The Central Bank of Guinea and other banks have been ordered by the military junta which seized power over the weekend to freeze all government accounts.
On Sunday, a group of special forces soldiers led by Col. Mamady Doumbouya said they ousted President Alpha Conde citing concerns of “poverty and endemic corruption.”
The banking freeze was aimed at “securing state assets”, a junta spokesman announced on a national broadcaster.
“This includes public administrative and commercial establishments in all ministries and the presidency, presidential programmes and projects, members of the outgoing government as well as senior officials and administrators of state financial institutions,” the spokesman said.
A delegation of West African leaders will be in Guinea on Friday to assess the situation following the coup.
ECOWAS president, Jean-Claude Kassi Brou and Ghana’s Foreign Affairs Minister, Shirley Ayorkor Botchway, will lead the bloc’s delegation in Guinea, but the bloc provided few details.
The 15-member regional bloc on Friday suspended Guinea’s membership in ECOWAS and called for the release of President Alpha Conde.