- President Bola Tinubu has asked the CBN to slam financial penalties on Niger for missing the deadline to return to democracy
- Anyone connected to the junta will be affected by the sanction
- The decision was jointly reached by the ECOWAS, not just Nigeria
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President Bola Tinubu has directed the Central Bank of Nigeria (CBN) to apply additional financial penalties on the Niger Republic in response to the deadline set by the Economic Community of West African States (ECOWAS) for the reinstatement of President Mohamed Bazoum.
Additionally, Tinubu instructed the CBN to apply the sanctions to senior Niger government officials who disregarded ECOWAS's demand.
Recall that roughly two weeks ago, senior military officers in the nation overthrew and jailed Bazoum, much to the displeasure of ECOWAS leaders who had warned that they would take probable military action against the coup plotters if democratic administration was not restored.
Legit.ng reported that the US issued a severe warning to the coup plotters in the Niger Republic, noting that America may be pushed into using the military if the coup plotters don’t return to democratic government.
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Meanwhile, the recent punishment by Nigeria, which is in charge of the authority of ECOWAS, was declared by Tinubu's spokesperson, Ajuri Ngelale.
Sanctions follow lapse of ultimatum
He stated that President Tinubu had ordered an additional round of financial sanctions through the CBN on entities and people connected to or involved with the military junta in Niger Republic following the expiration of the deadline.
Therefore, the sanction is standing on the pre-existing consensus position of financial sanctions meted out to the military junta in the Niger Republic by the bloc of ECOWAS Heads of State, Daily Post reported.
According to Ngelale, the decision was made by the president of Nigeria, who also serves as the organisation's chair, and was supported by a consensus resolution adopted by the heads of state and government of all ECOWAS members about the financial sanctions being imposed against the military junta in the Niger Republic.
“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 interest.”
Ngelale added that Tinubu recently expanded consultations domestically and internationally, including governors in Nigeria who oversee states bordering the Niger Republic, on the various ramifications and outcomes of the situation there. This is especially true after the ECOWAS ultimatum expired.
In addition, he declared that Nigeria will convene an extraordinary summit of the ECOWAS leaders on Thursday to decide what to do now that the deadline set for the military in the Niger Republic passed last Sunday.
President Tinubu Becomes New Chairman of ECOWAS
Legit.ng had reported that President Bola Tinubu had been declared the new chairman of the Economic Community of West African States (ECOWAS).
The Nigerian president was elected at the 63rd Ordinary Session of the Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS) on Sunday, July 9, The Sun reported.