Connect with us

Top Story

World Bank President Jim Yong Kim Announces Resignation

Published

on

World Bank President Jim Yong Kim

World Bank President Jim Yong Kim announced Monday he would step down next month, more than three years before his current term was due to expire.

The decision ends Kim’s six-year tenure and may give US President Donald decisive influence over the future leadership of the global development lender.

“It has been a great honor to serve as president of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime,” Kim said in a statement.

Kim, who became president in 2012, is to join an as-yet unnamed firm focusing on investments in developing countries, the bank said in a statement, and will return to the board of Partners-in-Health, which he co-founded.

Under Kim’s leadership, the bank set the goal of eliminating extreme poverty by 2030 and ramped up financing.

Loading...

Last year, it also won approval for a sharp $13 billion capital increase after acceding to requests from the Trump administration to curb loans to high-income countries like China.

Kim’s tenure was also marked by high levels of disaffection among World Bank staff, who chafed at a widespread internal restructuring that Kim began.

World Bank CEO Kristalina Georgieva will serve as interim president upon Kim’s February 1 departure, the bank said in a statement.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

BREAKING: Abaribe Asks Buhari To Resign Over Failure To Protect Nigerians

Published

on

Senate Minority Leader, Senator Enyinnaya Abaribe, has called on President Muhammadu Buhari and the ruling All Progressives Congress(APC) to resign over their inability to safeguard the lives and property of Nigerians since 2015.

He insisted that Buhari and the APC had told Nigerians to stone them if they fail and that “it is now time to pick stones to stone them” in view of their obvious failure.

Senate President Ahmad Lawan cut Abaribe short.

He called on Abaribe and all those who are going to make contributions to the debate to be apolitical.

He said that bandits and Boko Haram insurgents do not operate on partisan grounds when they kill citizens.

Loading...

In his contribution, Senator Abudullahi Adamu, faulted the Senate President for not calling on Abaribe to withdraw his comments.

Lawan had on Tuesday promised that the Senate would dedicate its plenary on Wednesday to debate the worsening security situation in the country and proffer a way forward.

Senate Majority Leader, Senator Yahaya Abudullahi, raised the motion titled: “Nigerian security challenges: Urgent need to restructure, review and reorganize the current security architecture.”

The motion was supported by 105 other Senators.

Abdullahi, in his lead debate, called on his colleagues to note the recent upsurge of security related challenges and the devastating loss of lives, limbs and properties that it unleashed on the nation.

He further urged the Senate to note the comprehensive new National Security Strategy that the government unfolded in December, 2019, “with its very clear statement of goals, objectives and challenges that faced the nation particularly those challenges whose recent upsurge have a direct and devastating impact on the lives and safety of the people.”

The security challenges according to him, include: Terrorism and violent extremism, armed banditry, kidnapping, militancy and separatist agitation.

Others are Pastoralists/farmer clashes and Cattle Rustling; Organized crime; Piracy and sea robbery; and Cross border crimes of smuggling and illegal drugs and fire arms trafficking.

He insisted that even though the Senate appreciates the recent effort to redefine the nation’s approaches to the security challenges, the “implementation strategy must be operationalized in a manner that takes a critical and intrusive review of the nature, structure and disposition of the security institutions, particularly the Police, Civil Defence, Intelligence, Customs, Immigration, etc.”

Continue Reading

News

BREAKING: Again, Fire Guts Balogun Market, Lagos

Published

on

explosion in Maiduguri - Boko Haram

Popular Balogun market on Lagos Island is currently on fire again.

The fire reportedly started from the building opposite Oluwole Car Park on Martins Street.

Details shortly…*

Continue Reading

Politics

PDP Threatens To Boycott 2023 Polls

Published

on

Uche Secondus - PDP National Chairman

Peoples Democratic Party (PDP) has threatened to boycott the 2023 general elections if electoral reform are not carried out.

National Chairman, Uche Secondus, stated this yesterday, when he received a team from the International Republican Institute (IRI), who visited him at the PDP headquarters, in Abuja.

He said the decision to shun the polls was borne out of the experience of the opposition party in recent elections, which he say had not been pleasant.

He claimed the government, security agencies and the Independent National Electoral Commission (INEC) were working together to deny the people the right to choose their leaders.

Secondus noted that the country needed a new electoral law that would legalise electronic voting as well as insulate the military and other security agencies from the electoral process. He said anything short of that would not be unacceptable.

Loading...

“One of the areas we are looking forward to in our country is our electoral processes and laws. We believe they are antiquated, they need amendment. We need to improve on our voting patterns and the reporting of results from voting point and the transmission processes.

“They are all embodied in the electoral processes and amendment; without that, it will be difficult for us to think about contesting any election because previous experiences have been terrible and horrifying. The people in government with INEC and security agencies collaborate to deny the people their right. As we speak, both the legislature and judiciary have been caged and they are taking directive from the villa.

“So, these are areas that we need the collaboration of IRI and other international agencies. If people do not have the right to vote, what is the essence of election? People must come out of their houses to register and vote. They must have the right to go out there to vote and then be safe.”

He said the party has resolved to set up a committee to review the conduct of the 2023 polls, adding that the report will, to a great extent, determine if it would participate in future polls in the country.

“If there is no need, we will inform the leaders of our party, show them the facts and figures, people who have been killed, people who went to vote, if you can not be guaranteed that you can go and vote and come back safely, what will be the need in 2023 to come and vote?”

Speaking during the visit, the Resident Program Director, IRI, Angela Wambugu, said electoral reform was much needed in the country.*

Continue Reading
Advertisement