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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
Security forced arrested three over illegal arms dealings in Bauchi
By: Zagazola Makama
Three men have been arrested for allegedly engaging in illegal weapons dealings in Bauchi State, security sources said.
The suspects, identified as Peter Pama and Saleh Monday, both of Iburu, and Sunday Makama of Kasuwan Magani, were apprehended on Feb. 17 following intelligence on illicit arms activities.
Zagazola gathered that one locally fabricated AK-47 rifle and one fabricated pump-action gun from the suspects.
Investigations into the case are ongoing as security agencies work to determine the full extent of the arms network.
Security forced arrested three over illegal arms dealings in Bauchi
Joint troops repel bandit attack in Katsina, neutralise two and recover motorcycle
By: Zagazola Makama
Joint troops of Operation FANSAN YANMA have repelled an armed bandit attack in Gida Soda Village, Katsina State, neutralising two attackers and recovering a motorcycle, security sources said.
The incident reportedly occurred at about 12:45 a.m. on Feb. 17 when suspected bandits stormed the village. Troops, acting promptly in coordination with local police and Civil Watch Patrol Teams, engaged the attackers in an intense gunfight, forcing the criminals to flee.
During the operation, two of the bandits were neutralised, and a Boxer-brand motorcycle belonging to the group was recovered.
Tragically, one resident, Hassana Muhammad, 30, was reportedly fatally shot during the attack. She was rushed to Dansoda Hospital, where she was pronounced dead by medical personnel.
Sources said efforts to track fleeing bandits and secure the area are ongoing.
Joint troops repel bandit attack in Katsina, neutralise two and recover motorcycle
AACIS’26 Set to Open $40 Trillion Africa-Caribbean Market
By: Michael Mike
The 2026 edition of the Aquarian Consult’s Afri-Caribbean Investment Summit (AACIS’26) will focus on boosting trade, investment, and private sector partnerships between Africa and the Caribbean, targeting a combined market valued at $40 trillion across Africa, the Caribbean, and the Americas.
The Chief of Staff of Aquarian Consult Ltd, Serumun Ubwa, disclosed this while briefing journalists in Abuja, ahead of the summit scheduled for March 23–28, 2026.
She described AACIS as a strategic platform designed to connect African businesses with Caribbean partners, attract foreign investment, and promote sustainable economic collaboration across key sectors.
Ubwa highlighted that the inaugural AACIS in 2025 achieved landmark outcomes, including the establishment of the first direct flight from Africa to Saint Kitts and Nevis, the signing of Memoranda of Understanding in agriculture and cultural exchange, and a $40 million deep-water port agreement. She said these successes set the stage for the 2026 summit, which will expand opportunities for trade and investment.
She revealed that the 2026 summit will introduce two specialized events: the Afri-Caribbean Agriculture and Food Security Summit (March 23–24) and the Afri-Caribbean Health Summit (March 26), running alongside the main Investment Summit from March 25–28.
“By focusing on agriculture and healthcare, we aim to strengthen regional cooperation, enhance food security, open new export markets for African producers, and support policy frameworks that reduce import dependence in the Caribbean,” Ubwa said.
She added that the summit will feature structured Business-to-Business (B2B) and Business-to-Government (B2G) matchmaking sessions, an Investor Deal Room managed by investment promotion agencies, and sector-specific engagements in agriculture, healthcare, pharmaceuticals, renewable energy, tourism, digital technology, and the creative economy.
Ubwa added that over 2,000 participants are expected, including current and former heads of government, sovereign wealth funds, multilateral institutions, and private sector leaders. She emphasised that AACIS seeks to strengthen South-South cooperation and increase Africa-Caribbean trade, which currently represents less than one per cent of total trade between the regions.
Interested participants are expected to register for the summit at www.aquarianconsult.com/AACIS.
AACIS’26 Set to Open $40 Trillion Africa-Caribbean Market
Bandit attack in Zamfara leaves one dead, three abducted
Security forced arrested three over illegal arms dealings in Bauchi
Joint troops repel bandit attack in Katsina, neutralise two and recover motorcycle
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