"Nigeria’s Finance Minister, Ngozi Okonjo-Iweala could be the next female President of the world bank. The Wall Street Journal is reporting that several countries will nominate her for the position. The role of the President of the World Bank has traditionally gone to an American.

This is a big endorsement for Nigeria which despite endemic corruption is forging ahead with being one of the top 20 economies in the world this decade.

Nigeria is one of the biggest supplier of light sweet oil favored by American refineries.

Lagos is like the New York of Africa, energy, entrepreneurship is overwhelming there. " ...CNN Reporter Erin Burnett.


May the ungrateful, unappreciative, and the unpatriotic among us voluntarily go and hug a transformer. Nigeria is headed for greatness once again.

---

TO KEEP NIGERIA ONE IS A TASK THAT MUST BE DONE

^^ I feel tempted to add; 'thanks to the South', but come on, I'm a Unionist!

She is never gonna become president of the world bank. Better an America than some random over-hyped heavily accented Ibo woman.


Over my dead body

strangerf:
Over my dead body

I dont wish u dead but just in case u decide to do humanity the favour, I hope u writhe, twist and roast like a heavily salted earthworm while u're at it.

if they nominate here that is good

wesley80:

I do wish myself dead but just in case I decide to do humanity the favour, I hope I writhe, twist and roast like a heavily salted earthworm while I'm at it.

Fixed

Im suspecting Oby Ekwesili and Okonjo Iweala already worked this thing out along with GEJ. She may have stepped down to take up Iweala's position while Iweala prepares to go and seat for World Bank president. It's a win-win situation for nigeria if this is the case.

Because of women like Auntie Ngozi, Oby Ezekwesiri, and Arunma Oteh, I have vowed to train any of my female relations who is interested to any levels of education, provided they are FIRST CLASS students.
These are Nigeria's best of the best.
We are proud of them.

Mr Onlytruth, how are you sir? I need to talk to you about something important and sent you friend request so that
I can mail you when you accept that.

Ivynwa: Mr Onlytruth, how are you sir? I need to talk to you about something important and sent you friend request so that
I can mail you when you accept that.

You can contact me at ezendigbo_nl@hushmail.com
Later sis.

Happy for Madam Ngozi,
You go girl!


@Onlytruth
Okay. Friend request retrieved. Will discuss before or around weekend.
Talk to you later.

More than half of the world bank is funded by America so he who pays the piper plays the tune. An American will probably win the Presidency.

I doubt she's going to get it - Brazil and China wanted the same thing for IMF, but French Hermaphrodite a la Lagarde got it. Stop day dreaming - he who pays the piper calls the tune. America is the largest contributor to the World bank - World bank is to America, what IMF is to western Europe.

^^^ Dont mind these ediots acting as if Iweala is the first Nigerian to ever work at a high profile DC institution.

Yes, I like the idea that a Nigerian is being considered and if Ngozi gets it, great! However, when will the useless Nigerian president do anything to make this country great? What achievements has he now to his name or it is still his big black hat? When will there be light? 200 cars taken away from his home state of Bayelsa by Sylva's aides 'cos they know he can do nadda! BH taking him as a joke and don't even notice that Nigeria has a president! When will Naija make progress??

Na for hia we go see una mouths. If na 'Chimezie' for Malaysia now. . . una go run go Abijan!

I wish her well. At least she does not have a 'Toronto' degree with her 'Toronto'!

@ op and any other person in the house. I will like to know the benefits Nigeria will get when Ngozi becomes the world bank president and what impact it will have on the life of an average Nigerian.

what impact it will have on the life of an average Nigerian

Gbam! Gbam! SUPER!!!
The debt wey she say she hellep Nigeria 'reduce' abi na 're-negotiate'. . . she come back come chop am!

(Financial Times) -- The US is under intense pressure to nominate a top-notch candidate for the World Bank presidency after developing countries put forward two credible contenders of their own.

Ngozi Okonjo-Iweala, the Nigerian finance minister, and José Antonio Ocampo, the former finance minister of Colombia, will be nominated as candidates for the presidency before the deadline on Friday.

Since its creation in 1944, the president of the World Bank has always been an American, but developing countries are pressing for a merit-based competition. The US will lose legitimacy if it foists a low-calibre leader on the institution when there are well-qualified candidates from developing countries.

"The candidacies are more than symbolic," Mr Ocampo told the Financial Times. "They are a testament that developing countries can put up good and credible candidates -- perhaps as good or better than the US candidates."

The US is expected to put forward a candidate before Friday's deadline. Leading options are Lawrence Summers, the former Treasury secretary who has a heavyweight economic reputation but some opponents in the US and abroad, and Susan Rice, the US ambassador to the UN. Jeffrey Sachs, director of the Earth Institute at Columbia University, has been nominated by some smaller developing countries.

In contrast to the recent battle to lead the International Monetary Fund, which was never in real doubt as French finance minister Christine Lagarde raced around the world to secure support, developing countries are organised to challenge a procession to the World Bank presidency.
World Bank shields emerging markets

"We as emerging markets and developing countries have been making a concerted effort to identify our most qualified and competent candidates," said Amar Bhattacharya, director of the G24 office in Washington. The G24 is an economic umbrella group for the largest developing countries, and the Brics group of Brazil, Russia, India and China has also been active in debating candidates.

Ms Okonjo-Iweala is a former World Bank managing director now serving her second term as Nigeria's finance minister. "What is significant is that while she was put forward, she did not seek the nomination herself," said a Nigerian government source. "But there is so much enthusiasm for her to head the World Bank. It's a campaign by emerging market countries." South Africa and several other African countries are backing Ms Okonjo-Iweala.

Arvind Subramanian, senior fellow at the Peterson Institute for International Economics in Washington, said that Ms Okonjo-Iweala was one of his top candidates for the job. "She has a lot of hands-on development experience with the big issues of governance and corruption," he said.

Another emerging market candidate could appear before Friday. The big test, however, will be whether all the developing countries can coalesce around a single contender once the US has put forward a name.

"All the other major international institutions have open competitions. The UN does, so does the WTO, the OECD. The IMF and the World Bank are very anomalous in that regard," said Mr Ocampo. "We have joined this race in the expectation that this time it would be different."

If there are four or more candidates after nominations close then the World Bank's executive board will winnow down the choice to a shortlist of three for interview. The executive board is made up of 25 directors who represent constituencies of countries around the world.

Actual voting power is related to capital paid into the Bank. Between them, the US and Europe control around half of the votes on the World Bank's board of directors.

Source : http://edition.cnn.com/2012/03/21/business/u-s-under-pressure/index.html

she is not de only one ooo
dis finance guy from columbia is also eligible. hopin naija wil get de position.its gonna make sense

Won't be a bad one.

(Reuters) - Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo are set to be nominated to lead the World Bank, sources with knowledge of emerging market efforts to find candidates said on Tuesday.

The candidacies of Okonjo-Iweala and Ocampo, who have credentials as both economists and diplomats and according to sources the respective backing of Brazil and South Africa, pose a challenge to the United States, whose hold on the top post has never been contested.

But with its majority of votes and the expected support of European countries, the United States is still likely to ensure that another American will succeed Robert Zoellick, who plans to step down when his term expires at the end of June.

Washington has held the presidency since the Bank's founding after World War Two, while a European has always led the International Monetary Fund. It has yet to publicly identify a nominee to succeed Zoellick.

The deadline for submitting nominations is Friday, and the Obama administration has said it will name a candidate by then.

All of the World Bank's 187 members nations have committed to a merit-based process to select Zoellick's successor.

Emerging and developing economies have long talked up their desire to break U.S. and European dominance of the Bretton Woods Institutions, but have until now have failed to build a coalition large enough to change the status quo.

Three sources said Ocampo, currently a professor at Columbia University in New York, would be formally nominated by Brazil.

One source said Okonjo-Iweala could be nominated on Wednesday, while two other sources said it would be Friday.

Nominations will be submitted to the 25-member World Bank board, which has said it will decide on the next president within the next month.

Two sources said Okonjo-Iweala's candidacy had the blessing of Nigerian President Goodluck Jonathan, who convinced her to join his cabinet last year to lend more weight to his reform agenda.

"IMPRESSIVE CREDENTIALS"

The decision to nominate Okonjo-Iweala and Ocampo followed weeks of discussions among emerging and developing countries at the World Bank board including China and India.

Two sources said South Africa's director at the World Bank board, Renosi Mokate, who also represents Nigeria and other English-speaking African countries, personally flew to Abuja to consult with Okonjo-Iweala about her nomination.

"The impressive credentials of both Ocampo and Okonjo-Iweala puts tremendous pressure on the White House to come up with a candidate of at least equivalent standing," said Domenico Lombardi, a former World Bank board official now at the Brookings Institution in Washington.

"This signals a big shift and really reflects a game change," Lombardi added. "This is the first time in history we have a truly contested election."

Okonjo-Iweala, who left the World Bank as managing director last year to become Nigeria's finance minister, and Ocampo, a former U.N. under-secretary for economic and social affairs, will join American economist Jeffrey Sachs, who has the backing of a handful of small countries, on the nomination list.

Sources with knowledge of the administration's thinking say Washington has focused on convincing a woman to enter the race, which could go some way to address calls by emerging market nations for change. A woman has never led the bank.

Susan Rice, the U.S. ambassador to the United Nations, was a leading contender, however, it is not clear she wants the job, sources have said. Former adviser to President Barack Obama, Lawrence Summers, has also been short-listed for the job. He has declined to comment.

U.S. Senator John Kerry and PepsiCo's Indian-born CEO Indra Nooyi also made an Obama administration shortlist, according to a source, although Kerry has publicly ruled out the job and Nooyi is no longer in contention, according to another source.

Sachs has said he aims to challenge with his candidacy what he sees as a history of political appointments by the White House and acknowledges he does not have the support of the Obama administration. He was formally nominated by Bhutan and a grouping of developing countries including East Timor, Jordan, Kenya, Namibia and Malaysia.

Lombardi said the test was whether large emerging economies like China would rally support for Ocampo and Okonjo-Iweala, or in the end vote for a U.S. nominee.

FAILED RALLY AT IMF

Last year, Brazil and China failed to rally around Mexico's central bank chief, Agustin Carstens, for the top post at the IMF, instead favoring former French Finance Minister Christine Lagarde, who now heads the institution.

The United States has insisted that to keep funding flowing from Congress for the World Bank, it is important to retain the presidency.

It is unclear if big emerging nations such as China and India would support a fellow developing nation candidate.

He Fan, deputy director of the institute of world economics and politics at the Chinese Academy of Social Sciences, a top government think-tank, said he thought Beijing would do so.

But Yi Xianrong, an economist at the same institute, said "the most important thing is to have a capable person with energy and expertise...it doesn't matter whether the candidate is from the United States, Germany or developing countries."

"We need to see whether the candidates' value standards and judgment are in line with the World Bank's goals. We can increase our influence in the World Bank through increases in our voting rights," Yi added.

A senior Indian government source said it didn't "have any favorites, no probables."

With just two days left, India is not planning to change that position. Asked whether India would support a developing world candidate, the source said, "If it comes up we will decide; let's see."

(Additional reporting by Kevin Yao in Beijing and Frank Jack Daniel in New Delhi; Editing by Richard Borsuk and Jonathan Hopfner)

Source : http://www.reuters.com/article/2012/03/21/us-worldbank-idUSBRE82K04620120321?feedType=RSS&feedName=topNews&rpc=71

How is gonna beta our economy

alfablondy: op and any other person in the house. I will like to know the benefits Nigeria will get when Ngozi becomes the world bank president and what impact it will have on the life of an average Nigerian.

Why can't we just be happy for her

Who's in the running?

Ngozi Okonjo-Iweala: Nigerian finance minister for the second time, and the developing country candidate to beat. As a former World Bank managing director, she knows the institution inside out. She has also been on the front line of tackling poverty and corruption at home, and fought for debt relief from the West.

José Antonio Ocampo: a former Colombian finance minister who studied and is based at Columbia University, in the US. He is a heavyweight academic economist who has had first-hand experience in government in a developing country, and held a senior UN post. He has won Brazil's backing.

Hillary Clinton: still widely rumoured to be the most likely US candidate. But she has repeatedly said she doesn't want the job and her hardline attitude to human rights abuses in her current job as secretary of state is said to have made the Chinese sceptical about her candidacy.

Jeffrey Sachs:/ US economist and author, now at Columbia University, says he has the support of several developing countries, many of which he has advised over the years. He too is controversial because of questions over his role in Russia's "shock therapy" economic reforms in the 1980s. He's also seen as too liberal to win the backing of the White House[b].

Susan Rice[/b]: US ambassador to the United Nations. She is used to charming her way through international diplomatic circles – a key part of the job of a World Bank boss – but she may not be well-known enough to trump Iweala and allow America to hold onto its supremacy at the Bank

Ngozi Okonjo-Iweala: Nigerian finance minister for the second time, and the developing country candidate to beat. As a former World Bank managing director, she knows the institution inside out. She has also been on the front line of tackling poverty and corruption at home, and fought for debt relief from the West.

José Antonio Ocampo: a former Colombian finance minister who studied and is based at Columbia University, in the US. He is a heavyweight academic economist who has had first-hand experience in government in a developing country, and held a senior UN post. He has won Brazil's backing.

Then it is btw these 2.

^^^

Looking forward to seeing Obama nominate none the two then.


TBH, Blazay, this is way over your head, confused souls in the Family section are waiting for your thoughtful advice(s). Leave politics for e-intellectuals like me.

strangerf: She is never gonna become president of the world bank. Better an America than some random over-hyped heavily accented Ibo woman.


Over my dead body

If she meets the criteria, i'm sure that position would be given to her. Over your dead body??

Dipwater: How is gonna beta our economy

Left to me, if I'd be given an opportunity to vote, I will surely vote against her. Looking at her role for the past years most esp during subsidy protest, it shown that she's filled with selfishness, deceitful tongue and egocentric ideas, already she has failed Nigerians and I believe if she becomes WB president, she will not only manipulate us with deceitive tongue but will surely end up selling Nigeria as a whole. Only gullible Nigerians most esp blind people from her tribe will support her or probably those who stand to gain through her


Gbammm over and out

collinsfbi:

Left to me, if I'd be given an opportunity to vote, I will surely vote against her. Looking at her role for the past years most esp during subsidy protest, it shown that she's filled with selfishness, deceitful tongue and egocentric ideas, already she has failed Nigerians and I believe if she becomes WB president, she will not only manipulate us with deceitive tongue but will surely end up selling Nigeria as a whole. Only gullible Nigerians most esp blind people from her tribe will support her or probably those who stand to gain through her


Gbammm over and out

Seconded!

This is more of d case of a prophetess being without honour in her homeland, we can now see that good things can still come out of this country.If developing countries can rally round our finance minister even when she did not vie for it then she is good indeed. Whether she will eventually be crowned is a different ball game.

This is more of d case of a prophetess being without honour in her homeland, we can now see that good things can still come out of this country.If developing countries can rally round our finance minister for such an exalted office even when she did not vie for it then she is good indeed. Whether she will eventually be crowned is a different ball game.