Sanctions Bite Hard On Niger Junta, Unable To Pay Salaries
LAGOS AUGUST 15TH (NEWSRANGERS)-The junta in Niamey, Niger Republic has started feeling the heat of the sanctions imposed on it by the Economic Community of West African States (ECOWAS).
The ECOWAS imposed the sanctions following the forceful take over of power from the democratically-elected president of the country, Mahamed Bazoum.
The sanction are effected by the West African Economic and Monetary Union (WAEMU).
The junta, metrowatchonline.com gathered, is not anymore able to pay salaries to the country’s civilian and military personnel.
A source said: “In addition, Nigerien banks are increasingly encountering problems in accessing liquidities.
“Banks in Niger are nowadays limited by the Central Bank of West African States to make disbursements, which forced them to introduce withdrawal thresholds.
“Furthermore, the prices of basic products such as rice, powdered milk and sugar have increased overall by more than 15%. And it will continue!
“The putschists have already put an end to the one-stop shop system put in place by Mohamed Bazoum to limit embezzlements and corruption in government.
“Thus, revenues of customs and tax services are, once again, collected by Public Treasury, which will allow the junta to freely plunder public funds.
“Besides, the junta is seeking cash by all means, not hesitating to use force. The SONIBANK of Niamey was forced to give 500 millions FCFA to the coup plotters, who then funded the protest from 2023, 6th of August at the Seyni Kountché stadium. If financial difficulties persist, the junta could also be tempted to seize individuals’ bank accounts under false pretexts.”
MetroWatch
Short URL: https://newsrangers.com/?p=113564
Posted by News Rangers
on Aug 15 2023. Filed under International, National Space Research and Development Agency.
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