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US Backs Okonjo-Iweala To Break 26-Year WTO Record

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The United States has finally backed a former Minister of Finance, Dr Ngozi Okonjo-Iweala, to lead the World Trade Organisation after several months of delay of the selection process.

President Joe Biden’s administration on Friday offered its “strong support” to Okonjo-Iweala, citing her “wealth of knowledge in economics and international diplomacy from her 25 years with the World Bank and two terms as Nigerian Finance Minister.”

The move marks another sharp split with former President Donald Trump who paralyzed the organization and opposed Okonjo-Iweala who was backed by many other countries.

The development came after Okonjo-Iweala’s only remaining contender and South Korea’s Trade Minister, Yoo Myung-hee, on Friday withdrew her candidacy for the position.

The US’ decision to back Okonjo-Iweala was contained in a statement on Friday on the website of the US Trade Representative titled, ‘Office of the United States Trade Representative Statement on the Director-General of the World Trade Organisation.’

The statement read, “The United States takes note of today’s decision by the Republic of Korea’s Trade Minister Yoo Myung-hee to withdraw her candidacy for Director-General of the World Trade Organisation (WTO).

“The Biden-Harris Administration is pleased to express its strong support for the candidacy of Dr Ngozi Okonjo-Iweala as the next Director-General of the WTO. Dr. Okonjo-Iweala brings a wealth of knowledge in economics and international diplomacy from her 25 years with the World Bank and two terms as Nigerian Finance Minister.

“She is widely respected for her effective leadership and has proven experience managing a large international organization with a diverse membership. It is particularly important to underscore that two highly qualified women made it to the final round of consideration for the position of WTO Director-General – the first time that any woman has made it to this stage in the history of the institution.”

The US said it stood ready to engage in the next phase of the WTO process for reaching a consensus decision on the WTO Director-General, adding, “the Biden-Harris administration looks forward to working with a new WTO Director-General to find paths forward to achieve necessary substantive and procedural reform of the WTO.”

Reacting, Okonjo-Iweala has expressed her appreciation to the US for supporting her for the job.

In a tweet on Friday, she said, “Grateful for the expression of support from the US today for DG @WTO. Congratulations to Madam Yoo of [the Republic of] Korea for a hard-fought campaign. Thank you, President Muhammadu Buhari @MBuhari & all Nigerians for your unflinching support. Thank you, friends. Love to my family. Glory to God.”

By this development, Okonjo-Iweala will become the first woman and African to head the WTO since its establishment 26 years ago.

The World Trade Organisation had in October 2020 announced Okonjo-Iweala and Myung-hee as the remaining two out of an initial eight contenders for the job, with either of the two succeeding Roberto Azevêdo, who resigned from the job in August 2020.

Okonjo-Iweala had already enjoyed broad support from WTO members like the European Union, China, Japan, and Australia.

However, the United States, under the former administration of President Donald Trump, had favoured Myung-hee.

This had stopped the decision-making process of the WTO since the selection of a new leader requires all members to agree.

According to CNN, Myung-hee said in a televised briefing on Friday that her decision to withdraw her candidacy was reached after “close consultation” with the US.

The Geneva, Switzerland-based WTO, whose job is to promote international trade among nations, has had six directors-general since its founding, all of them male.

All along the selection process which started mid last year, the 66-year-old former finance minister had said she remained positive of becoming the first African and first female director-general in the 26-year history of the WTO despite “hiccups.”

Okonjo-Iweala serves on Twitter’s board of directors, as chair of the GAVI vaccine alliance as well as a special envoy for the World Health Organisation’s COVID-19 fight.

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Yahaya Bello: EFCC Confirms Refund Of $760,000 From American International School Abuja

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The American International School in Abuja has reimbursed the Economic and Financial Crimes Commission (EFCC) for the amount of $760,910 that it was previously paid by former Kogi State Governor Yahaya Bello for his children’s advanced school fees.

Dele Oyewale, the EFCC spokesperson, verified this on Saturday.

The school requested the anti-graft agency’s “authentic banking details” in a letter dated October 24, 2022, in order to pay the reimbursement “as part of investigation into the alleged money laundering activities by the Bello family.”

The sum of $845,852 was said to be paid to the school between September 2021 and October 2022. The school said it deducted the educational services rendered between the period, with the remaining amount being $760,910.

The EFCC is prosecuting Bello on 19 counts bordering on alleged money laundering, breach of trust, and misappropriation of funds to the tune of N80.2 billion. The matter is before Justice Emeka Nwite of the Federal High Court in Abuja.

EFCC chief Ola Olukoyede, who vowed to prosecute Bello or resign, alleged that the embattled ex-governor withdrew $720,000 from the state’s accounts to pay his child’s school fees in advance just before he left office on January 27, 2024.

The anti-graft commission had declared Bello wanted after his successor, Governor Usman Ododo allegedly whisked him away on April 17, 2024, preventing EFCC operatives to arrest him (Bello) when they laid siege to his Abuja residence.

Meanwhile, a Kogi State High Court sitting in Lokoja has ordered EFCC chairman to appear in court on May 13, 2024, to show cause why an order of committal should not be made against him for allegedly disobeying court order.

The EFCC boss is facing a contempt charge for carrying out “some acts upon which they (the EFCC) have been restrained” by the Court on February 9, 2024, pending the determination of the substantive Originating Motion.

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Yahaya Bello: Kogi Court Summons EFCC Chairman Olukoyede Over Alleged Contempt

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Ola Olukoyede, the chairman of the Economic and Financial Crimes Commission (EFCC), has been directed by a Kogi State High Court in Lokoja to appear in court on May 13, 2024, to provide justification for not having an order of committal placed against him for allegedly defying a court order.

A contempt charge has been brought against the EFCC chairman for executing “some acts upon which they (the EFCC) have been restrained” by the Court on February 9, 2024, while the Originating Motion’s merits are being determined.

Justice I. A. Jamil, delivering a ruling in Suit No: HCL/68M/2024 and Motion No: HCL/190M/2024, ordered that “the said act was carried out by the Respondent (EFCC) in violation of the order, which was valid and subsisting when they carried out the act. That same act of the Respondent amounts to Contempt.

EFCC operatives had laid siege on the residence of the immediate past Governor of Kogi State, Alhaji Yahaya Bello, as early as 8 am on April 17, 2024, with a bid to arrest him, despite a court order restraining them from taking such action, pending the determination of the Originating Motion.

Justice Jamil’s order was based on a motion ex-parte filed by Yahaya Bello through his lawyer, M.S. Yusuf, where he prayed to the court for an order to issue and serve the Respondent (EFCC Chairman) with Form 49 Notice to show cause why Order of committal should not be made on Olukoyede.

Having listened to the arguments of the Applicant’s counsel, the submission and the exhibits attached in the Written Address, Justice Jamil granted Yahaya Bello’s prayers and ordered Olukoyede to be summoned to appear before the court to answer the contempt charge.

Delivering his order on the motion on April 25, 2024, Justice Jamil said, “The applicant’s application before me is to the effect that the Respondent has carried out some acts upon which they have been restrained by this Court on the 9th of February, 2024, pending the determination of the substantive motion on Notice before this Court.

“That the said act was carried out by the Respondent in violation of the order which was valid and subsisting when they carried out those acts. That same acts of the Respondent amount to acts of contempt.

“That the Respondent should be summoned to appear before this Court to answer to the contempt charge.

“It’s against the above facts that this Court hereby grants the prayers sought in line with the principle of “Audi Ultra Patem”. To wit:

“An order of this Honourable Court for the issuance of Form 49 Notice to show cause why an order of committal should not be made against the Executive Chairman of the Respondent – Economic and Financial Crimes Commission (EFCC).

“An order for service of Form 49-Notice to show why an order of committal should not be made on the Executive Chairman of the Respondent – Economic and Financial Crimes Commission (EFCC) at EFCC Corporate Headquarters, Plot 301/302, Research and Institution District, Abuja.

“This matter is adjourned to the 13th of May, 2024 for the Respondent’s Chairman to appear before this Court in answer to form 49 ordered to be served on him.”

 

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Naira Depreciates Because I Was Out Of The Country — Odumeje

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The Mountain of Holy Ghost Intervention and Deliverance Ministry’s Prophet Chukwuemeka Ohanemere, popularly known as Odumeje, declared that he had returned to Nigeria in an effort to halt the dollar’s appreciation relative to the Nigerian Naira.

Odumeje, in a video recorded at the airport while returning from London, boasted: “This is Indaboski Bahose. The war and the battle. A man full of power and activities. The only man who tells you, “I will bring down a dollar,” and he gets it done. When I left the country, dollar began to rise; now, I am back, I will continue where I stopped.”

In a video recording of one of his church programmes a few weeks ago, the self-acclaimed prophet had claimed that the exchange rate of dollar to naira came down because of one of his powers, which he dubbed ‘Abidoshaker.’

His claims came on the heels of the Nigerian currency’s significant gains after exchanging at N1,920 per dollar.

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