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IMF, World Bank Must End Colonial Rule, Says ActionAid

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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

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ECOWAS@50: Liberian Students Honoured for Essays on Youth Entrepreneurship and Regional Integration

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ECOWAS@50: Liberian Students Honoured for Essays on Youth Entrepreneurship and Regional Integration

By: Michael Mike

Students in Monrovia, Liberia, have been honoured for their contributions to a regional essay competition organised to commemorate the 50th anniversary of the Economic Community of West African States (ECOWAS).

The awards ceremony, organised by the Office of the ECOWAS Resident Representative in Liberia, celebrated outstanding undergraduate essays examining the role of young people in driving development and strengthening regional cooperation across West Africa.

Launched as part of the ECOWAS@50 anniversary activities, the competition invited university and college students to reflect on the theme, “Youth Entrepreneurship as a Catalyst for National Development and Regional Integration.” Organisers said the initiative was designed to stimulate intellectual engagement among young people and encourage them to think critically about their role in shaping the future of the region.

In total, 40 essays were submitted by students from tertiary institutions across Liberia, offering diverse perspectives on how youth-led enterprise could contribute to economic growth, job creation and deeper integration among West African nations.

At the ceremony, Samuel R. Watkins of the University of Liberia emerged as the overall winner, receiving a $1,000 prize for his submission. The second-place award went to Daniel Isaac-Sie Jr. of African Methodist Episcopal University, who received $700. Organisers announced that the two winning essays will also be published in national newspapers with online platforms to broaden public engagement with the ideas presented.

The event attracted a distinguished audience that included ambassadors of ECOWAS member states accredited to Liberia, university presidents, and representatives from the Ministry of Education of Liberia, the Ministry of Youth and Sports of Liberia, and the National Commission on Higher Education of Liberia.

Speaking at the ceremony, Josephine Nkrumah, ECOWAS Resident Representative in Liberia, commended the students for the depth of thought reflected in their essays and encouraged them to continue using writing as a platform for civic engagement and policy influence.

She emphasised that empowering young people to participate actively in national and regional development remains a key priority for ECOWAS, noting that youth voices are essential in shaping policies that drive economic transformation and social progress.

Nkrumah also urged participants who did not win to remain committed to intellectual pursuits, describing the competition as a learning experience that should inspire greater academic and creative efforts in the future.

The competition forms part of broader activities marking 50 years since the establishment of ECOWAS in 1975, as the regional bloc continues to promote economic cooperation, integration and shared prosperity among its member states. Organisers say initiatives that engage young people are critical to sustaining the vision of a more integrated and economically vibrant West Africa.

ECOWAS@50: Liberian Students Honoured for Essays on Youth Entrepreneurship and Regional Integration

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Russia Hosts Classical Music Concert in Abuja to Revive Cultural Ties with Nigeria

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Russia Hosts Classical Music Concert in Abuja to Revive Cultural Ties with Nigeria

By: Michael Mike

The Embassy of the Russian Federation in Nigeria has hosted a special classical music concert in Abuja, describing the event as a significant step toward strengthening cultural dialogue and people-to-people relations between Nigeria and Russia.

The event, which drew diplomats, cultural enthusiasts, academics and members of the public, featured performances by three talented young Russian musicians from the Tchaikovsky Moscow State Conservatory, one of Russia’s most prestigious music institutions.

Speaking at the event, the Russian Ambassador to Nigeria, Andrey Podelyshev noted that the concert was organized with the support of the Russkiy Mir Foundation and the Department for Multilateral Humanitarian Cooperation and Cultural Relations of the Ministry of Foreign Affairs of the Russian Federation.

According to him, the concert represents the first cultural event of its kind organized by the Russian Embassy in Nigeria in several years and marks an important effort to revive cultural engagement between the two nations.

“This evening is not simply a concert,” the envoy said. “It is an important step toward strengthening cultural dialogue between the Federal Republic of Nigeria and the Russian Federation. We hope it will mark the beginning of a new tradition that brings our peoples closer through the universal language of music.”

He expressed appreciation to several Nigerian institutions for supporting the initiative, including the National Universities Commission for providing the venue, as well as the Federal Ministry of Art, Culture, Tourism and Creative Economy and the Nigeria Immigration Service for their cooperation.

Special recognition was also given to Abba Music School for its role in coordinating the event and facilitating the participation of the visiting musicians.

The envoy said Russia also hopes to deepen cultural exchange by creating opportunities for Nigerian artists and creative groups to perform in Russia in the future, allowing Russian audiences to experience Nigeria’s rich cultural heritage.

“We look forward to the day when Nigerian creative groups will visit Russia, enabling our audiences to appreciate the depth, diversity and richness of Nigeria’s culture,” he said.

Guests at the concert were treated to a carefully curated repertoire of classical masterpieces drawn from Russian and global musical traditions, showcasing the technical brilliance and artistry of the visiting performers.

The evening also provided an opportunity for cultural interaction among diplomats, academics, students and music lovers, reinforcing the role of arts and culture in fostering international understanding.

The Russian envoy concluded his remarks by congratulating Muslims on the occasion of Eid al-Fitr and thanking guests for attending the event.

Observers noted that the concert reflects a renewed effort by Russia to use cultural diplomacy to deepen engagement with Nigeria, particularly in the areas of education, arts and cultural exchange.

Russia Hosts Classical Music Concert in Abuja to Revive Cultural Ties with Nigeria

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Fire destroys 10 shops in Gusau shopping complex

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Fire destroys 10 shops in Gusau shopping complex

By: Zagazola Makama

A fire outbreak has destroyed ten shops at a shopping complex in Garejin Mai Lena area of Gusau Local Government Area, Zamfara State.

Sources said the incident occurred at about 2:00 a.m. on Thursday, causing extensive property losses valued at millions of naira.

The blaze was brought under control through a joint effort by security operatives and local residents who assisted in putting out the fire.

Authorities confirmed that no lives were lost and no injuries were reported during the incident.

The cause of the fire is currently under investigation as efforts continue to assess the full extent of the damage.

Fire destroys 10 shops in Gusau shopping complex

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