The National Committee for Redressment of Democracy and Restoration of the State (CNRDR) announced on Thursday morning through Mali's state owned television that it had overthrown President Amadou Toumani Toure from power.

The announcement was made on Mali's national radio and television offices at 4:40 a.m.local time by the committee's spokesman Lieutenant Amadou Konare.

Following the overthrow of the government, Konare said the country's Constitution had been suspended and that all republican institutions had been dissolved.

He announced that an inclusive government of national unity will be formed to organize elections as soon as possible.

The CNRDR spokesman said they decided to take over power because of a number of complaints they had against Toumani Toure.

Their grievances include the inability by the government to provide adequate means to the armed forces to fight the rebels in the north, the threats on national unity; the uncertainty over the organization of the 2012 general elections; and the inability of the government to effectively fight against terrorism.

"This is what led the mutineering soldiers to take up arms on behalf of the rest of the armed forces to end Amadou Toure's incompetent regime," the CNRDR spokesman said.

The CNRDR also imposed a curfew at 6:00 a.m. local time Thursday until further notice.

According to the spokesman, a government of national unity will be put in place in the next few days after wide consultations with all stakeholders in the West African country.

The soldiers taking over power insisted that they did not have any intention of "confiscating it," vowing to hand it back to the civilians after holding free and fair elections.

The statement was signed by a certain "Captain Sanogo" on whom no information has been given until now.

Meanwhile, gunshots can still be heard at this hour in the capital Bamako.