In a move today that signaled US discomfort with Nigeria's finance minister Ngozi Okonjo-Iweala, President Barack Obama nominated Darthmouth College President Jim Yong Kim as a candidate for the presidency of the World Bank.

Over the last week several African and South American countries, including Brazil had indicated their support for Mrs. Iweala to become the next president of the bank, however, President Obama's decision to nominate a different candidate represents almost certain doom for the Nigerian minister's candidacy.

The US has traditionally exercised immense power over candidates for the presidency of the World Bank.

Earlier today the Nigerian government as well as those of Angola and South Africa issued statement disclosing that they would meet to today to discuss their support for Mrs. Iweala for the World Bank presidency in Johanesburg.
A human rights activist in Abuja said Obama's rejection of Iweala would be good riddance. He said he half-wished that Mrs. Iweala would depart the Nigerian government for the World Bank job.

"She has failed to be an advocate for ordinary Nigerians and did little or nothing to push the Jonathan regime to cut governmental waste and to combat corruption."

Courtesy SAHARA REPORTERS

*Bukola Sittu, Abuja with reports from Reuters

"The president was looking for a candidate who could command broad support across the world," Geithner told Reuters in an interview released on Saturday. "That's very important, because we don't make this decision alone."

"Dr. Kim's mix of skills will be particularly compelling to the bank at this time and I think the world will be very impressed with him”

These were the words of the Secretary of the United States Secretary, Timothy Geithner, giving insight into why President Barack Obama did not hesitate to back his choice, Jim Yong Kim last Friday for the World Bank’s topmost position.

Nigeria’s Ngozi Okonjo-Iweala is bidding for the job as candidate of the African economies.

But the support appears tilted in favour of Kim, an health expert, against the Nigerian and the former Columbia former Finance Minister, Jose Antonio Ocampo.

Reuters reports on Sunday that it would be hard for the US to release its hold on the Bank reporting the US Treasury Secretary as adding “Geithner said it was not a surprise that candidates from other countries had been nominated after a 2009 agreement by leaders of the Group of 20 nations for an open and transparent process to select leaders of the two institutions.

"We expected that to happen and think it is healthy for the institution as a whole," Geithner said. "But I can tell you from my conversations with developing and developed countries, I am confident he (Kim) will win broad support."

U.S. officials have acknowledged that giving up the World Bank presidency would make it difficult for the White House to obtain funding from Congress for the global lender, especially with lawmakers worried about mounting budget deficits.”

What contributions has Dr.Okonjo-Iweala made to reduce the grinding level of poverty in Nigeria that she wants to go and head the World Bank? All she did was to recommend that fuel price be increased, an action that single handedly contributed to an increase in the poverty rate in her country. For your information the world Bank is a premier Institution that formulates policies to fight poverty, not to increase it. I mean no offence. just some analysis...