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WTO: Okonjo-Iweala May Emerge Unopposed as Korean Candidate Drops

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Dr. Ngozi Okonjo-Iweala
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Dr. Ngozi Okonjo-Iweala, Nigeria’s former Finance Minister,  may emerge as the sole contestant for the director-general of the World Trade Organisation (WTO) as Yoo Myung-hee, her opponent, South Korean may withdraw from the race soon.

WTO: Okonjo-Iweala May Emerge Unopposed as Korean Candidate Drops

Dr. Ngozi Okonjo-Iweala

A report by Washington Trade Daily said that South Korea has decided to withdraw its candidate from the WTO top job.

The Washington Trade Daily reported that South Korea had informed the US of its decision to withdraw its candidate for the race.

“Korea plans to withdraw Trade Minister Yoo from the race for new WTO director-general, paving the way for Nigeria’s Ngozi Okonjo-Iweala to be the next DG and the first woman and African in the role,” Washington Trade Daily tweeted on its handle, @washtradedaily.

Recall that recently, David Walker, WTO General Council Chair, announced that the meeting to decide the next WTO Director-General had been postponed, because of the new COVID-19 restrictions in Geneva and “current events”, which may not be unconnected to the US election.

Okonjo-Iweala has the support of the majority to become the next Director-General of the WTO, but the United States, which favours the South Korean candidate, is blocking the selection of Ms. Okonjo-Iweala.

However, the reported plan of the South Korean candidate to step down and the victory of Joe Biden in the US Presidential election presents Okonjo-Iweala the clear chance of clinching the position.


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Senate Expresses Shock over Billions of Naira missing from FG Coffers

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Senate has raised the alarm that billions of naira have left the federal government’s coffers unaccounted for, with critical revenue-generating agencies refusing to honour its Summons.

Senate Expresses Shock over Billions of Naira missing from FG Coffers

The Senate has however expressed anger as these revenue-generating agencies undermine its summon to answer queries raised by the Office of the Auditor General of the Federation (OAGF) about financial transactions.

Addressing Journalists yesterday in Abuja, Senator Aliyu Ahmed Wadada, SDP, Nasarawa West, Chairman, Senate Committee on Public Accounts, explained that the unaccounted funds form part of the resources required for development, stressing that affected agencies needed to account in line with legislative provisions that empower the parliament to investigate them.

According to Wadada, the Auditor General’s report which was submitted to the Committee has unravelled rots in some agencies of government, that it takes only irresponsible parliament not to conduct public investigations, even as he was appalled at how these agencies conspire together and have taken the decision not to honour Senate Committees’ invitations.

The Chairman, Public Accounts Committee has named the Central Bank of Nigeria, Nigeria Customs Service, Federal Inland Revenue Service, FIRS, the Nigerian National Petroleum Company Limited, NNPCL as among the top government organisations that have vehemently refused to honour the Senate when invited.

Wadada has however threatened that the Senate would report heads of these agencies to President Bola Ahmed after another magnanimous opportunity.

Flanked at the briefing by all members of the Committee, Wadada said: “All efforts to get Nigerian Customs Service to the table to know how did this happen, what is the way forward. We are still where we were from the day before yesterday to now.

“The Central Bank of Nigeria, I have a course on one of the issues that I’ve got to do with Central Bank of Nigeria, I have a course to take it on the floor of the Senate.

“It is important for Nigerians to know, under the so-called Ways and Means. What happened under Ways and Means why Central Bank of Nigeria, debited borrower and credited borrower.

“Consolidated revenue funds account is government’s account. And the TSA is also the government’s account. And in charging the interest, instead of the interest to be charged to the treasury account, they went again ahead to charge the Treasury account.

“They went again ahead to Treasury account. charge Consolidated Revenue Funds account which now have amounted to over 6 trillion.”

According to him, there was correspondences between the Committee and Minister of Finance and Coordinating Minister of the Economy and the Debt Management Office, DMO because of the faulty documents which they were not ready to answer to and have been evasive, adding that the report of the Auditor General for the Federation which the affected agencies are running away from covers 2019 till date.

The chairman of the Committee disclosed that Nigeria Satellite Communications Limited had been invited nine times, but failed to appear, Nigeria Police Force; Nigeria Civil Aviation Authority, among others as snubbing Senate’s invitation.


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FEC Approves ₦758 Billion Bond to Clear Pension Liabilities

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Federal Executive Council (FEC) has approved the issuance of a ₦758 billion bond by the Debt Management Office to clear the backlog of pension liabilities for all categories of pensioners.

The decision was made during Tuesday’s meeting chaired by President Bola Tinubu at the Council Chamber of the Presidential Villa in Abuja.

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, announced the approval, stating that it provides significant relief to beneficiaries owed under the defined benefit system, which was replaced by the contributory pension scheme in 2004 and updated with a new act in 2014.

Edun explained that the defined benefit scheme requires periodic adjustments, including top-ups to reflect wage increases every five years, for those yet to retire under the old system.

Additionally, the FEC approved a €30 million long-term concessional financing agreement with the French Development Agency.

The loan aims to support student accommodation projects, with Family Homes Limited serving as the implementation partner.


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FG Says Nigeria @ ‘Moderate’ Risk following Fresh Ebola Virus Outbreak

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Federal government has said it has heightened surveillance especially at the points of entry following the outbreak of Ebola Virus Disease (EVD) in Uganda.

FG Says Nigeria @ ‘Moderate’ Risk following Fresh Ebola Virus Outbreak

The Nigeria Centre of Disease Control and Prevention (NCDC) has in a public advisory confirmed that there is currently no case of the virus , but warned that the country is at moderate risk.

This means that without mitigation, Ebola is likely to occur in Nigeria, with potential for significant public health consequences, hence the need to take the necessary precautions, the Centre explained.

Ebola virus disease, formerly known as Ebola Hemorrhagic Fever, is a severe, often deadly disease caused by the Ebola virus, with a fatality rate of 25-90%.

On 30th January 2025, the Ministry of Health in Uganda confirmed an outbreak of Ebola caused by the Sudan specie, in Wakiso, Mukono and Mbale city in Mbale district.

Only one case has so far been reported, and one death (confirmed by post-mortem).

Forty-four (44) contacts are being followed up.

The NCDC said it will continue to monitor the regional and global

situations, but also urged Nigerians to avoid all but essential countries with confirmed cases of Ebola.

The Centre directed persons already in Nigeria but with recent travel history to or transit through countries with Ebola cases in the last 21 days who experience symptoms such as fever, muscle pain, sore throat, diarrhoea, weakness, vomiting, stomach pain,

or unexplained bleeding or bruising should promptly call 6232 or State Ministry of Health hotlines, shelter-in-place to avoid further spread, and await dedicated responders.

“On our part, we will continue to strengthen surveillance across the country, including our borders and airports especially for travelers from affected areas; alerting our health workers to heighten

their level of suspicion for suspected cases; enhancing our laboratory capacities for quick testing of suspected cases; as well coordination with the WHO and the African Regional Health Authorities to monitor developments and share critical information”, the centre said.

“These include the update of our EVD emergency contingency plan, heightened surveillance especially at the points of entry, and optimizing diagnostic capacity for EVD testing in designated laboratories in cities with international airports of entry and the National Reference Laboratory. In addition, all Lassa Fever testing laboratories can be activated to scale up testing if the need arises”, it added.

While urging Nigerians to take preventive measures, the NCDC noted that the approved vaccine for the Zaire species is not currently available in the country but can be obtained from the WHO Afro and does not protect against the Sudan virus, which is responsible for the outbreak in Uganda.

 

 


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