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World Bank Presidency: Who Wins?

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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.

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Presidency Faults US Visa Restrictions On Nigerians, Demands Fair Treatment 

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The Presidency yesterday faulted the United States Government over its claim that Nigeria failed to reciprocate its five-year, multiple-entry visa policy.

It also dismissed reports claiming that President Bola Tinubu cancelled the issuance of five-year multiple-entry visas for United States citizens, describing such claims as “misinformation and fake news.”

The President’s Special Adviser on Information and Strategy, Bayo Onanuga, made these remarks yesterday in a statement titled ‘President Tinubu Never Stopped The 5-year Non-immigrant Visa For Us Citizens.’

He said “We want to reiterate that the US government’s claim of reciprocity as the reason for its current visa policy towards Nigeria does not accurately reflect the actual situation.”

The Presidency clarified that Nigeria continues to grant five-year non-immigrant visas to US citizens under existing bilateral agreements and reciprocal arrangements.

It also accused online sources of misrepresenting the current visa regime.

“Contrary to misinformation and fake news circulating online, President Bola Tinubu has never stopped issuing 5-year multiple-entry visas for US citizens, in accordance with the principle of subsisting bilateral agreements and reciprocity,” the statement read.

This follows recent adjustments by the United States to its non-immigrant visa policy for Nigerians.

Recently, the US government revised its visa policy for Nigerian citizens, reducing most non-immigrant and non-diplomatic visa categories—such as B-1/B-2 (tourist/business), F (student), and J (exchange)—to single-entry, three-month validity.

This marked a sharp departure from the previous two- to five-year multiple-entry visas that Nigerians were eligible to receive.

The changes took immediate effect, although existing visas issued before July 8 remain valid until their original expiration.

The U.S. Embassy in Abuja explained the decision as part of its global visa reciprocity policy, which aims to ensure that visa treatment of U.S. citizens is mirrored by the host countries.

According to the embassy, Nigeria does not currently offer U.S. citizens visa terms equal to those previously granted to Nigerians, prompting the adjustment.

The U.S. stressed that reciprocity, not retaliation, was the basis for the change.

However, the Presidency said the notion that the Tinubu administration halted the policy is incorrect.

“Immediately after assuming office, President Tinubu’s administration issued a service-wide directive that Nigeria implement all bilateral agreements with other nations and adhere to the principle of reciprocity in diplomatic relations,” the statement stated.

The presidency also addressed recent confusion surrounding Nigeria’s introduction of a 90-day e-visa, clarifying that the shorter visa validity applies only to the newly introduced digital visa-on-arrival system, and not to standard visa categories.

“The 90-day single-entry visa validity period only applies to the newly introduced e-visas, a short-term visa category for tourists and business people who may not wish to undergo the standard visa application process and wait.

“The e-visa replaces the now obsolete visa-on-arrival, which was inefficient and often used as a means of extortion,” the presidency explained.

It argued that the e-visa, which is delivered online within 48 hours, aligns with Tinubu’s broader push to boost trade, tourism, and ease of doing business in Nigeria.

However, it noted that the US has yet to reciprocate Nigeria’s e-visa policy.

“Although Nigeria has an e-visa policy for citizens of the US and several other countries, the US has not reciprocated this gesture for Nigerians,” it said.

The Presidency affirmed that Nigeria remains committed to resolving the issue through diplomacy.

It said, “In the spirit of cooperation, mutual understanding, and partnership that have characterised the relationship between Nigeria and the United States over the decades, the Tinubu-led administration will continue to dialogue and engage with US authorities to resolve any issues that have led to the recent developments.”

 

 

 

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Tinubu, Govs Forum Congratulate Okpebholo On S’Court Victory  …As Obaseki Expresses Disappointment 

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President Bola Tinubu has congratulated the Edo State Governor, Monday Okpebholo, on the affirmation of his election by the Supreme Court, yesterday.

Tinubu urged him to unify the state and accelerate the delivery of good governance.

This was contained in a statement issued yesterday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.

“President Bola Tinubu congratulates Governor Monday Okpebholo of Edo State on the affirmation of his election by the Supreme Court.

The Tide reports that the Edo State governorship election took place in September 2024, and Governor Okpebholo was declared the winner by the Independent National Electoral Commission (INEC).

The Supreme Court, as the final arbiter, upheld the election of the governor yesterday.

Following the conclusion of all legal challenges regarding the 2024 election, Tinubu called on the governor to embrace all citizens of the state, irrespective of political affiliations.

“President Tinubu encourages Governor Okpebholo to be magnanimous in victory and rally the citizens of Edo across divides towards a singular vision of advancing the state’s development,” the statement read.

With the legal battles now behind, the President advised the governor to intensify his governance agenda.

“The President advises that now that the governor has cleared the legal hurdles, it is time for him to accelerate the delivery of exceptional services and good governance to the people of Edo State, which he has already begun to do,” the statement added.

Tinubu also congratulated members of the ruling All Progressives Congress in Edo State for the legal victory.

Meanwhile, Ogun State Governor and Chairman of the Southern Governors’ Forum, Dapo Abiodun, has also hailed the Supreme Court’s affirmation of Okpebholo as Governor of Edo State, describing it as a well-earned victory.

Abiodun, who stated this in a statement issued on behalf of the forum in Abeokuta, Ogun State, yesterday, said the verdict had laid to rest any insinuation that the victory of Okpebholo, who won the September 21, 2024, governorship election with 291,667 votes, defeating his closest challenger, Asue Ighodalo, who garnered 247,655 votes, was a fluke.

He said that with the apex court’s verdict, the Edo State Governor now has the opportunity to devote full attention to actualising the agenda for which the Edo electorate gave him an overwhelming mandate, without any political distractions.

Abiodun stated, “On behalf of my brothers in the Southern Governors’ Forum (SGF), I heartily welcome the verdict of the Supreme Court today, Thursday, affirming what Edo State people and Nigerians had known all along, namely that on September 21, 2024, Edo State voters gave Governor Monday Okpebholo a mandate to pilot their affairs for the next four years.

“The verdict shows that, as announced by the Independent National Electoral Commission (INEC) and earlier validated by the Election Petitions Tribunal, the Court of Appeal, the legitimacy of Governor Okpebholo’s mandate cannot be questioned.

“No doubt, this victory is great news for democracy in Nigeria, for the people of Edo State, for our great Party the All Progressives Congress, and for good governance and the development of our dear country.

“Democracy may be imperfect but it represents the best form of government available to us as a people, and there is no doubt that this victory further consolidates and strengthens it Nigeria.

“Significantly, the victory represents the arrival of good things for the great people of Edo State and Nigeria as a whole.

“I have no doubt in my mind that the expectations of the people will be fully met by the pro-people, focused and dynamic government of my dear brother, Governor Monday Okpebholo.”

However, the ex-governor of the State, Godwin Obaseki, expressed disappointment over the Supreme Court’s judgment.

In a statement issued via X shortly after the verdict yesterday, Obaseki thanked the people of Edo State and Nigerians for their support, while insisting that the Peoples Democratic Party candidate, Dr. Asue Ighodalo, and his running mate, Osarodion Ogie, won the governorship election held on September 21, 2024.

“I am profoundly grateful to the good people of Edo State and Nigerians for their overwhelming support for the victory, which we believe our party, the Peoples Democratic Party (PDP), its candidate, Dr. Asue Ighodalo and his running mate, Osarodion Ogie, won,” Obaseki stated.

The former governor noted that the PDP pursued legal redress through all available judicial channels, beginning with the Election Petition Tribunal, then the Court of Appeal, and finally the Supreme Court, due to their conviction that the results were manipulated.

“But unfortunately, and most surprisingly, all the courts have ruled against us,” he said.

Obaseki acknowledged the binding nature of the verdict despite strong disagreement.

“Although we strongly disagree with the decision of the Supreme Court, but as adherents to the rule of law, we are bound by their verdict,” he said.

He warned, however, that the manner in which the election was conducted and judicially validated could endanger Nigeria’s democracy.

“We want to caution that the iconic manner in which the Edo election was manipulated, coupled with the judicial validation it has received, portends grave danger for Nigeria’s democracy,” he added.

The governor concluded by urging faith and perseverance.

“As people of faith, we leave our matter in God’s hands, trusting that only He knows the appropriate time and manner to deliver divine justice and redemption to our people. I encourage our people to keep hope alive as we persist in the struggle to redeem our fatherland,” he said.

The Supreme Court, yesterday, upheld the election of Okpebholo, dismissing the appeal filed by PDP’s governorship candidate, Ighodalo.

A five-member panel of the apex court, in a unanimous decision delivered by Justice Lawal Garba, ruled that the appellants failed to prove their claims of over-voting, non-compliance with the Electoral Act, and other electoral irregularities.

The court held that Ighodalo failed to substantiate his allegations, challenging results from only 395 of the 4,519 polling units and calling 19 witnesses whose testimonies failed to aid his case.

Justice Garba stated that there was no convincing evidence to overturn the decisions of the Election Petition Tribunal and the Court of Appeal, which had both affirmed Okpebholo’s victory.

 

 

 

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2027: I Stand With Southern Presidency -Ortom

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As the battle for the 2027 presidency gets underway, the immediate past governor of Benue State, Samuel Ortom, has kicked against a Northern presidency.

The former governor reaffirmed his support for the retention of Nigeria’s presidency in the South in 2027.

Ortom who made this known at a media interaction in Makurdi, the state capital, yesterday, insisted that the region must be allowed to complete its eight-year term before power returns to the North.

He said, “Till today, I, Ortom, believe in southern presidency, even if my party (PDP) is producing a candidate for presidency in 2027, the candidate must be from the South. South should be allowed to complete eight years.

“So, for me, I am not supporting a northern candidate.”

Ortom, a chieftain of the Peoples Democratic Party and member of its Board of Trustees, also commended President Bola Tinubu for some of the economic reforms initiated under his administration.

“Tinubu administration is doing well; he is ensuring that the rule of law prevails, and this is good for our country.

“The oil industry had been a place where a few cliques siphoned our common wealth, but with the removal of subsidies, there is a lot of money in all the states.

“The president even stated this during his visit to Benue at the height of the killing of our people in Yelwata, where he said that no state would say it doesn’t have money to pay salaries.”

Ortom also lauded the ongoing tax reforms, describing them as steps in the right direction for economic growth.

However, Ortom criticised the administration of former President Muhammadu Buhari, saying Buhari’s administration took the country from “top to bottom.”

Ortom said he is not part of the newly formed coalition.

He added, “I remain a member and leader of Peoples Democratic Party; I am even a board member of my party and I don’t believe in coalition but where there’s need for strategic partnership, you will see me there.”

 

 

 

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