Nigerian Finance Minister Loses World Bank Job Bid

The news that the Nigerian Finance Minister, Dr. Ngozi Okonjo-Iweala, was to contest for the post of president of the World Bank presents had got a few people in Africa excited.

The nomination was hailed by some as a victory for women and Africans.

Ngozi has 20 years experience working for the World Bank, yet from the beginning the odds of winning the job were actually stacked against her.

In the end the American Jim Yong Kim got the job as most critics had predicted.

It really does not take a rocket scientist to figure out that positions like President of the World Bank are given to individuals who are likely to protect and forward the interest of select interest groups.

Although Kim’s selection marks a break from previous World Bank leaders who were typically political, legal or economic figures, it however has been consistent with the notion that institutions like the World Bank are at their core just Old Boys Clubs where you find the same usual suspects hanging around.

Watch the video below and see why Dr. Ngozi Okonjo-Iweala did not get the job.

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