Nigerian senators have received their “holiday token” allowance as directed by the Senate President, Godswill Akpabio.

The controversial directive which has incensed Nigerians and has dominated the social media was earlier denied by the Senator representing the Federal Capital Territory of Abuja, Ireti Kingibe.

The Senate management has kept mute and attempt to confirm this paper’s findings on Thursday proved abortive.

Kingibe said she had received only “statutory allowance” and she did “not know what” Akpabio was talking about.

Recall Akpabio during the last day of extraordinary plenary to confirm ministerial nominees whose names were sent for screening and confirmation by President Bola Tinubu had directed that the clerk of the national assembly to send to each senator “holiday token for enjoyment.”

He however said “I withdraw that statement” after his colleagues expressed their shock and frowned at it as it was exposing them to public ridicule.

Akpabio afterwards added that he had sent “prayers to your mailbox”, a revelation Senator Kingibe also denied noting that “I have not received any email.”

According to THE WHISTLER, a screenshot of the credit alert shared  on Thursday afternoon showed that the 109 senators in the Nigerian upper house have received the alert.

In an alert which a senator from Ondo State (name withheld) forwarded, a credit alert of N2 million was seen.

The alert was received at exactly 11:44am on August 8, 2023.

The information on the alert show, “txn: credit Ac:2xx .97x Amount NGN:2,000,000.00


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“Des: NFT SENATE OVE/NAT,” part of the alert showed.

Attempts to speak with the Senator proved abortive as his media aide did not respond when contacted via email.

Also, Senator Kingibe did not respond when contacted to verify if she has now received the new alert contrary to her earlier position.

Last modified on Friday, 11 August 2023 07:10

During the second version of the Russia-Africa Summit held in St. Petersburg, Russia, last month, it was all too evident that the attendance of only 17 African state leaders was significantly lower than the inaugural summit in 2019. While this may indicate that most African nations do not support Russia’s military actions in Ukraine, it is still important to consider current events in Africa, such as the ongoing situation in Niger, in relation to Russia’s objectives on the African continent. Especially with the United States (US) already seeing a “narrow” window of opportunity to reverse the military takeover in Niger.

One could contend that ongoing events can be interpreted as a strategic maneuver by Russia to redirect the conflict with the European Union (EU), specifically France, from Ukraine to the Western Africa region. Throughout history, this region has been widely acknowledged as one of France’s most crucial strongholds, where its unwavering influence has been steadfastly maintained for numerous decades. Nevertheless, considering the political upheavals witnessed in both Mali and Burkina Faso, resulting in the establishment of pro-Russian and anti-Western governments, the ongoing rebellion in Niger represents yet another significant event that has the potential to bolster Russian influence in Africa. While it is not unusual for western African nations to experience coups, the recent coups in Mali, Burkina Faso, and the ongoing coup in Niger exhibit a shared characteristic in the new regimes’ alignment with Russia. The latter is evident from the ongoing protests in these nations, where the Russian flag is proudly displayed, along with the growing influence of Russia’s Wagner Group in these territories.

In recent years, Russia has sought strategic partnerships with African nations, including Niger, a landlocked country in West Africa. While the extent and motivations behind Russia’s engagement in each African country differ, one can observe certain patterns in its approach. These patterns include diplomatic and economic initiatives, military cooperation, and resource-related interests. Russia has undertaken diplomatic efforts to increase engagement in Africa, often involving high-level visits and deepening economic cooperation. In Niger, for instance, Russian Foreign Minister Sergey Lavrov visited in 2021 to consolidate bilateral relations. Agreements were reached on various cooperation areas, such as energy, mining, and defense. Russia perceives Africa as an area where it can diminish Western influence by leveraging historical ties and fostering alliances with African nations. By solidifying partnerships with countries like Niger, Russia is likely to undermine Western-backed initiatives and projects, such as economic aid and military cooperation. This approach allows Russia to challenge the hegemony of the West and increase its own sphere of influence on the global stage.

Russia’s interest in Niger also highlights its interest in the country’s abundant natural resources, such as uranium and other minerals. These resources are vital for various sectors, including energy production and defense. Russia’s pursuit of resource extraction and trade partnerships raises eyebrows in the international community, as it could potentially upset Western dominance in these regions. Africa’s vast natural resources, including minerals, oil, and gas reserves, undoubtedly provide attractive economic opportunities for Russia. In light of Western sanctions imposed on Russia following its actions in Ukraine, Moscow seeks alternative avenues for economic growth. Expanding its presence in Africa enables Russia to tap into these resources and develop trade partnerships outside the Western sphere of influence. Furthermore, Russia’s increasing influence in Africa allows it to indirectly pressure the West. For instance, Niger’s coup took place only a week ago, yet the leaders of the coup in Niger announced the suspension of uranium exports to France, which is a significant blow to the country, which relies on uranium to a large extent for electricity generation. Niger’s uranium covers about 17 percent of French needs, and its nuclear plants generate more than 70 percent of the country’s electricity. Ongoing developments in Niger not only invite anti-Western nations like Russia to exercise influence in west Africa but also allow NATO member states that have opposing views to France to take advantage. For example, Turkey’s president, Recep Tayyib Erdogan, has recently indicated that Niger’s suspension of uranium exports to France is a response to years of France’s oppression. In the same vein, amid tensions between France and Italy over migrant policy, in a 2019 interview with right-wing politician Giorgia Meloni, now Italy’s Prime Minister, slammed France for using “colonial currency” to exploit Africa’s valuable resources.

The coup in Niger, accompanied by the regional instability it brings, also jeopardizes Nigeria’s plans for the development of a 13 billion USD gas pipeline that would allow for the export of gas from Nigeria to the EU. Provided the project is successful, the EU would benefit from a decreased reliance on Russian gas, thus clearly indicating why it is in the best interest of Russia that such a project does not reach fruition. In addition to economic factors, Russia’s involvement in West African nations will allow it to build a rapidly moving security force block in the region. Even though most African nations signed military agreements with Russia, Russia’s Wagner group already maintains a strong and active presence in the Central African Republic, Sudan, Libya, and Mali, all of which are in close geographical proximity to Niger. Therefore, allowing Russia to effectively enter the battlefield in Niger via the Wagner Group. That said, the political chaos in Niger only erupted a week ago, and Niger’s military junta is actively seeking help from Wagner Group in facing the threat of military intervention from neighboring countries supported by the international community. More interesting is that Mali, where Wagner Group has a strong foothold, has voiced its full support for Niger’s rebels. Similarly, Burkina Faso has joined voices with Mali and claimed that any intervention in Niger would be a declaration of war on Mali and Burkina Faso. In light of Russia’s increasing influence in west Africa, it is worth noting that Burkina Faso itself had a coup in January 2022 and since then has requested France to fully withdraw its troops while hailing Russia as a strategic ally, thus increasing speculations about Russian presence and influence. In the same vein, Algeria, known for its strong loyalty to Russia, announced its opposition to any intervention in Niger.

Regardless of the Wagner Group’s short-term motives to support Niger’s rebels, the long-term gain for Russia would be the full and active presence of a proxy military force in Niger, allowing Russia to maintain an almost full west-to-east African presence and thus challenging the US-EU strategic interests in Africa. The group mainly operates as a mercenary force, deploying highly trained and well-equipped individuals to support Russian geopolitical interests. Their main activities include combat operations, training local forces, and securing economic assets for Russia’s interests. However, unlike regular military forces, private military contractors like the Wagner Group enjoy limited accountability. Such a lack of oversight can escalate conflicts and human rights abuses, further destabilizing fragile states while at the same time allowing Russia to reach its regional objective faster compared to the use of official military force. This was very noticeable in the Wagner Group’s advances in Russia’s war on Ukraine as well as the group’s tactical movements in African countries.

Despite Russia’s geopolitical interests in Niger and how the coup may empower Russia’s position in west Africa, the situation presents the international community with a set of security risks, including terrorism, ethnic conflicts, and a struggling economy that will likely have a spillover effect on the Sahel region. Yet the involvement of the Wagner Group in Niger could exacerbate these issues, posing a substantial threat to African nations’ regional stability, which may hence be part of the tactics employed to diminish the US and EU security roles in the region. Niger serves as a crucial player in the fight against terrorist organizations such as Boko Haram and the Islamic State in West Africa. The presence of the Wagner Group could complicate regional dynamics, potentially drawing the country into proxy conflicts, increasing the risk of violence, and posing a significant challenge to ongoing counterterrorism efforts. In addition to France’s military withdrawal from Mali and Burkina Faso, international alliances and collaborations forged to combat terrorism, including the US counterterrorism efforts in Africa, may be disrupted or suspended, leading to a decline in military and intelligence support. This scenario creates an opportunity for extremist and terrorist groups to consolidate their presence in Niger and launch cross-border attacks on neighboring countries, further exacerbating regional security concerns. Furthermore, should Wagner Group become effectively involved in Niger, this will undoubtedly have severe security implications affecting both the nation and the wider region. The Group’s involvement in Niger could lead to increased arms trafficking, rendering the region vulnerable to enhanced violence, instability, and arms proliferation by extremist groups that may operate across Africa or even cross-continental. The latter possibly explains why the United Arab Emirates (UAE) has decided to send military vehicles and security equipment to Chad to support counterterrorism efforts in light of the ongoing escalations in Niger.

Furthermore, the geopolitical stance of Iran with regards to Niger remains a subject of careful consideration. In this regard, it is highly probable that Iran will seek to exploit the prevailing political unrest in West Africa, aligning itself with anti-US and anti-Western factions and militias operating within the region. Reports show that there is an ongoing row between France’s presidency and the country’s intelligence agency on accusations related to the failure to predict the coup. Despite all that said, what is more surprising is that earlier this year, in an attempt to counter the Russian and Chinese influence in Africa, France pledged to reduce its military presence in Africa and transform French bases into partnerships with African soldiers. Yet, it appears that France’s strategy yielded the full opposite and served to trigger Russia’s power plays in Africa rather than counter them.

Although it may be premature to assert that Russia is shifting its conflict with the United States and the European Union from Ukraine to Africa, the situation in Niger undeniably presents a compelling rationale. In light of Africa’s growing significance in the global arena, it is crucial for international stakeholders to closely observe Russia’s endeavors and actively participate in constructive discourse to safeguard stability in Africa. Russia’s strategic endeavors in Africa extend beyond the mere objective of supplanting the ongoing conflict in Ukraine. Instead, it exemplifies a comprehensive approach to pursuing economic opportunities, securing access to valuable natural resources, and augmenting geopolitical influence. Its involvement in Africa transcends the mere displacement of tensions from one region to another. The deployment of the Wagner Group as a proxy in Niger presents an enormous risk for the stability and security of the region, potentially resulting in the re-emergence of terrorist organizations. Regarding this matter, the coup and subsequent destabilization in Niger will undeniably have substantial spillover ramifications, affecting not solely Niger but also the entire Sahel region. The ramifications encompass a wide spectrum of political consequences, spanning from compromised national security to economic setbacks, a humanitarian crisis, and strained regional relations that are likely to escalate into armed conflicts on multiple fronts. Although very complex, it is imperative for international actors and African countries to try to engage in constructive dialogue and restore stability in West Africa.

[geopoliticalmonitor.com]

The naira plunged to a record low of N925/$1 on the parallel market yesterday as demand for foreign currency outstripped supply.

This is the aftermath of liberalising the foreign exchange regime, which is a clear departure of what obtained during the Presidential Muhammadu Buhari- led administration.

At a time during the last administration, the World Bank and other agencies, as well as experts in banking, finance and economy had at different times said having official and parallel value for the naira was hurting the economy and at the same time making a few privileged people pocketing billions of dollars without producing anything as they get the forex from the CBN at official rate and instantly sell same at the black market.

 

Recall that during his inauguration on May 29, 2023, President Tinubu had said, "Monetary policy needs a thorough house cleaning. The Central Bank must work towards a unified exchange rate. This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy."

On June 14, 2023, the CBN abolished the segmentation of the forex market into different windows and told Deposit Money Banks to freely float the naira against the dollar and other international currencies.

Buyers and sellers of foreign currency in the official FX market were then allowed to quote their preferred rates, as against previous practice where CBN dictated rates.

Wittingly or unwittingly, naira has since continued on a free fall at the parallel market despite the move.

 

When Daily Trust reached out to forex traders in Abuja yesterday, they quoted the exchange rate as high as N915/$1 for cash trades.

Similarly, the dollar exchanged for between N880 and N890 in Lagos, the commercial capital of Nigeria.

Our reporter who monitored the situation at the Murtala Muhammed International Airport, Ikeja as well as Allen Junction, noticed that the greenback was bought for as high as N890 by Bureau De Change operators in the state. However, the operators sold it for between N900 and N905.

An operator at Allen Roundabout in Lagos, Ismail Muhammed said: "The dollar has not reached N900 in Lagos. We are buying for N890 at the moment".

In Kano, Daily Trust gathered that while the parallel market closed on Tuesday with a dollar trading to a naira at N900, it opened at N919 to a dollar on Wednesday as against the N750.2/dollar at the I&E market, signifying a gap of about N169 between the parallel market and the I&E market.

 

However, Daily Trust gathered that around 1pm, the price further surged in Kano's Wapa Forex Market to N925 to a dollar.

I & E window closes at N757/$1

Meanwhile, in the official Investor and Exporter Window, the exchange rate closed at N757.81/$1 while the NAFEX rate was N776. The official market also faces supply constraints, with daily turnover averaging $80 million since July.

The peer-to-peer market, where cryptocurrency traders exchange forex, also saw the exchange rate soar above N900/$1.

Naira falls 19.8% since Fx unification

The exchange rate between the naira and dollar has weakened by 19.8% since the reunification of the exchange rate windows. This compares to a depreciation of 2.5% between January 1 and June 14th (before the unification). The exchange rate weakened by 22.9% in the whole of 2022.

The disparity is now N153/$1, one of the widest since the unification of the naira on June 14th, 2023.

The naira has been under pressure in the parallel market for several weeks, as the supply of forex from official sources remains inadequate.

On July 1st, the beginning of the second half of the year, the exchange rate in the parallel market was around N772/$1.

However, a surge in demand from various segments of the economy, such as importers, foreign travellers and speculators, has triggered exchange rate volatility.

'Scarcity major factor'

Daily Trust spoke to some forex traders who attributed the depreciation of the naira to a scarcity of supply.

They said that there were more buyers than sellers in the market and that the situation was unlikely to improve anytime soon.

A forex dealer, Nura Usman told Daily Trust that it was scarcity and lack of price control mechanism that was responsible for the astronomical rise in the exchange rate and the huge gap between the official and parallel markets.

"Even commercial banks do not have dollars, they come to us to look for it when their customers ask for it. So, this makes you wonder why CBN is not contributing its quota to the market. If the CBN releases dollars to the commercial banks at the I&E price, definitely the gap between the I&E market and our own (parallel) won't be more than N10 and not the over N160 that we currently have," he said.

Usman added that the chances are very high that a dollar will go above N1, 000 sooner than anticipated if nothing was done to quickly address the scarcity.

 Also speaking, the Chairman of WAPA Forex Market, Sani Dada said the government is to be blamed for the scarcity and huge gap between the I&E market and the parallel market.

He said Nigeria is not productive enough to be getting the required forex the market needs and as such the floatation of price without commensurate supply of dollars to the market by the government was counter-productive.

"For us, our only source of dollars now is from travellers who will bring some hundreds of dollars to you. Even yesterday (Tuesday), I needed $1,000 and I couldn't get it anywhere in the market. That is how bad things have gotten. So, the government needs to release some percentage of dollars to operators (BDC) as it was done in the past so that it can reach the people that truly need it," he said.

Oyinlola Oluwafemi, a commercial bank customer said: "We really need to diversify our foreign exchange earnings from just oil so that we can have much more surplus supply of dollar, as for the demand for foreign exchange, it is not going to go away anytime soon so we have to deal with that.

"Another factor affecting the gap is the official bottlenecks that exist in our banking system. Imagine applying for PTA for 14 days prior to need, that is too long a time to wait."

BDCs urge FG to ban Binance operations

However, the Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the federal government to ban the operations of Binance in the country.

Binance is a global online exchange where users can trade cryptocurrencies on a daily basis. It supports hundreds of the most commonly traded cryptocurrencies.

President of ABCON, Alhaji Aminu Gwadebe in a chat with Daily Trust, said Binance trading is becoming the anchorage of the Investor and Exporters window and the parallel market, noting that the exchange is the most liquid market with 1.2 million transactions per second.

He said: "So, we have to do something that can stop Binance. It's a competition; we need to ban Binance and the only way to do so is if you have liquidity.

"So we are seeing a scenario where optimism is giving way to pessimism; investors are not coming, Nigerians don't have confidence in the market and we have to look for external finances that are coming in as a quick fix.

"There is a lot of pressure on the naira, from foreign exchange hoarding by the banks and oil companies."

CBN expects remittances from NNPC

Gwadabe expressed hope that with the petrol subsidy removal, the Central Bank of Nigeria would be able to see remittances from the Nigerian National Petroleum Company Limited (NNPCL) saying at the height of subsidy on oil, the remittance to CBN from NNPC was zero.

He said now that the situation has changed, this would also allow the apex bank to have liquidity and inflows that would come in for them to be able to defend the naira.

He said: "If we have a friendly, competitive and transparent system, more investors would want to come to the market."

Official window no longer reflective of the market dynamics

Ayodele Akinwunmi of the Corporate Banking Department of First Securities Discount House Limited (FSDH), said: "The way things are today, we have to be careful with what we quote as the spread in the parallel market. The fact that the CBN says we can buy and sell at any rate does not give room for arbitrary price quotes.

"As much as I know, the CBN has been selling dollars to the Import and Export window consistently at N740/$1. The supply may not be enough considering the huge backlog; the reference rate is still the I&E window.

"It is a matter of demand and supply and with what the government is doing, the rates will decelerate in no distant time".

However, the Managing Director of Cowry Asset Management, Dr Johnson Chukwu said the basic underlying factor in the continuous widening of the gap between the I&E window and the parallel market is undersupply.

Chukwu, while reacting to the stability in the I&E window amidst wide drift in the parallel market, said: 'The official market is no longer reflective of the market dynamics.

"In effect, the I&E window is no longer indicative of demand and supply, the price is stable because the offer and bid price are determined by the CBN."

Reacting to what the government can do to arrest the free fall, Chukwu said: "We are already in a bind, I don't see the federal government accepting a short-term balance sheet support.

"We are heading towards a point where dollarisation will kick in. I don't know where that point is right now but we are in a deep mess."

We need to work on the supply side of fx-CBN

The CBN Director of Corporate Communications, Dr Abdulmumin Isa, in his reaction, said: "While we will continue to intervene to bring the markets to the levels that we believe it should be, we need to work on the supply side of forex to the economy.

"As the Ag CBN governor, Folashodun Shonubi, said at the last MPC meeting, some of the volatility you've seen over the period has been driven by that same fact that the market needs to find its level and also the reality that there's pent-up demand, which current supply may not be sufficient for and as we ease and satisfy the pent-up demand, we begin to see a more efficient market that runs."

 

Uganda’s President Yoweri Museveni on Thursday denounced the World Bank’s decision to suspend new funding in response to a harsh anti-LGBTQ law and vowed to find alternative sources of credit.

The World Bank said on Tuesday it would halt new lending to the Ugandan government after concluding that its anti-LGBTQ law contradicts the bank’s values.

The World Bank has an existing portfolio of $5.2 billion in Uganda, although these projects will not be affected.

Reacting to the World Bank threat, Museveni said in a statement that Uganda was trying to reduce its borrowing in any case and would not give in to pressure from foreign institutions.

“It is, therefore, unfortunate that the World Bank and other actors dare to coerce us into abandoning our faith, culture, principles and sovereignty, using money. They really underestimate all Africans,” he said.

Museveni said that if Uganda needed to borrow, it could do so from other sources, and that oil production expected to start by 2025 would provide additional revenues.

In June, the United States imposed visa restrictions on some Ugandan officials in response to the law. President Joe Biden also ordered a review of U.S. aid to Uganda.

Uganda’s state minister for foreign affairs, Okello Oryem accused the bank of hypocrisy, saying they were lending to countries in the Middle East and Asia that have the same or harsher laws on homosexuality.

“The World Bank has been put under pressure by the usual imperialists.”

The World Bank had provided $5.4 billion in International Development Association financing to Uganda by the end of 2022, including many health and education projects that could be affected by the new law.

[NationalDaily]

Your Excellencies, Heads of State and Government;

Your Excellency, the President of the ECOWAS Commission;

Your Excellency, President of the African Union Commission;

Your Excellency, President of the UEMOA Commission;

The Special Representative of the Secretary General of the United Nations in West Africa and the Sahel; and

Distinguished Ladies and Gentlemen.

1. Let me commence by welcoming you all to the Second (2nd) Extraordinary Summit on the Socio-Political Situation in the Republic of Niger, within the space of ten days. Your presence here, despite the short notice, demonstrates the unwavering dedication of our esteemed community to finding a lasting solution to the political situation in the Republic of Niger.

2. Today, we gather with a profound sense of urgency and firm determination, building upon the commitments made during our first Extraordinary Summit, on the grave political crisis befalling our sister nation. During that initial meeting, we voiced our solidarity with the people of Niger and their democratically elected President, H.E Mohamed Bazoum, by condemning the military take over and the unjust detention of their democratically elected President.

Your Excellencies, Distinguished Ladies and Gentlemen,

3. As you may recall, we called on the junta to rescind its decision of toppling a legitimate government. We proceeded to impose sanctions with the hope that this resolute measure would serve as a catalyst for the restoration of the constitutional order in Niger. Regrettably, the seven-day ultimatum we issued during the first Summit has not yielded the desired outcome. We have also made diligent efforts through the deployment of various ECOWAS mediation teams, to engage the military junta for a peaceful resolution of the political situation. One of the facilitators, former Head of State of Nigeria, General Abdulsalami Abubakar, would update us on the outcome of his mission to Niamey.

4. Similarly, as part of a coherent diplomatic initiatives, Special Envoys were dispatched to non-ECOWAS nations, particularly Libya and Algeria. During these engagements, the Envoy designated for Libya had the privilege of an audience with the President of Libya. This discourse resulted in an unequivocal expression of support for the resolutions adopted by ECOWAS aimed at restoring constitutional governance in Niger. In Algeria, the Envoy was received by the Minister of Foreign Affairs on behalf of the President of the country. These initiatives are aimed at presenting a cohesive and united stance regarding the ongoing circumstances in Niger, thus showing a collaborative and concerted approach among African nations.

Your Excellencies, Distinguished Ladies and Gentlemen,

5. Following the resolution of our previous Extraordinary Summit to initiate a meeting of the ECOWAS Chiefs of Defense Staff, the meeting of the Chiefs of Staff Committee was duly held from 2nd to 4thAugust, 2023. The outcome of that meeting, as well as a Memorandum by the President of the ECOWAS Commission on current socio-political developments in Niger, will be presented during this Summit. These will offer critical insights that will inform our collective decision-making process at this meeting.

6. Today’s Summit provides a significant opportunity to meticulously review and assess the progress made since our last gathering. It is essential to evaluate the effectiveness of our interventions and identify any gaps or challenges that may have hindered progress. Only through this comprehensive assessment can we collectively chart a sustainable path towards lasting peace, stability, and prosperity in Niger.

Moreso, in reaffirming our relentless commitment to democracy, human rights, and the well-being of the people of Niger, it is crucial that we prioritize diplomatic negotiations and dialogue as the bedrock of our approach. We must engage all parties involved, including the coup leaders, in earnest discussions to convince them to relinquish power and reinstate President Bazoum. It is our duty to exhaust all avenues of engagement to ensure a swift return to constitutional governance in Niger.

7. More specifically, as leaders of our respective nations, we must recognize that the political crisis in Niger not only poses a threat to the stability of the nation but also has far-reaching implications for the entire West African region. By remaining steadfast in our adherence to the principles of democracy, good governance, and the rule of law, we can restore peace, stability, and prosperity in the Republic of Niger, thereby fostering an environment conducive to growth and development for all.

Esteemed Excellencies, Distinguished Ladies and Gentlemen,

8. I am confident that this 2nd ECOWAS Extraordinary Summit on the Socio-Political Situation in the Republic of Niger will be a defining moment in our journey towards a stronger, more resilient, and integrated West Africa. Let us seize this opportunity to make a lasting impact on the lives of our fellow Africans as we strive to build a future defined by peace, progress, and prosperity.

9. In conclusion, I extend my gratitude to each of you for your attention to this critical issue. I trust that our deliberations will be productive and fruitful, leading us to find an amicable solution to the political crisis in Niger. As we continue to work together in solidarity and harmony, we can ensure a prosperous future for the entire West African region.

10. With these remarks, I hereby declare this Extraordinary Summit open.

Thank you all, for your attention.

 

  • West African leaders begin closed-door talks on Nigeria
  • Junta assigns ministers in defiance of regional bloc
  • U.N. says concerned over detention of ousted president

West African heads of state discussed their response to last month's military takeover in Niger at closed-door talks in Nigeria on Thursday after the junta defied their earlier threat to use force to restore democracy.

The meeting is taking place hours after Niger's coup leaders named a new government, forcing their agenda before the summit.

Since the July 26 power grab, the junta has rebuffed diplomatic overtures and ignored an Aug. 6 deadline from the Economic Community of West African States (ECOWAS) to reinstate ousted president Mohamed Bazoum.

 

Mahamane Roufai Laouali, cited as "Secretary General of the Government", named 21 ministers on state television overnight without specifying any further government plans.

Three leaders of the military takeover were named ministers of defence, interior and sports.

Former Finance Minister Ali Mahamane Lamine Zeine, who had been named prime minister on Monday, was appointed finance minister for the new government. Niger's previous government had 43 ministers and none were military officers.

 

U.N. Secretary-General Antonio Guterres voiced concern about Bazoum and his family after his party reported that they were being detained at the presidential residence without electricity or running water, and had gone days without fresh food.

"The Secretary-General... once again calls for his immediate, unconditional release and his reinstatement as Head of State," a U.N. spokesperson said on Wednesday.

 

The meeting in the Nigerian capital, Abuja, could prove a pivotal moment in the standoff. The bloc's leaders are expected to agree on next steps, which could include military intervention - something an ECOWAS official has said would be a last resort.

MIXED FEELINGS

In nearby Senegal, where the government has said it could send troops if needed, people's views about a military intervention differed.

"As long as we act to restore peace I'm a supporter," Lansanna Diedhiou said near a weekly market in the capital Dakar. "The objective of the organization is ... to act together for the African family."

Others, like Cheikh Niang, were concerned about the impact on regional ties and solidarity.

"We're all Africans and Niger is part of the African continent," he said. "We can't send Africans to wage war against each other."

Envoys of the Nigerian president and ECOWAS chair Bola Tinubu met coup leaders in the capital, Niamey, on Wednesday, offering a glimmer of hope for dialogue after previous missions were spurned.

Any escalation would further destabilise West Africa's Sahel region, one of the world' poorest, where a long-running Islamist insurgency that spread from Mali has displaced millions over the past decade and stoked a hunger crisis.

Niger had recently fared better than its neighbours Mali and Burkina Faso in stemming the violence. It also became an increasingly important Western ally for fighting insurgents after juntas seized power in the other two countries between 2020 and 2022 and cut ties with traditional partners.

DIFFERENT CONTEXTS

The coup was triggered by internal politics but it has evolved into an international entanglement, with ECOWAS, the United Nations and Western countries putting pressure on the junta to stand down, while military governments in neighbouring Mali and Burkina Faso have vowed to defend it.

In Burkina Faso's capital Ouagadougou, resident Issouf Ouedraogo felt it made no sense for his country's new leaders to support the Niger coup because the contexts were different.

"Burkina was in a situation of degradation and acute insecurity," he said in reference to the frustrations that stoked two coups there last year.

"Niger, on the other hand, was in a stable situation," he noted.

The military takeover has raised questions over whether the United States can continue the 1,100-strong military presence in Niger that officials and analysts say has been key to fighting Islamist militants in the Sahel region.

A complicating factor could be any decision by Niger's coup leaders to follow Mali's footsteps and seek help from Russia's Wagner Group, which the U.S. has designated a transnational criminal organization. Wagner's chief, Yevgeny Prigozhin, has welcomed the coup in Niger and said his forces were available to restore order.

Niger accused France on Wednesday of violating its airspace, attacking a military camp and freeing "terrorists" to undermine the country. Paris denied the charges.

[Reuters]

The House of Representatives Ad-hoc Committee On Student Loans and Access To Higher Education is meeting with the National Universities Commission (NUC), Central Bank of Nigeria (CBN), students’ representatives and other stakeholders over the proposed students loan scheme of the federal government.

Recall that President Bola Ahmed Tinubu had signed into law a bill to provide soft loans for students at tertiary institutions to undergo their studies.

 

In his opening address at the meeting, the committee chairman, Terser Ugbor, said they convened the Legislative Summit on Students Loans to gather more information from stakeholders in the education sector and other relevant bodies on the best approach and strategy to implement the Students Loans Scheme in Nigeria.

He added that the committee would present its report to the House for legislative action on the proposed amendments to the Students Loans Act.

He said, “For emphasis, students loan is an important aspect of modern education financing around the world. It creates access to education for students who would otherwise be unable to afford a higher education or unable to study professional courses needed for our scientific development, industrialization, technological advancement and economic growth.

 

 

 

“For students loans schemes to be successful, they must be easy to access, easy to repay and supported by flexible exit plans so as not to over burden our young citizens and stifle their development after graduation.”

[DailyTrust]

Niger’s junta leaders have named a new government just as heads of the Economic Community of West African States, or ECOWAS, gathered in neighboring Nigeria for an emergency summit.

According to a decree read on state television, the junta named 21 ministers. Three coup leaders were named as the heads of the ministries of defense, interior and sports. No further plans were given in the announcement.

This video frame grab image obtained by AFP from ORTN - Télé Sahel on August 9, 2023 shows Colonel Major Amadou Abdramane, reading a statement on national television. (AFP photo / ORTN - Télé Sahel )
This video frame grab image obtained by AFP from ORTN - Télé Sahel on August 9, 2023 shows Colonel Major Amadou Abdramane, reading a statement on national television. (AFP photo / ORTN - Télé Sahel )

The naming of a new government is the latest snub to regional leaders and follows the junta’s defiance of a Sunday deadline to reinstate ousted President Mohamed Bazoum.

ECOWAS leaders were arriving in Nigeria’s capital, Abuja, Thursday to discuss the Niger crisis and agree on a plan of action. The regional bloc has said that it could use force if necessary to restore democracy in Niger.

Niger's ousted leader has been in detention at his residence since members of the presidential guard took power on July 26. Bazoum’s party said Wednesday that he and his family are running out of food and have been living without electricity and running water for a week. An adviser told The Associated Press that the family has only rice and canned goods left to eat.

Wednesday a former rebel leader and Niger politician launched a movement opposing the military junta that seized power two weeks ago — the first sign of organized resistance to army rule in the West African country.

Former Niger Rebel Leader Launches Group to Oppose Junta

In a statement, Rhissa Ag Boula said his group, the Council of the Resistance for the Republic, will aim to reinstate Bazoum.

Boula is a former minister of tourism and a leader in two Tuareg ethnic insurgencies in Niger, one in the 1990s, the other from 2007 to 2009.

Until Wednesday, Niger’s military junta had rejected diplomatic overtures.

But they allowed two envoys sent by Nigerian President Bola Tinubu into the country, despite its closed borders: Lamido Muhammad Sanusi and Abdullsalami Abubarkar, both prominent traditional leaders.

Sanusi met with General Abdourahamane Tchiani, the coup leader, and Abukarkar met with other representatives at the airport.

"We’ll continue to do our best to bring the two parties together to improve understanding. This is the time for public diplomacy," Sanusi told reporters upon his return to Abuja.

A day earlier, Niger’s military junta had rejected a proposed diplomatic mission from West African states, the African Union and the United Nations. The junta leaders said a “climate of threatened aggression” made it impossible to hold talks on ending the constitutional crisis in Niger.

Niger Junta Defies ECOWAS and International Community Pressure

Late on Tuesday, ECOWAS said in a statement that it would "continue to deploy all measures in order to restore constitutional order in Niger." The 15-member bloc, along with Western allies of Niger, have placed a series of financial sanctions against the country since the coup. The financial sanctions could lead to a default on Niger's debt repayments, Reuters reported.

ECOWAS has threatened to use force to reinstate Bazoum but a deadline on Sunday for Niger’s military to stand down passed without any military intervention.

The U.S. Embassy, meanwhile, has warned Americans to avoid the presidential palace and downtown parts of the capital, Niamey, warning of an increased security presence to monitor demonstrations.

 

The embassy said Wednesday it is aware of reports that cash and some goods are becoming scarce.

A U.S. State Department spokesperson on Tuesday said the United States still has hope for reversing Niger's coup but was "realistic.”

"We do still have hope, but we are also very realistic," State Department spokesman Matthew Miller told reporters. "We do have hope that the situation will be reversed, but at the same time, we are making clear, including in direct conversations with junta leaders themselves, what the consequences are for failing to return to constitutional order.”

[VOA]

The Federal High Court sitting in Lagos has adjourned till Tuesday, Aug 15th, further hearing in the applications filed by the suspended Central Bank of Nigeria Governor, Godwin Emefiele seeking to stop the Federal Government from further remanding or prosecuting him on the charge of illegal possession of a firearm and ammunitions or on any other charge for that matter.

Justice Nicholas Oweibo ruled that the application which touched on the jurisdiction of the court was priority and would be taken alongside another application filed by the government seeking leave to appeal against the order granting bail to the suspended CBN governor.

Counsel to the suspended CBN Governor, Senior Advocate of Nigeria, Victor Opara had told the court that the application was “germane and superior by reason of the persistent, relentless disobedience of the DSS to a clear, direct and potent order of the court on the bail application of his client”.

He informed the judge that he had only just been served in court this morning, with the prosecution’s reply to the application seeking to stop the trial of the suspended CBN Governor. He also asked for a short adjournment to enable him reply on points of law to the reply of the Prosecution.

Counsel to the FG, an assistant chief state counsel, KA Fagbemi, however disagreed. She told the court that the prosecution had filed first its application seeking leave to appeal and to stay the proceedings of the court pending appeal.

She urged the court to hear the FG’s application and grant an adjournment for Emefiele’s application.

“On the principle of first in time, our motion comes first and it is ripe for hearing. It is trite that any application that seeks to bring life to a case and another that seeks death, that which seeks life should be taken first…”

“We urge the court to hear our application today. We are not opposed to an adjournment for them to respond to our reply to their own application”, she said.

After listening to both parties, Justice Oweibo in his ruling said, “The business of the court today is the hearing of the motion of the prosecution. Filing is concluded and it is ripe for hearing. The courts attention has however been drawn to the defendant’s motion.

Considering the priority of the motion which is in a way challenging the prosecution and the jurisdiction of the court, I shall allow the defence to respond so that both applications will be taken together.”

The court then adjourned to August 15th for hearing of both applications.

On August 8, the suspended CBN governor filed an application before the Federal High Court, Lagos to stop the Federal Government from further prosecuting him on the charge of illegal possession of a firearm and ammunitions or on any other charge for that matter.

He’s also seeking an order of the court discharging him of all offenses prosecuted by the Government who is in “brazen disobedience” of the subsisting orders of the court granting him bail on July 25, 2023. And a further order prohibiting the FG from continuing to enjoy any form of indulgence from the courts except and unless it complies with the bail ruling.

Through his lawyers led by Senior Advocate of Nigeria, Joseph Daudu, the suspended CBN Governor filed the application before Vacation judge, Justice Nicholas Oweibo who had admitted him to bail after his arraignment.

The application was filed pursuant to Section 6(6)(a) of the 1999 Constitution (as amended), relevant sections of the Administration of Criminal Justice Act, 2015 and under the inherent powers of the court.

Emefiele asked Justice Oweibo to stay further proceedings in the present charge until he exhausts all the remedies available to him in law to compel the government & the DSS to obey the order of the court admitting him to bail or remanding him in the custody of the Nigerian Correctional Centre until he perfects his bail terms.

The application seeks to invoke the jurisdiction of the court to enforce its orders so as not to be seen as a toothless bull dog or paper tiger.

The applicant also says that the processes seeks to preserve and protect the efficacy, majesty and integrity of the court as well as the rule of law in our democracy .

Before Emefiele’s application, the Federal Government had on Aug 3rd filed an application before the same court seeking leave to appeal against the order granting bail to the suspended CBN governor.

In the application filed by a deputy director of public prosecutions of the Federation, Nkiru Jones-Nebo, the FG has also asked the court to stay the execution of the order to remand Emefiele in the custody of the Nigeria Correctional services and an order remanding him instead in the custody of the DSS.

Justice Oweibo had fixed Thursday, Aug 10 to hear the application.

[Channels TV]

The United States has said China has the potential to influence the Nigerian government through Chinese loans.

This was stated in the Integrated Country Strategies document by the US Department of State.

 

The document was originally approved on April 6, 2022, but was reviewed and updated on June 23, 2023.

 

According to the document, China offered sub-prime financing for various infrastructure projects in the country.

The Corporate Finance Institute described a subprime loan as a loan offered to individuals at an interest rate above prime, who do not qualify for conventional loans.

The document read in part, “Meanwhile, China offers sub-prime financing for a range of infrastructure projects, with the potential to add unnecessarily to Nigeria’s debt burden and increase Chinese influence over the Nigerian government.”

Checks showed that Nigeria owed the Exim Bank of China $4.34bn as of March 2023.

It was reported in January 2022 that a Chinese company, Chinese Civil Engineering Construction Corporation, handled the majority of railway projects in Nigeria worth over $25.51bn (N10.5tn), according to the United States-based Fitch Solutions’ latest report on Nigeria’s railway system.

 

The report, titled ‘Nigeria Rail: Near-term focus on Northern region with long-term upside for Southern projects’, said Chinese financing had enabled CCECC to handle most rail projects in the country.

The report, however, listed other companies that were major players in the Nigerian railway sector.

It read in part, “China Civil Engineering Construction Corporation has dominated the railway construction sector in Nigeria, supported by Chinese financing.”

The breakdown of the top rail projects handled by CCECC showed that the approved Lagos-Calabar coastal railway project covering 1402km was awarded to the Chinese company for $11.10bn.

Also, the Abuja-Itakpe-Warri rail line project with a contract value of $3.90bn, sponsored by China Railway Construction Corporation and EXIM Bank of China, was awarded to CCECC, Julius Berger, and Sinohydro Corporation, another Chinese company, alongside General Electric. The project is still in the planning stage.

 

The Federal Government had sought loan facilities from Chinese lenders to implement several infrastructural projects, including standard gauge rail lines.

In a document titled, ‘Status of Chinese loans as at September 30, 2021’, the DMO disclosed that 15 projects were funded with Chinese loans. Four of the 15 projects were rail-related.

The US, in its Integrated Country Strategies document, also faulted the political and economic system in the country.

The document read, “Nigeria’s fundamental problem is patronage-based political and economic decision making, with little to no coordination between relevant ministries, and a disempowered civil service that does not sufficiently advise the Federal Government or sustain policy objectives over multiple administrations.

“Political and economic elites lobby for policy decisions that favour their short-term personal interests rather than the longer-term stability and unity of the state.”

[The Punch]