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IMF, World Bank Must End Colonial Rule, Says ActionAid
IMF, World Bank Must End Colonial Rule, Says ActionAid
By: Michael Mike
ActionAid has said the time is up for the International Monetary Fund (IMF) and the World Bank to stop perpetuating a colonial rule on the world.
The call was made at the weekend as the two global financial institutions conclude their Spring meetings in Washington DC this week.
ActionAid, in the statement said for the last 80 years the IMF and World Bank have been in existence, not much has changed as global South countries have been pushed further into debt and are reeling from the impacts of IMF-imposed austerity measures.
In its 2023 report Fifty Years of Failure, ActionAid found that despite following the IMF’s advice for decades, many African countries are in debt distress or facing a high risk of debt distress. Austerity measures have blocked the recruitment of teachers, doctors and nurses, even in countries with severe shortages, and has squeezed public sector salaries at a time of a rising cost of living.
Global Lead on Economic Justice and Public Services at ActionAid International, Roos Saalbrink, said:“Countries in the global South have since the structural adjustment progammes been in perpetual austerity, eroding public health and education. At a time of unprecedented climate crisis and debt crisis in the global South, the Bretton Woods Institutions continue to oil the wheels of colonial exploitation and extraction. At the same time global South governments have very little say in the policies coming from these institutions at the centre of the international financial architecture. 80 years is enough.”
The statement said ActionAid is also concerned about a ‘gentleman’s agreement’ which has ensured that the IMF managing director has for 80 years been European and the World Bank president a US national.
Country Director of ActionAid USA, Niranjali Amerasinghe, said: “Kristalina Georgieva’s appointment is a continuation of the colonial era ‘gentleman’s agreement’, where rich western powers have the most say. It is unacceptable that 80 years later we are still having to call this out. The IMF must change its leadership selection process, its decision-making model, and the harmful practices that keep developing countries in a cycle of crisis.
“As the climate crisis wreaks havoc, global South countries are so deep in debt that they cannot adapt to these impacts. We are calling for debt cancellation and tax justice to help these countries free up the finances needed to build resilience to climate impacts.
“We need to see an overhaul of the international financial architecture with a proper debt workout mechanism, a UN tax convention, to ensure global South governments have a say over policies impacting them disproportionately.”
ActionAid is a global federation working with more than 41 million people living in more than 71 of the world’s poorest countries, the organisation wants to see a just, fair, and sustainable world, in which everybody enjoys the right to a life of dignity, and freedom from poverty and oppression. We work to achieve social justice and gender equality and to eradicate poverty.
IMF, World Bank Must End Colonial Rule, Says ActionAid
2026 teachers’ summit: Zulum stands in for NGF chair, commends FG for NELFUND
By: Michael Mike
Borno State Governor, Prof. Babagana Umara Zulum, on Monday, attended the National Teachers’ Summit held at the Banquet Hall of the Presidential Villa, Abuja, where he stood in for the Chairman of Nigeria Governors’ Forum (NGF).
Governor Zulum commended the Federal Government for its strategic investments in education, citing the positive impact of Students Loan Scheme, the strengthening of key educational institutions, and the upward review of salaries for federal university teachers as evidence of a clear policy direction aimed at revitalising the sector.
The Governor reaffirmed his administration’s unwavering commitment to educational development and human capital advancement in Borno State.
The summit, convened by the Federal Ministry of Education, provided a strategic platform to review the state of Nigeria’s education sector, strengthen policy implementation, and formally launch “Edu Revamp”, a platform to enhance teacher capacity, utilise digital tools for 21st-century skills, and foster collaboration to improve learning outcomes.
About 12 exemplary teachers were honoured for their outstanding service to the nation. Six teachers—one from each of the six geopolitical zones—from the Universal Basic Education Board (UBEB), alongside six secondary school teachers, received cash awards of ₦25 million each. The Overall Best Teacher award was presented to Mr Solanke Francis Taiwo, who received a cash prize of ₦50 million.
Governor Zulum commended the First Lady, Senator Oluremi Tinubu, for hosting the maiden National Teachers’ Summit at the Presidential Villa, describing the initiative as a clear demonstration of the Federal Government’s prioritisation of education.
He particularly applauded her sustained advocacy for girl-child education and her support through scholarships and grants that continue to reduce barriers to educational access for vulnerable Nigerians.
He also praised the Honourable Minister of Education, Dr Maruf Olatunji Alausa, and the Minister of State for Education, Prof. Suwaiba Said Ahmad, for their focused and reform-driven leadership.
2026 teachers’ summit: Zulum stands in for NGF chair, commends FG for NELFUND
News
Kyari Urges Fairer Global Trade Rules as Nigeria Participates in Cocoa Beyond Borders Conference in UK
Kyari Urges Fairer Global Trade Rules as Nigeria Participates in Cocoa Beyond Borders Conference in UK
By: Our Reporter
Nigeria is participating in the Cocoa Beyond Borders 2026 Conference in the United Kingdom, joining global policymakers, industry leaders, financiers, and farmer representatives to examine power imbalances and compliance challenges in the global cocoa sector.
Delivering a keynote address, Senator Abubakar Kyari, CON, Honourable Minister of Agriculture and Food Security of Nigeria, challenged existing trade and compliance regimes, stating that cocoa-producing nations “must not remain rule-takers in a system where the rules are made without their meaningful input.”
Speaking within the conference theme, “Rules Without Recourse? Navigating Compliance, Power, and Trade Justice in the Cocoa Sector,” the Minister warned that sustainability frameworks would fail if they undermine farmer livelihoods and national sovereignty, stressing that “compliance cannot be just if it weakens producer economies while protecting markets elsewhere.”
Senator Kyari also cautioned against the weaponisation of ESG and environmental regulations as non-tariff barriers, noting that climate action must advance alongside fairness and equity in global trade.
He reaffirmed Nigeria’s commitment to reclaiming value across the cocoa supply chain, emphasising the need for producing countries to move beyond raw exports to processing, branding, and greater market influence, while calling for stronger producer-led alliances to reshape global cocoa governance.
The two-day conference is examining ESG compliance, digital traceability, climate finance, price volatility, and the future of cocoa innovation, positioning cocoa as a strategic asset in global trade justice.
Kyari Urges Fairer Global Trade Rules as Nigeria Participates in Cocoa Beyond Borders Conference in UK
Armed robbery foiled by Bauchi Police, three suspects arrested in Bauchi
By: Zagazola Makama
Three persons were arrested following a foiled armed robbery along the Bauchi–Gombe Federal Highway in Kirfi Local Government Area of Bauchi State on Jan. 26.
Sources said the incident occurred at about 12:16 a.m. when armed robbers blocked the road near Kalajanga Hamlet via Bara Village.
Officers on routine patrol responded promptly, engaging the hoodlums and forcing them to abandon their operation and flee into the surrounding bush.
The trail of the robbers led authorities to the house of one Nasiru Ibrahim of Saddiya Hamlet, where two of his children, Isya Nasiru, 20, and Umar Nasiru, 18, were also arrested in connection with the case.
Recovered items included two sticks, a touch light, three bags, a local bullet-proof shirt, face masks, two pairs of shoes, an Oppo android phone, and several local charms.
Sources say Investigations are ongoing.
Armed robbery foiled by Bauchi Police, three suspects arrested in Bauchi
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