Niger Coup: ECOWAS Imposes Financial Sanctions

Posted by Rotimi Fadeyi Featured, Latest Headlines, News Across Nigeria Wednesday, August 9th, 2023

(AFRICAN EXAMINER) – Ahead of the Extraordinary meeting of the Economic Community of West African States (ECOWAS) on Thursday in Abuja, the regional body headed by President Bola Tinubu has ordered financial sanctions against the military junta in Niger Republic

While briefing State House Correspondents on Tuesday on the decisions taken by ECOWAS regarding the situation in Niger, Special Adviser to the President on Media and Publicity, Ajuri Ngelale said that the financial sanctions would be through the

Central Bank of Nigeria (CBN) on entities and individuals related to or involved with the military junta in Niger Republic.

He said, “following the expiration of the deadline of the ultimatum and standing on the pre-existing consensus position of financial sanctions meted out on the military junta in Niger Republic by the bloc of ECOWAS Heads of State, His Excellency, President Bola Ahmed Tinubu has ordered an additional slew of financial sanctions through the Central Bank of Nigeria (CBN) on entities and individuals related to or involved with the military junta in Niger Republic”

According to him, the latest imposition of financial sanction was not an individual decision taken by Tinubu or a national decision of only Nigeria, stressing that the decision was that of ECOWAS as a regional body.

Ngelale further explained, “the news that Mr. President has directed the acting CBN governor to levy another slew of sanctions against entities and individuals associated with the military junta in Niger public.

“I said that intentionally I didn’t make a mistake, because I was given permission to make that statement and I emphasized that this is not an individual action taken by an individual President on behalf of individual nation.

“This is an action taken Yes, but ECOWAS chairman who is the president of Nigeria, but standing on the authority provided by the consensus resolution of all ECOWAS members and heads of state with regard to financial sanctions being levied by ECOWAS Member States against the military junta in Niger Republic.

“There is an authority that we are standing on. It is not Nigerian government authority, it is the authority of the resolution passed in public before now. This is the context, the nuance and the detail that is required in our reports, lest our people be misinformed and we begin to be framed internationally as being in a situation where it’s Nigeria versus its neighbour, Niger, because that’s the narrative that some certain International Perspectives would like to advance for their own interest”, Ajuri added