News
World Bank Presidency: Who Wins?
With the withdrawal of Colombian ex-finance minister, Jose Antonio Ocampo, from the World Bank Presidency race last Friday, the die is now cast between Dr. Okonjo-Iweala of Nigeria and Jim Yong Kim, a Korean-American.
Kim is backed by US, Europe and Japan which control about 54 percent of the votes. From the look of things, the deal has been sealed by Europe and US with the support of Japan and Canada. But the rest of the world whose finance ministers and Central Bank governors will meet over the issue have the rest of the votes.
Brazil, India, Russia, China and South Africa are considering block votes for their own candidate, Dr Okonjo Iweala. This thinking was what probably informed the decision of Ocampo to withdraw from the race to brighten Okonjo-Iweala’s chance.
With the board of the World Bank meeting today in Washington DC, to pick a new president, Ocampo said he hoped emerging-market nations would rally behind Nigerian Finance Minister Ngozi Okonjo-Iweala in a race he said had turned highly political.
Okonjo-Iweala, a former World Bank Managing Director, is now the sole candidate from developing nations in a race against U.S. nominee Jim Yong Kim, a Korean-American health expert who appears almost certain to secure the post by block votes from US, Europe and Japan.
Ocampo, who was nominated by Brazil, said his candidacy had been “handicapped” by a lack of support from his own country. Colombia said last month it was focusing on a bid for the presidency of the International Labor Organization, where it had a greater chance of success.
If Dr Okonjo Iweala does not win, it is not because she is not the right person but because of international politics involved in the process of selecting the World Bank President which often times sacrifices merit on the altar of international political alignments.
Ocampo puts it clearly thus: “It is clear that the process is shifting from a strict merit-based competition, in which my candidacy stood on strong grounds, into a more political-oriented exercise. In this process, I stand on weaker grounds due to the lack of open support from the government of my home country, Colombia.”
Ocampo, the director of economic and political development at Columbia University in New York, said he did not believe the selection process had been conducted in a fully open, transparent and merit-based fashion, but it had established a strong precedent.
If the process is not transparent, what signal is America and Europe which claim to champion merit-based appointments in a democratic system sending to the rest of the world? What morals will the US and the rest of advanced democracy have against those they call despots in other parts of the world?
What right will America and Europe have to condemn flawed election in Africa? Will this show of naked power weaken the World Bank? Will developing and emerging economies muster courage to ask the West to take their World Bank and set up something for themselves?
However, Ocampo’s decision to leave the race does not mean all developing countries will support Okonjo-Iweala when the World Bank board tries to find a successor to Robert Zoellick, who is departing in June. Indeed, the promise of a united front from emerging markets evaporated on Friday when Russia said it would support Kim, becoming the first major emerging economy to do so.
Russia in a statement on Friday said: “Taking into account Mr. Kim’s considerable professional qualities, as well as his experience and knowledge, the Russian Federation will support the candidacy of Jim Yong Kim during the voting by the bank’s board of directors.”
Under an informal agreement, the World Bank has always been headed by an American and the International Monetary Fund by a European. Emerging-market nations have been seeking to challenge U.S. leadership at the bank to increase their influence in global economic institutions long dominated by rich nations.
While Kim is still the favourite to win the World Bank presidency due to backing from the United States and European countries, a rigorous challenge from developing countries could put them in a stronger position to extract concessions.
This challenge also increases their chances of winning senior jobs coming open in the next few months, including chief economist and head of the International Finance Corp, the World Bank’s private-sector lending arm.
Okonjo-Iweala thanked Ocampo and said his presence had helped to further a shared goal of an open selection process.
“I am proud that Dr. Ocampo and I have helped make history by changing the way World Bank presidential elections are contested,” she said in a statement.
Last week the Board of Executive Directors of the World Bank conducted interviews for the three nominated into the position. Dr. Mrs Ngozi Okonjo-Iweala was first to be interviewed, followed by Jose Antinio Ocampo and Jim Yong Kim
Yong Kim is a US national and President of Dartmouth College, New Hampshire. The Korean-born Kim, 52, according to USA Today represents a break from the financiers and bureaucrats who have run the World Bank. This, Mr. Uri Dadush, director of international economics at the Carnegie Endowment for International Peace in Washington and a former World Bank Director of economic policy says, is both strength and a weakness.
“This is a very smart man and has many of the characteristics that you would look for in a World Bank president. He is going to have a major challenge to overcome a characterisation as being too focused on the health and education agenda and to develop a deep understanding of the broader development agenda of the bank.”
Experts agree that Mr Kim lacks experience in boosting economic growth, a key part of the bank’s mission yet he is favoured to be selected today as the President of the World Bank. Dr Ngozi Okonjo-Iweala, a Nigerian national and Coordinating Minister of the Economy and Minister of Finance, 57, is a respected economist and diplomat, mother of four children. She has spent more than two decades in numerous positions at the World Bank.
Ordinarily, Dr. Okonjo-Iweala who until recently served as the Bank’s Managing Director would be expected by experience to pick up the job, but the President of the World Bank as described by Ocampo is made out of choice of convenience by the super powers.
The National Drug Law Enforcement Agency (NDLEA) has intercepted a large consignment of cocaine concealed in heads of imported dry stock fish and arrested a key member of the syndicate responsible for shipping the drugs abroad.
The agency disclosed this in a statement issued yesterday by its Director of Media and Advocacy, Femi Babafemi.
He said the arrest and seizure followed intelligence on trans-border criminal activities.
Babafemi said the intelligence led to a sting operation by operatives of the Murtala Muhammed International Airport Strategic Command of the Agency at the Ojo area of Lagos on Thursday, March 19, 2026.
“In the course of the operation, three jumbo size bags were found in possession of the kingpin 36-year-old Akputa Dickson Ejike.
“A search of the bags led to the recovery of Two Hundred and Thirty-Seven (237) wraps of cocaine buried in the heads of imported dry stock fish locally known as ‘Okporoko.’
“The cocaine pellets have a gross weight of 5.80 kilograms. The consignment was intended for export to Delhi, India,” the statement read.
In a separate operation on Wednesday, March 25, NDLEA operatives from the Directorate of Operations and General Investigation (DOGI) intercepted two consignments bound for the United Kingdom at a courier company in Lagos.
“In one of the shipments that originated from Cotonou, Benin Republic, 1.9 kilograms of methamphetamine were found concealed in automobile filters while the second parcel contains 40 ampoules of Morphine Sulphate and nine ampoules of Fentanyl,” the statement said.
Babafemi added that on March 26, a Special Operations Unit (SOU) raided the home of 46-year-old Omolade Abigail Jolayemi, known as “Iya Ghana,” at 13 Carter Street, Yaba, Lagos.
According to him, she and her associate, 31-year-old Sarah Zainab Agbabiaka, were arrested after operatives recovered 135 blocks of cannabis weighing 76.30 kilograms.
“Same day, the SOU operatives also arrested Anayo Lucky Ohabiro, 39, at Doyin bus stop, Surulere, Lagos following credible intelligence. A total of 78 blocks of Ghana Loud weighing 41kg were seized from him,” he said.
In Ekiti State, the statement added that “an 80-year-old grandpa, Oke Samuel, was on Thursday 26th March arrested by NDLEA operatives during a special raid operation at Mosafuneto camp, Erinmo road, Efon-Alaaye Ekiti. A total of 2.2kg skunk and 1.8grams of methamphetamine were recovered from him.”
Another suspect, 37-year-old Enuwa Kehinde Kingsley, had 894.72 kilograms of skunk seized from an uncompleted building in Ogbese, Akure North, Ondo State.
Elsewhere, 35-year-old Saater Nyam was apprehended at Pevi village, Guma LGA, Benue State, with 116.7 kilograms of skunk on Tuesday, March 24.
In Edo State, a warehouse raid in Ekpoma town, Esan West LGA, on Monday, March 23, led to the arrest of 25-year-old Felix Donald and the seizure of 576.5 kilograms of skunk and 33 bottles of codeine-based syrup.
In Taraba State, Babafemi said NDLEA officers intercepted a truck carrying 100 blocks of compressed skunk weighing 135 kilograms concealed in animal feed bags from Garbachede to Gombe State on Tuesday, March 24.
Two suspects, 21-year-old Osama Mamuda and 22-year-old Auwal Umar, were arrested in connection with the seizure.
Babafemi noted that the agency has also continued its War Against Drug Abuse social advocacy, conducting sensitisation lectures in schools across Cross River, Adamawa, Oyo, Kano, and Lagos states.
Chairman and Chief Executive Officer of NDLEA, Brig. Gen. Mohammed Marwa (Rtd), commended operatives from MMIA, SOU, DOGI, Ekiti, Ondo, Benue, Edo, and Taraba Commands for their efforts and praised all commands nationwide for balancing drug supply reduction with drug demand reduction initiatives.
The Christian Association of Nigeria has called on political leaders at all levels to demonstrate empathy and take urgent steps to ease the growing economic hardship facing Nigerians, as Christians mark Palm Sunday.
In a statement issued on Sunday, CAN President, Archbishop Daniel Okoh, said the significance of Palm Sunday offers timely lessons for leadership, particularly during a period marked by economic strain and global uncertainty.
Reflecting on the biblical account of Jesus’ entry into Jerusalem, Okoh noted that the moment symbolised humility, peace, and purposeful leadership rather than a display of power.
“Jesus entered Jerusalem with calm resolve at a time of uncertainty and expectation. It was not a show of force, but a message of peace, purpose, and hope,” he said.
He stressed that the country’s current socio-economic realities demand similar qualities from those in authority.
“Across Nigeria, many are feeling the weight of the times. The cost of living is rising, and for countless families, daily life is getting harder,” Okoh said.
He linked domestic economic challenges to global developments, particularly tensions involving Iran, Israel, and the United States, which he said are disrupting energy markets worldwide.
“The impact is already here. Fuel is more expensive. Transport costs are rising. Food prices are climbing,” he said, warning that such pressures are intensifying the hardship faced by ordinary citizens.
The CAN president emphasised that in times of uncertainty, the tone and actions of leaders are critical in restoring public confidence.
“For many Nigerians, the concern is simple and immediate: how to cope, how to plan, how to stay afloat. When life feels this uncertain, people need reassurance, stability, and the quiet confidence that those in positions of responsibility understand what they are going through,” he stated.
He further urged leaders to embrace a style of governance rooted in restraint, compassion, and commitment to the common good.
“True leadership is not always loud. It is seen in empathy and in decisions that ease burdens, calm anxieties, and bring people together. This is a time for such wisdom,” Okoh added.
Beyond government, CAN also called on the Church and citizens to promote unity and peace, drawing inspiration from the collective spirit associated with Palm Sunday.
“It reminds us of a moment when people from all walks of life came together with one purpose. That same spirit is needed now. We must stand for peace, strengthen unity, and support one another,” he said.
Addressing young Nigerians and those most affected by the economic downturn, Okoh encouraged resilience and hope.
“The challenges are real, but they are not the end of the story,” he said, urging citizens not to lose faith amid difficulties.
He expressed hope that the lessons of Palm Sunday would inspire renewed commitment to national cohesion and shared progress.
“As we journey through this sacred season, may the spirit of Palm Sunday guide us towards quiet courage, shared purpose, and a renewed commitment to the good of all,” the statement added.
Rivers State Governor, Sir Siminalayi Fubara, has charged the leadership of the All Progressives Congress (APC) in the South -South to be united and work together to ensure that the ruling party achieves its ultimate goal in the region.
The governor who spoke at the South South Zonal Congress in Asaba, Delta State, said working in unity and with a common purpose will enable them deliver optimally to the electoral fortunes of the party in 2027.
“We can only achieve our goal when we are united and we work together. I surely believe that this is the right time, the right people and the right place. My charge to those of you elected today is that the responsibility is going to be very tasking but I believe strongly that they will deliver for our party,” he said.
Fubara expressed confidence that the newly elected leadership of the party would be equal to the task.
He expressed profound gratitude to the Delta State Government for hosting the Zonal Delegates Congress, stressing that he believes that the best will come from the South South region.
The Congress which attracted the creme de la creme of the APC in the zone, saw the re-election of the zonal leadership through consensus. The reinstated leaders were promptly inaugurated at the ceremony.
Some of the dignitaries in attendance include the President of the Senate, Senator Godswill Akpabio, Governors Siminalayi Fubara of Rivers State, Duoye Doris of Bayelsa State, Monday Okpebholo of Edo State, Umo Eno of Akwa Ibom State, Bassey Otu of Cross River State and Sheriff Oboroevwori of Delta State.
Also in attendance were the members of the National Assembly as well as members of the State Houses of Assembly from the South South Zone.
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