In a recent development, Mrs. Zainab Ahmed, the former Minister
of Finance, has secured a prestigious
job as an Alternate Executive Director at
the World Bank. However, the news has been met with some controversy as certain
interests claim that she bypassed the proper procedures to obtain the position.
According to reports from an online medium, sources in
Washington alleged that Mrs. Ahmed nominated herself for the role without
following the necessary appointment procedures. It was further revealed that
the World Bank had earlier requested nominations for three economists to fill
the Alternate Executive Director position months before the end of President
Muhammadu Buhari’s administration. However, Mrs. Ahmed purportedly withheld the
letter and did not seek approval from President Buhari or the new President,
Sen. Bola Tinubu.
Nonetheless, a highly placed federal government source,
well-versed in the World Bank system, stated that Mrs. Ahmed’s appointment was
entirely justified. The source clarified that she did not nominate herself but
was validly nominated by the Ministry of Finance. Furthermore, President Buhari
had approved her nomination before leaving office.
The source also highlighted a similar appointment made during
the Jonathan administration when a former Director-General of Budget was nominated
as an Executive Director for the African Development Bank. This appointment
received no significant criticism or opposition at the time. Therefore, the
source argued that the current controversy surrounding Mrs. Ahmed’s appointment
is unfair.
Providing additional context, the source explained that the
role of an Alternate Executive Director is traditionally filled by former
Ministers of Finance (Governors of the World Bank) or Permanent Secretaries in
the Federal Ministries of Finance (Alternative Governors of the World Bank).
These individuals possess a deep understanding of development policy issues and
the transfer of resources to developing countries. They also contribute to
shaping World Bank decision-making based on the perspectives of member countries.
To exemplify this practice, the source mentioned that the
current Executive Director from South Africa is a former South African
Minister. Hence, the position is typically reserved for individuals who have
experience working in finance ministries of sovereign member countries, rather
than purely theoretical economists.
In her new role, Mrs. Ahmed is expected to work alongside
Ayanda Dlondlo, a former South African Minister, who serves as the Executive
Director at the World Bank. Assuming there are no unforeseen complications,
Mrs. Ahmed is scheduled to commence her duties at the World Bank’s headquarters
in Washington on July 10.
