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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
News
Gombe Govt restates commitment to MSMEs growth
Gombe Govt restates commitment to MSMEs growth
The Gombe State Government, on Friday engaged stakeholders in the finance sector towards easing access to credit and ensuring the growth of Micro, Small and Medium Enterprises (MSMEs) in the state.
Malam Muhammad Magaji, the state’s Commissioner of Finance and Economic Development stated this in Gombe while declaring open the State Action on Business Enabling Reforms (SABER) Programme, themed: “Guide to Access Credit”.
Magaji said that the meeting was aimed at creating an environment conducive for business growth by removing the bottlenecks around accessing finance.
He said that the administration of Gov. Inuwa Yahaya of Gombe State has prioritised the development of businesses and industries to drive economic prosperity for the state, create jobs and improve the wellbeing of residents.
Magaji who was represented by Mr Jalo Ibrahim, the Permanent Secretary, Ministry of Finance and Economic Development said that the state is now more deliberate in supporting small business owners to grow.
According to him, Yahaya-led administration’s commitment to MSMEs growth is to ensure inclusive growth of the economy in view of the role of such small businesses to economic transformation.
“We are engaging the financial institutions and relevant stakeholders to see how we can remove the barriers affecting access to credit to SMEs in the state.
“This is part of the current administration’s commitment to strengthening access to loan facilities that would give life to small businesses and help more youths start up businesses.
“We are very committed as a government to see to it that we provide all the needed supports to make doing business in Gombe State easy.
“Government will inject more money into the system to serve as collateral for business owners and also serve as guarantor to those who are willing to access finance,” he said.
On his part, Alhaji Nasiru Aliyu the Commissioner for Trade, Industry, and Tourism,
Gombe State restated the state government’s commitment to industrialising the state and attracting investors.
Aliyu said that Yahaya’s administration had invested a lot to boost industrial growth and turn the state into the industrial and evonomic hub of North East.
Mr Kabiru Tsoho, the SABER focal person for Gombe State said that the SABER Programme is a World-Bank project aimed at easing businesses towards accelerating the growth of the economic sector.
Tsoho said the engagement would help remove impediments to accessing finance and encouraging business growth.
“This will help improve business environment and encourage investment which would provide more opportunities for jobs to be created and for economic empowerment of women and youths,” he said.
Mr Sanusi Abdullahi, Chairman, Traders Association of Nigeria, Gombe State chapter commended the initiative by the state government and World Bank to make doing business easy.
Abdullahi said with improved access to loans, there would be more youth employment and improvement in the standard of living of residents of the state.
Gombe Govt restates commitment to MSMEs growth
News
Troops arrest gunrunner, recover arms, ammunition in Plateau
Troops arrest gunrunner, recover arms, ammunition in Plateau
By: Zagazola Makama
Troops of 3 Division of the Nigerian Army under Operation Joint Task Force, Operation Enduring Peace (OP Enduring Peace), have arrested a suspected gunrunner and recovered arms and ammunition in Bokkos and Mangu Local Government Areas of Plateau State.
The operations, conducted on Thursday, were part of ongoing efforts to mop up illicit arms and ensure a peaceful yuletide season within the Joint Operations Area, military sources said.

In the early hours of the day, troops, in conjunction with operatives of the Department of State Services (DSS), raided a suspected criminal hideout at Gwender Village in Bokkos Local Government Area, following intelligence reports.
Although the suspects reportedly fled before the arrival of the troops, a search of the hideout led to the recovery of one fabricated AK-47 rifle with a magazine, one fabricated pistol and several rounds of ammunition of different calibres.
In a related operation, troops working with a DSS Tactical Team mounted a snap checkpoint at Mairana in Mangu Local Government Area, based on credible intelligence.
During the operation, a Fulani youth was intercepted and arrested while in possession of two boxes of ammunition containing 1,400 rounds of 7.62mm special ammunition.
The suspect and the recovered items are currently in custody for further investigation, while troops have intensified follow-up operations to apprehend other members of the suspected criminal syndicate.
The military reiterated its commitment to sustaining pressure on criminal elements to ensure peace and security across Plateau State and the wider Joint Operations Area.
Troops arrest gunrunner, recover arms, ammunition in Plateau
News
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
By: Our Reporter
Borno State Governor, Prof. Babagana Umara Zulum, has launched an empowerment package worth N1,000,000,000 targeting thousands of young residents, mostly GSM repairers and technicians.
The initiative targets 1,050 youths who will be trained on phone repairs and maintenance; about 3,000 other apprentices will receive cash.

Each of them will receive a complete set of modern working tools, including an 852D hot air rework station, a separating machine Kc2025, a battery booster S2025 pro, an adjustable temperature soldering iron V900c, a digital multimeter DT9205Plus and a precision screw driver set 60 in 1, to enhance their own repair businesses.
In addition to the tools, all 1,050 GSM repair trainees will receive direct cash support to serve as seed capital for their ventures.
The disbursement comprises four categories: the first group, consisting of 26 beneficiaries each receiving N1 million; the second group, 189 beneficiaries each receiving N300,000; the third group, 835 beneficiaries each receiving N100,000; and the fourth category, 3,500 apprentices, each receiving N100,000 and different calibres of working tools. The training cost is N482 million.

Speaking during the launching ceremony, Zulum said: “It gives me immense pleasure and a deep sense of fulfilment to stand before you today on this historic occasion—the official launch of the disbursement of N1 billion empowerment scheme alongside the training of operators at the GSM Market here in Maiduguri.”
The governor also recalled several initiatives by his administration on investment in human capital development.
He said, “Only recently, this administration took a bold and visionary step by sponsoring two hundred youths to study aircraft piloting and aeronautic engineering at Isaac Balami University.
“This initiative is designed to place Borno State on the global aviation map and demonstrate that, despite our challenges, we are preparing our youths for world-class opportunities. The process is almost completed.

“So far so good, about 400 Borno state indigenes are pursuing PhDs and master’s degrees abroad. In addition, 100 of our youths are currently studying Medicine and related courses in China.”
The occasion was attended by the senator representing Borno Central, Barrister Kaka Shehu Lawan; members of the House of Representatives; the deputy speaker of the Borno State House of Assembly, Engr Abdullahi Askira; commissioners and senior government officials.
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
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