Sanctions Force ⅝Coupists Into Submission
● Cuts in power supply, freezing of Niger assets, suspension of loans and aid ground economic activities, small businesses;
● But local support for the junta remains intact;
● Bazoum to be tried for high treason
By Ogbonna Nwuke (Telegraph’s Editor-in-Chief)
The President of the most populous nation in Africa and his Vice exchange views.Signs that the economic sanctions slammed on the Nigerien Republic by ECOWAS nations may be having a huge impact have surfaced.
Nigeriens are groaning as a result of the border closure, freezing of their nations financial assets in banks as well as the suspension of external aid.
Those who spoke on Arise News said they were losing billions in cross border trade, following the impact that restrictions at the border are currently causing.
Small businesses as well as public utilities and families which depend on cheap power supply from Nigeria’s energy sector are feeling the pinch.
TV cameras recently brought home images of what is happening in Niger. It showed that most economic activities are being paralysed as the sanctions take effect.
The financial sanctions imposed by ECOWAS could lead to a default on Niger’s debt repayments, The Telegraph has heard.
According to facts, a planned 30 – billion CFA francs ($51 million) bond issuance by Niger in the West African regional debt market was cancelled by the regional central bank following the imposition of sanctions.
Similarly, ECOWAS has suspended all commercial transactions with Niger, frozen its state assets in the regional central bank, frozen assets of the state and state enterprises in commercial banks, and suspended all financial assistance with regional development banks.
Niger had planned to raise 490 billion CFA francs ($834 million) from the regional debt market in 2023, Reuters has reported.
Niger’s total budget for the 2023 fiscal year is put at 3,245 billion CFA francs ($5.53 billion).
Given its deficit budgeting, around 342.44 billion francs was expected to come from external budget support and loans.
The United States spends which spends about $500 million on Niger as well as the European Union which has been extending aid to that country are putting their support on hold due to moves to scuttle democracy by a return to military rule.
Sanusi (left) standing with the Nigerien leader when recently visited that country. Conflicting Opinion:
There may be people, some of them Nigerians, who argue that what has happened in Niger, leading to a coup is its internal matter.
But, the world has become increasingly a global village, with a new trend known as globalisation – a growing concept in an ever changing environment – turning into a very important and significant factor in relations between countries.
ECOWAS nations however insist that the sanctions and a threat to use of force are necessary.
Quattara, the Ivorian President described the action of the military junta which is holding President Bazoum hostage as bare-faced kidnapping.
Tinubu Bashing:
Tinubu bashing has become a major pastime particularly in Nigeria. Throwing caution to the wind, especially in matters relating to Nigeria’s national interest and national security, some Nigerians have rushed to the gallery to launch charades at the person of the President.
It would appear that local differences driven by divisive politics may be playing a prominent role in all of this as the country struggles to regain its place within the comity of states.
Joe Keshi who served as a Nigerian ambassador blurted out on television that sanctions will not work.
He condemned in the most undiplomatic manner, the ECOWAS decision to launch a military strike if the Nigeriens who were evading conversations at the diplomatic level became more belligerent.
Sule Lamido, a former state governor and close associate of President Olusegun Obasanjo took his turn to lash out at Tinubu, saying the Nigerian President knows less to nothing about foreign policy.
Yet, in the absence of a Minister of Foreign Affairs, a ministry staffed with hard-nosed professionals, some of whom are career diplomats and whose inputs may have been sought, have been treated like shit since the coup by Tinubu bashers.
We Are Sorry:
The Nigerien authorities who obviously know where the shoe pinches hurriedly tendered apologies to Nigeria and its leader, President Bola Tinubu who is the chairman of ECOWAS.
The reaction may have sent signals that the army in Niger wants peaceful co-existence with its neighbours.
However, it provided indications that the stringent sanctions imposed on that country by ECOWAS are working.
Abdourahmane Tchiani, the army General who holds sway in Niamey assured emissaries from Nigeria led by a Muslim cleric, Bala Lau that they were now ready to talk.
Lau expressed optimism that negotiations which have been stalled by reactions to the coup would commence.
Recall that the former Governor of Central Bank and an Emir of Kano deposed by the Ganduje government had visited Niger where he met with the military leaders.
ECOWAS Reaction:
There has been no official reaction since junta leaders made their move. Similarly, neither the ECOWAS Secretariat nor the Nigerian authorities have said anything.
But Lau said they were well treated by the leadership of the military junta while engaging them in talks.
He said that Niger was ready to sit round the table with Nigeria and other ECOWAS nations at any venue that may be chosen.
It is very likely that ECOWAS leaders may be considering the offer from Niamey behind the scene.
There were however evidence that there have been sighs of relief as prospects of war evaporates.
Will ECOWAS seize the initiative by taking advantage of the pledge by the military junta to embrace diplomacy?
Will the military leaders abide by ECOWAS demands when talks open?
Many across the world including national governments and ordinary Nigeriens would be hoping that the two sides would make progress when they come face to face.
In the meantime, backers of the military regime are rallying support for the coup and condemning African leaders led by their West African counterparts for taking a strong stance against a fellow African nation.
Rallies are being held in public places across Niger by pro-military supporters who are urging them to ignore world opinion.
After begging Nigeria for forgiveness the military rulers are threatening to try Bazoum for high treason.