensuring that decisions on monetary integration are guided by rigorous research, evidence and national interest.

He said the institute remains committed to promoting informed policy dialogue and providing research-driven insights to support legislative decision-making, strengthen democratic governance and advance sustainable regional development.

The lecture brought together academics, lawmakers, policymakers, diplomats, development partners and other stakeholders to examine the opportunities, challenges and practical realities surrounding the proposed ECOWAS single currency.

The event also reaffirmed NILDS’ commitment to fostering evidence-based discussions on regional integration and public policy.