Gbagbo orders bank assets seizure

The announcement came amid negotiations by African leader, led by Malawi’s president (left), to end the crisis

Ivory Coast’s incumbent leader Laurent Gbagbo has ordered the seizure of all local branches of the Central Bank of West African States (BCEAO).

The BBC’s John James in Abidjan says gendarmes and armoured vehicles have surrounded the bank’s HQ in the city.

The bank has recognised Mr Gbagbo’s rival Alassane Ouattara as president after disputed polls in November.

Over the weekend the bank’s governor, an ally of Mr Gbagbo, was forced to resign by West African leaders.

Our reporter said this effectively gave control of state accounts to Mr Ouattara, who has ordered that all branches be shut.

Ivory Coast is part of the eight-country West African CFA monetary zone, with a single central bank based in Dakar, Senegal, but with national headquarters in each country.

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