Former Finance Minister, Zainab Ahmed Bags Top Position In World Bank

Former Nigerian Minister of Finance, Mrs Zainab Ahmed, is set to resume as an Alternate Executive Director (AED) at the World Bank.Ahmed, who served in the administration of former President Muhammadu Buhari, will resume at the bank’s headquarters in Washington on July 10.However, an online medium quoted Washington sources, who alleged that the former minister did not follow due process, saying that Ahmed circumvented appointment procedures by nominating herself.According to the report, the World Bank had requested the nomination of three economists for an AED position, several months before the end of the President Buhari administration, but the minister kept the letter to herself. The minister neither obtained Buhari’s approval of her self-nomination nor the approval of the new President, Bola Tinubu.Speaking to Vanguard, a highly placed federal government source who is familiar with the World Bank system disclosed that Ahmed did nothing wrong in the appointment.The source said, “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.”He explained that the AED position is usually occupied by former Ministers of Finance (Governors of the World Bank) or Permanent Secretaries in the Federal Ministries of Finance (Alternative Governor of the World Bank).The source said, “Also, please note that the ED from South Africa was a former South African Minister. The position is meant for either a former Minister of Finance (Governor World Bank) or Permanent Secretary of 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.”