President Tinubu has ordered the reopening of Nigeria’s borders with the Niger Republic
Breaking: President Bola Tinubu has ordered the reopening of Nigeria’s borders with Niger, removing all sanctions against the country. He also lifted financial and economic sanctions imposed on Guinea to improve relations.
The Nigerian president, who also doubles as the leader of the Economic Community of West African States, placed heavy sanctions on the West African nation after a coup that overthrew the democratically elected government. Following the July 26 coup in Niger, the country faced a series of sanctions imposed by its regional and Western allies.
Some of the sanctions include
• ECOWAS suspended all commercial transactions with Niger.
• State assets in the regional central bank were frozen.
• Assets of the state and state enterprises in commercial banks were also frozen.
• Financial assistance with regional development banks was suspended.
• These financial sanctions led to a default on Niger’s debt repayments.
• A planned 30 billion CFA francs ($51 million) bond issuance by Niger in the West African regional debt market was canceled.
• Nigeria cut power supply to Niger on the 80-megawatt Birnin-Kebbi line, while Ivory Coast suspended imports and exports of Nigerien goods.
This announcement signals the stabilization of relations between the West African neighbors, who were on the verge of an armed conflict after the military takeover in Niamey.
