Taking a cue from the European Union-sanctioned Russians who have businesses outside the country in the wake of the country’s invasion of Ukraine, President Bola Tinubu has instructed the Central Bank of Nigeria (CBN) to impose extra financial sanctions on the Niger Republic, her senior officials and their associates for the refusal of the coupists to heed the demand by the Economic Community of West African States (ECOWAS) to reinstate President Mohamed Bazoum.
What this means is that businesses of associates or entities and individuals that are in Nigeria or Nigerien citizens living in Nigeria that are related to or involved in business transactions with the military junta in the Niger Republic are to be sanctioned.
Prominent Russians like Roman Abramovich were sanctioned by the United Kingdom government and the Chelsea football club was taken away from him for being an associate of Vladimir Putin over his refusal to heed EU demands over Ukraine.
Bazoum, the president of Niger Republic was overthrown and detained by senior military officers in the country about two weeks ago, to the chagrin of ECOWAS leaders who have threatened possible military action against the coupists if democratic governance is not returned.
Although the nature or the specifics of the sanctions are not spelled out, this is, however, the latest action announced by Tinubu’s spokesman, Ajuri Ngelale on behalf of Nigeria which currently chairs the Authority of ECOWAS heads of state and government.
“Following the expiration of the deadline of the ultimatum and standing on the preexisting 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”.
He also dismissed attempts to personalise the angst and sanctions against the military in the Niger Republic, stressing that whatever decision Nigeria has taken falls under ECOWAS protocols and decisions, and not by the unilateral fiat of Tinubu.
According to Ngelale, “This is not an individual action taken by an individual President on behalf of an individual nation. This is an action taken by the 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 the Nigerian government’s 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.”
He stressed that “the ECOWAS mandate and ultimatum is not a Nigerian ultimatum. It is not a Nigerian mandate and the office of His Excellency President Bola Ahmed Tinubu, also serving as the chairman of ECOWAS seeks to emphasize this point.”
Ngelale further noted that Tinubu in recent days, particularly following the expiration of the ultimatum given by ECOWAS, has widened consultations internationally but most especially domestically, including interfaces with States governors in Nigeria, who govern states bordering Niger public on the various fallouts and outcomes of the situation in Niger Republic.
He also affirmed that Nigeria will be hosting an extraordinary summit of the ECOWAS leaders on Thursday to discuss the next line of action after the deadline given to the military in Niger Republic expired last Sunday.
