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Coup in Niger: several UEMOA sanctions against the military junta

02/08/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Following the state cost announced on Monday, July 31, 2023 in Niger, the West African Economic and Monetary Union (UEMOA) has imposed economic and financial sanctions against the military junta.

Air and land borders between Niger and UEMOA countries now closed. Any aircraft coming from or going to Niger is prohibited from flying over space. All commercial and financial transactions between UEMOA countries and Niger suspended, including those involving petroleum products, electricity, goods and services. Also, all financial transactions between UEMOA countries and Niger are suspended.

Likewise, it is noted the suspension of the financial and monetary assets of Eastern Niger in the BCEAO and in the commercial banks of the UEMOA countries, as well as the suspension of the financial and monetary assets of public and parastatal enterprises of Niger in the BCEAO and in the commercial banks of the UEMOA countries.

Par ailleurs, les financial operations between banks in Niger and banks and banks located in other UEMOA countries are also suspended, thus from all assistance and financial transaction in favour of Niger by the UEMOA financing institutions in particular the BOAD style="font-family: "Bookman Old Style”, “serif"">. It should also be noted the travel ban for the perpetrators of this attempted coup, and the suspension of their financial assets and the confiscation of their assets.

The freezing of assets and the confiscation of property apply to all civilian or military persons who participate in institutions and bodies of government that the military would attempt to constitute in this coup de force and will apply to the families of the persons concerned, who would also be prohibited from staying in countries in the UEMOA region.
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