unrest in the south-west, with banks and businesses shutting down. Babangida was pressured by the Defence Council to stick to the handover date, and he therefore resigned on 26 August. The country was ruled by an Interim National Government headed by Ernest Shonekan, with Sani Abacha, a confidant of Babangida, serving as Defence Minister. Shonekan set a date for another election in February 1994. However, his position was tenuous. He was named head of the government, but there was ambiguity on whether he also had command of the armed forces as its commander-in-chief. In early November 1993, a Lagos High Court ruled that the decree establishing the interim government was not properly signed – it was signed by Babaginda after his removal from the presidency, thus making the government illegal. The interim government had to contend with a failing economy, with debt and inflation rising and the currency weakened. Nigeria was ranked by the World Bank as among the 20 poorest in the world. To revive the economy, Shonekan resumed talks with the IMF and World Bank and the took the unpopular decision to remove subsidies on petroleum products, thereby raising the price by 700%. The Nigerian Labour Congress went on strike over the price increase. However, on 17 November 1993, Abacha toppled the interim government in a palace coup. Abacha dissolved the legislature, as well as the state and local governments, and replaced the elected civilian state governors with military and police officers. He also banned all political activities. Abacha established two governing institutions - the Provisional Ruling Council (PRC) and Federal Executive Council. Abacha's new cabinet was composed of civilian politicians, including Abiola's running mate Baba Gana Kingibe as Foreign Minister. Abacha proceeded to create a Constitutional Conference for a transition to civilian rule. The conference began on 18 January 1994, though one-third of the delegates for the conference were nominated by the government, and the PRC could veto decisions of the conference. Abiola was arrested and charged with treason in June 1994 after he declared himself president and commander-in-chief. Abiola's arrest led to protests and strikes by workers in the petroleum sector, banking sector and academia for nine weeks. The strike by the petroleum sector paralyzed the economy. The Abacha government subsequently arrested union leaders and dismissed civilian members of his cabinet. The government in March 1995 announced an alleged coup attempt. Olusegun Obasanjo, Shehu Musa Yar'Adua