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Ex-Minister Of Finance, Zainab Ahmed Lands World Bank Job

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The immediate past Minister of Finance, Mrs. Zainab Ahmed has landed a World Bank job as an Alternate Executive Director.

Baring hitches, she will resume at the bank’s headquarters in Washington on July 10.

However, there appears to be pushback from some interests who alleged that the former minister did not follow due process.

An online medium, today, quoted Washington sources as saying that Mrs. Ahmed circumvented appointment procedures by nominating herself .

The report also had it that the World Bank had requested for the nominations of three economists for an AED position, several months before the end of the President Muhammadu Buhari administration, but that the minister kept the letter to herself.

It was also alleged that the minister neither obtained President Buhari’s approval of her self-nomination nor the approval of the new President, Sen. Bola Tinubu.

However, a highly placed federal government source who is familiar with the World Bank system told Vanguard that Mrs. Ahmed did nothing wrong in the appointment.

According to the source, “It’s impossible (for her to nominate herself). And she didn’t. She was validly nominated by the Ministry (of Finance) and President Buhari approved her nomination before he left.

“This type of nomination is routine as a former DG Budget was nominated at the twilight of the Jonathan administration and nobody made any noise about it. It’s truly unfair.

“The former DG Budget was nominated as Executive Director, African Development Bank.”

The source explained that the AED position is usually occupied by former Ministers of Finance (Governors of World Bank) or Permanent Secretaries in the Federal Ministries of Finance (Alternative Governor of World Bank).

He said, “Also, please note that the ED from South Africa was a former South African Minister. The position is meant for either former Minister of Finance ( Governor World Bank) or Permanent Secretary Finance( Alternate Governor World Bank) ,i.e. those familiar with the development policy issues and transfer of real resources to developing countries.

“And those who understand World Bank Executive Board issues and have helped in shaping World Bank decision making from the viewpoint of Authorities/member countries in recent times.

“It’s not a position for theoretical Economists who have not had any dealings with the Ministry of Finance in Sovereign member countries.”

Mrs. Ahmed is expected to work under Ayanda Dlondlo, a former South African Minister who is the Executive Director.

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Nigeria needs over $2bn to revive Ajaokuta Steel Plant, says Minister

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Minister of Steel Development, Shuaibu Abubakar-Audu says funding is the greatest challenge in efforts to revive the moribund Ajaokuta Steel Plant as Nigeria needs an excess of $2 billion to invest in it.

The Minister made this known in Ilorin, the Kwara State capital during his official visit to Governor Abdulrahman Abdulrazaq and other indigenous steel sector stakeholders in the state.

He noted that the current administration of President Bola Tinubu is working to grow the economy of the country by $1 trillion which involves supporting indigenous key players in the steel sector to industrialise Nigeria.

Abubakar-Audu also maintained that there is an ongoing discussion to have an industrial park at the Ajaokuta Steel Mill to attract key players in the sector. He explained that his Ministry is engaging key industry players across the country with a view to turning around the economy.

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Tinubu resumes work after foreign trip

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President Bola Tinubu has officially resumed work at the Villa, a day after returning from his trip abroad.

The President walked from his residence to his office accompanied by his security aides, his Chief of Staff Femi Gbajabiamila; the National Security Adviser, Nuhu Ribadu, and other aides.

President Tinubu traveled to the Netherlands on the 23rd of April at the invitation of the Dutch Prime Minister Mark Rutte. While in the Netherlands, he also met with the Nigerian-Dutch business community.

He proceeded to Riyadh, Saudi Arabia for the World Economic Forum (WEF) where he engaged global leaders with the view to winning more investors in Nigeria.

After the meeting in Saudi Arabia, President Tinubu was said to have proceeded to Europe on a private visit.

He returned to the country on Wednesday, after over two weeks of being away.

The governors of Kaduna and Plateau states, Uba Sani and Caleb Mutfwang paid a visit to the President on Thursday.

The reason for their visits could not be ascertained at the time of filing the report.

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