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Tinubu Has Surrendered Nigeria’s Sovereignty to IMF, World Bank – HURIWA

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Human Rights Writers Association of Nigeria (HURIWA) has condemned President Bola Tinubu’s recent economic policies, saying they have undermined Nigeria’s sovereignty.

Tinubu Has Surrendered Nigeria’s Sovereignty to IMF, World Bank – HURIWA

Bola Tinubu

HURIWA noted that the condemnation comes in the wake of Tinubu’s dramatic policy shift, which starkly contrasts with his previous stance against similar policies under former President Goodluck Jonathan.

In a press statement, HURIWA recalled that before ascending to the Presidency, Tinubu was a vocal critic of the International Monetary Fund (IMF) and World Bank’s economic prescriptions.

According to the group, during Jonathan’s administration, Tinubu, and other prominent figures, including then-opposition leader Muhammadu Buhari, fiercely opposed the IMF and World Bank’s recommendations such as the removal of subsidies and the devaluation of the Naira, arguing that these policies would harm Nigeria’s economic stability and undermine the nation’s sovereignty.

“However, since taking office, Tinubu has adopted and intensified these very policies, leading to accusations of hypocrisy from various quarters.

“Critics have criticized Tinubu for this reversal, labeling it a betrayal of his earlier principles. According to them, Tinubu’s current endorsement of the IMF and World Bank measures, which he previously opposed, represents a significant departure from his earlier stance and effectively compromises Nigeria’s economic independence,” HURIWA stated.

HURIWA echoed these concerns, arguing that the devaluation of the Naira and the implementation of foreign-influenced economic policies weaken Nigeria’s financial sovereignty.

The association pointed out that by aligning Nigeria’s economic strategy with foreign interests, the current administration is ceding control over the country’s financial system to external forces, stressing that this shift not only diminishes the nation’s economic autonomy but also places Nigeria at the mercy of international economic pressures.

In addition to criticizing the economic policies, HURIWA also linked these measures to broader security concerns.

The association contended that the failure of Nigeria’s security agencies to effectively protect the country’s borders is directly related to the administration’s economic strategies.

According to HURIWA, inadequate border security has allowed armed non-state actors and criminals to infiltrate the country, further threatening Nigeria’s sovereignty. This situation, HURIWA argues, is a consequence of prioritizing foreign economic directives over national stability and security.

HURIWA’s critique extended to a call for the government to adhere to the Central Bank of Nigeria (CBN) Act, which obliges the administration to stabilize the Naira.

The association emphasized that protecting the national currency is crucial for maintaining Nigeria’s economic sovereignty and stability. Additionally, HURIWA urged the government to improve efforts to secure Nigeria’s borders, reinforcing measures to prevent the infiltration of terrorists, arms smugglers, and other illicit actors.

Drawing comparisons with other nations, HURIWA highlighted how countries like the United States, Canada, Australia, and the United Kingdom have successfully defended their economic and territorial sovereignty.

“These countries have implemented policies that prioritize national interests, maintaining strong control over their economic systems and borders. For instance, the United States has resisted external pressures to devalue the Dollar, ensuring a stable currency that supports its economic strength. Similarly, Australia and Canada have fortified their borders against illegal entries, safeguarding their territorial integrity”, HURIWA added

HURIWA further argued that Nigeria’s political leaders should adopt similar strategies to protect both economic stability and national security.

The association suggested that by resisting foreign-imposed economic measures and focusing on strengthening border protection, Nigeria can safeguard its sovereignty and ensure a more secure and prosperous future.

“HURIWA’s criticism of President Tinubu’s policy reversal underscores the broader implications of adopting IMF and World Bank directives. Our call for adherence to the CBN Act and the enhancement of border security highlights the interconnectedness of economic policies and national sovereignty.

“As Nigeria faces ongoing economic and security challenges, Our recommendations offer a pragmatic approach to achieving stability and defending the nation’s interests against external influences,” the statement added.

 


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TikTok Returns on Apple, Google US App Stores as Trump Delays Ban

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TikTok returned to the U.S. app stores of Apple and Google on Thursday as President Donald Trump delayed a ban on the Chinese-owned social media app and assured the tech giants they would not be fined for distributing or maintaining it.

The popular short video app used by nearly half of all Americans went dark briefly last month, before a law took effect on January 19 that requires its Chinese owner ByteDance either to sell it on national security grounds or face a ban.

The following day, Trump signed an executive order seeking to delay the enforcement of the ban by 75 days, allowing TikTok to continue its operations in the U.S. temporarily.

Although TikTok resumed service after Trump’s assurances, Google and Apple kept the app removed from their U.S. app stores.

TikTok, the second-most downloaded app in the U.S. last year, said on Thursday that its latest app was now available for download.

The delay could have been because Google and Apple were awaiting assurances that they would not be prosecuted for hosting or distributing the app, according to analysts.

Trump’s directive said the companies, which run mobile application stores or digital marketplaces where users can browse, download and update apps, would not face penalties for keeping the TikTok app up and running.

TikTok had more than 52 million downloads in 2024, according to market intelligence firm Sensor Tower.

About 52% of its total downloads were from Apple App Store, while 48% were from Google Play in the U.S. last year, Sensor Tower said.

The law that requires ByteDance to sell TikTok’s U.S. assets or ultimately face a ban was signed by then President Joe Biden last April, triggered by national security concerns and fears that China could use the video-sharing app to spy on American users.

The U.S. has never banned a major social media platform and the law that passed last year gives the government sweeping authority to ban or seek the sale of other Chinese-owned apps. Trump said on Thursday that his 75-day deadline on TikTok could be extended.

The turmoil at TikTok attracted several potential buyers, including former Los Angeles Dodgers owner Frank McCourt, who have expressed interest in the fast-growing business that analysts estimate could be worth as much as $50 billion.

Trump has said that he was in talks with multiple people over TikTok’s purchase and would likely have a decision on the app’s future in February.


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FG Order MDAs to Close Commercial Banks’ Accounts, Enforce TSA Policy

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Federal government has directed all Ministries, Departments, and Agencies (MDAs) operating in states to close their accounts with commercial banks and fully comply with the Treasury Single Account (TSA) policy.

FG Order MDAs to Close Commercial Banks’ Accounts, Enforce TSA Policy

Dr. Oluwatoyin Madein, accountant-general of the Federation,

The directive was issued by Dr. Oluwatoyin Madein, accountant-general of the Federation, during a working visit to the Federal Pay Office in Benin, Edo State.

This was disclosed in a statement released on Thursday by Bawa Mokwa, director of Press and Public Relations at the Office of the Accountant-General of the Federation.

Reaffirming the government’s commitment to the TSA policy, Madein warned that no MDA should operate accounts with commercial banks unless expressly approved by the President and officially communicated by her office.

The statement reads:

“While reiterating the Federal Government’s commitment to the Treasury Single Account policy, the Accountant-General of the Federation urged the Federal Pay Officers to monitor and ensure that Ministries, Departments, and Agencies in the States do not operate any account with the commercial banks or circumvent any provision of the TSA policy.”

She further stressed that any exceptions must follow strict guidelines, requiring presidential approval and formal communication from the Office of the Accountant-General.

Madein also tasked Federal Pay Officers (FPOs) with ensuring compliance, upholding transparency, and maintaining professionalism in their financial operations.

She warned against actions that could undermine the integrity of the Federal Treasury and emphasized the need for accurate financial record-keeping.

As part of ongoing reforms, she revealed that the Federal Government is constructing new Federal Pay Offices in some states to address infrastructure and operational challenges.

She assured that her office remains committed to the welfare of its personnel while enforcing compliance with financial regulations, including the Public Procurement Act and the Constitution.

Her visit to the Benin Federal Pay Office was part of a nationwide tour to assess the operations and challenges of Federal Pay Offices across the country.


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NBRDA Investigates Biocatalysts for Bioethanol Production

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National Biotechnology Research and Development Agency (NBRDA) is investigating the development of biocatalysts from underutilised bioresources through its Young Researchers Forum (YRF) research group for bioethanol production.

NBRDA Investigates Biocatalysts for Bioethanol Production

Prof. Abdullahi Mustapha, director general, NBRDA sated this in an interview conducted in Abuja on Wednesday

Biocatalysts, which can be either bacteria or enzymes, are biological entities that accelerate chemical reactions.

An alcohol-based fuel derived from renewable resources such as plants and algae is called bioethanol. It can be blended with petrol or used in place of it to cut down on petroleum use.

He asserted that bioethanol is crucial and that Nigeria has the means to fully investigate its possibilities, noting that the production of bioethanol will be helpful in setting up bioethanol plants.

“However, the catalyst for the fermentation of sugar to produce ethanol is what we are after, and we have it locally.

“When we isolate the biocatalyst, it is going to be useful in helping to establish a bioethanol factory, which will function very well due to our varying weather conditions,’’ he said.

Bioethanol has similar uses to fuels used to generate other classes of energy like heat, motor power, transportation, and electricity, the NBRDA chief added.

According to him, bioethanol is the most widely used biofuel in modern civilisation, and the process of turning biomass into bioethanol is receiving a lot of attention.

“Biological energies are renewable fuels with minimal pollution and play an important role in reducing greenhouse gas pollution, and one of them is bioethanol, which is obtained from fermentation operations.

“The world’s attention to the use of bioethanol as an energy source is focused on reducing the cost of production and increasing the efficiency of the ethanol industry.

“By consuming ethanol fuel instead of fossil fuels, the amount of greenhouse gas emissions known to be the cause of global warming will be somehow reduced,’’ Mustapha said.

According to the D-G, the creation of the Young Researchers Forum (YRF) demonstrates the agency’s efforts to support nation-building.

He added that young biotech innovators chosen from across the agency’s departments will use the conference as a training ground and launching pad.

The YRF, according to Mustapha, was a manifestation of his wish to establish an institutional framework for mentoring that would close generational divides.

He stated that one of the projects the YRF would concentrate on was the development of biocatalysts for the manufacture of bioethanol.


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