Economy

African Union Disqualifies Okonjo-Iweala from Contesting for WTO Director

Okonjo Iweala Disqualifies from Competing for WTO Post

African Union Executive Council has disqualified Nigeria’s former finance minister, Dr. Ngozi Okonjo Iweala, from competing for the vacant post of Director-General of the World Trade Organisation, according to an exclusive report published by Sahara Reporters earlier today.

Earlier this month, President Muhammadu Buhari nominated Dr Okonjo-Iweala after withdrawing the nomination of Fedrick Agah, Nigeria’s permanent representative to WTO.

Egypt objected to the new nomination immediately, saying it violates the procedure of the committee on candidature within the international system of the African Union.

However, the Nigerian government refuted Egypt claims, saying they are only afraid of Okonjo-Iweala’s global reach and appeal.

Despite knowing that the executive council of the AU had invited member states to present nominations into the office of the DG of the WTO since July 2019 for the union to agree on a candidate to support for the election scheduled for next year in Switzerland.

AU is now saying the Executive Council had endorsed Fedrick Agah from Nigeria, Eloi Laourou from the Benin Republic and Abdulhameed Mamdouh from Egypt before Buhari decided to substitute the nation’s nomination.

In a document from the Office of the Legal Counsel of the African Union, Reference Number: BC/OLC/24/5056.20 dated June 15, 2020, the African Union says “the nomination of Okonjo-Iweala violates Rule (11), 1, 2 and 3, Rule 12 and Rule 15(3) of the rules of procedure of the committee on candidatures within the International System of the AU as well as Council’s Decisions Ex CI 1072 (XXXV), Ec CI Dec 1090 (XXXVI) and Assembly Dec 795 (XXXIII).”

Please note that the council endorsement is for nominees, not their countries.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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