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Gbagbo withdraws $160m from West African Central Bank

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Laurent Gbagbo

Incumbent Ivorian President Laurent Gbagbo is reported to have successfully withdrawn an amount of $160 million from the West African Central Bank, despite sanctions imposed on his government following Ivory Coast’s political stand-off.

The country has two presidents following a disputed election run-off on November 28, 2010. The opposition leader Allsane Ouattara and incumbent Laurent Gbagbo both claimed victory and have since been sworn in as presidents.

While Gbagbo is in the presidential palace, Ouattara is in a hotel in the capital Abidjan.

The international community supports Ouattara and have imposed various sanctions on Gbagbo to force him to stand down, but he is yet to agree to do so.

The World Bank, the IMF and the West African Central Bank have all imposed sanctions on Gbagbo believing that economic pressure would force him out of power. Gbagbo is supported by the country’s army and the international community believes that if he is unable to access any more funds to pay salaries of the soldiers, they may turn against him and force him out of power.

Meanwhile, Gbagbo’s ally at the bank, has been forced to quit. Governor Philippe Dacoury-Tabley, an Ivorian, quit after the bank held a meeting Saturday. He was said to have failed to implement an order to reject Gbagbo’s signature for funds. He however said, he couldn’t so so for technical reasons.

Outtara, meanwhile has been asked to nominate a new bank boss.

The bank is made up of treasuries of eight countries in West Africa.

By Emmanuel K. Dogbevi

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2 comments

  1. The statement credited to European union and united states or UN as it may be called; “that the international community believes that if he is unable to access any more funds to pay salaries of the soldiers, they may turn against him and force him out of power”
    This statement shows that the international community or the european union or the United states are responsible for series of military coupe in west african region.
    They are encouraging the armies to take over power and they said that they are preaching democrasy! what a shame.
    What did the UN and the so called international community did as regards to the military coup in Niger, Monitania, madagascar etc. they did not do anything instead they are supporting the military indirectly because they are the ones that sponsored the coup.

    My fellow africans, quote me right by saying that if the UN, and the so called colonia france and united states did not meddle in the affairs of ivory coast, the country will be in peace and Mr Ouattara would have respected the verdict of their consitutional council which is mandated by law to validate an election.
    Present barrack Obama should aswell respect the soverynty of Republic of cote ivore. the same applicable to france and UN.
    They did the same thing in Zimbabwe and it did not work out so it will not work out in cote ivoire.
    If i were Mr Gbagbo, i will not have to stress myself too much because he is the rightful president and validated by the law of the republic of cote ivore.
    What he will do is to send his soldiers to block all the embassies of country that have send his envoy parking. and nobody should either go in or out for any administrative purposes.
    Some african leaders are Mr Follow follow and Zombies who9 cannot stand on their two feets. it is because they were not the people that fought the whites to leave our continent.
    The current chairman of Ecowas Mr Goodluck jonathan is a new comer and have no expirience in governance. If the courts are not empowered to validate or cancel elections, why is their election pettition tribunal in Nigeria? that is the question that i want Mr Goodluck Jonathan to answer me.
    African leaders, please open your eyes very well to see beyound because the west cannever support the process by which the african continent are united and very powerful and also stronger than them the west.
    It is our forefathers that build the west and it is the african resources that was used in making the place good for living.
    They were distablized after the 2nd world war.

    Please our leaders, we do not want any betray any longer. I want the west to go and solve the problem in Tunisia if they can and also the problem between Israel and Palastine which they can’t
    They are all hypocris and one thing more, my advice to our african leaders, stop banking and investing in europ and united states. even if you want to invest, invest about 10% of your wealth there and invest 90% here in Africa, and by 2020, it is the west that will be coming to Africa and not the other way round.
    i rest my case.

  2. Tony Iz,

    That was a very eloquent statement. Some of the Africa leaders are awaking up, and now they can see the duplicities, the lies, and the double standards in real time, thanks to the Informage Age. The internet has changed everything really and now we know how the western elite work and their agenda of colonizing Africa with a remote control. Any African leader who doesn’t get it, is pure and simple a traitor to his people.