Tinubu imposes financial sanctions on Niger, Mali, Burkina Faso through CBN

The Chairman of the Economic Community of West African States (ECOWAS), President Bola Tinubu has ordered fresh and heavier financial sanctions on the Republic of Niger and neighbouring countries that support the coup d’état in the country.

The sanctions were imposed after the threatened military intervention by West African leaders failed to produce the desired result.

Diplomatic efforts by the African Union, the United States and the United Nations to appeal to the leader of the military junta in Niger, Gen. Abdourahmane Tchiani have also been unsuccessful as the ousted President, Muhammed Bazoum remains detained in the presidential palace.

Speaking on the matter on Tuesday, August 8, 2023, Ajuri Ngelale, Special Adviser to President Tinubu on Media and Publicity told journalists that the President has imposed more sanctions on the individuals and entities supporting the military junta in Niger.

Ngelale did not go into details of the sanction, he however, explained that the restriction was carried out through the Central Bank of Nigeria (CBN).

“I can also report that 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, President Bola Tinubu has ordered an additional slew of financial sanctions through the Central Bank of Nigeria on entities and individuals related to or involved with the military junta in Niger Republic,” he said.

He clarified that the mandate and ultimatum issued by ECOWAS did not emanate from the office of President Tinubu.

He said the President conveyed the position of ECOWAS because he’s the Chairman of the sub-region's organisation.