Sanusi to ECOWAS: Don’t Launch ECO on Weak Economies, Poor Fiscal discipline and Fragile institutions

The former Governor of the Central Bank of Nigeria, Emir of Kano, and current Director General of the Nigerian Institute for Legislative and Development Studies, has cautioned the Economic Community of West African States against launching the Eco currency without thorough, evidence-based assessments. He emphasized that launching the Eco on weak economies with poor fiscal discipline and fragile institutions could lead to severe economic repercussions. This warning highlights the need for robust economic groundwork before proceeding with such a significant monetary union, underscoring the potential risks to member states’ financial stability.