David Malpass unanimously announced as the 13th World Bank President

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David Malpass, a senior US Treasury official in President Donald Trump’s administration, was unanimously chosen Friday as the next president of the World Bank.

 

The selection of Malpass by the bank’s board of directors followed an “open, transparent” nomination process in which citizens of all membership countries were potentially eligible, the bank said in a statement.

 

But since the bank’s creation following World War II, all of its presidents have been American men, following an unwritten rule that also ensures European leadership at the top of its sister institution, the International Monetary Fund. The announcement came as expected just prior to next week’s joint spring meetings of the World Bank and the IMF.

 

Malpass begins his five-year term on Tuesday, replacing former President Jim Yong Kim, whose surprise departure in February came not even halfway through his second term. Malpass had been the lone candidate for the job and his nomination by Trump earlier this year sparked outrage among critics, who saw it as an affront to the global anti-poverty lender’s very mission.

 

The 63-year-old US Treasury official in charge of international affairs has been a strident critic of global financial institutions calling their lending practices “corrupt” and ineffective, and complaining they are overly generous to China. He has softened his message recently, however, saying he is committed to the bank’s mission of eliminating extreme poverty and that reforms enacted last year as part of a $13 billion capital increase addressed many of his criticisms.

 

In recent years, emerging market countries have challenged the unwritten arrangement on World Bank and IMF leadership, demanding a more open, merit-based selection process. The bank has been at pains to stress that it has heard such criticisms and now allows a more open process. But the few non-American candidates in recent years have received little support from major bank shareholders.

 

Many, including former Treasury officials from both political parties, have sharply criticized Malpass and his qualifications. They pointed to his failure to foresee the global financial crisis during his time at the now-defunct investment bank Bear Stearns and his opposition, which later proved unjustified, to post-crisis Federal Reserve policies.

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Ali Baba complains about delay in Evans the ‘kidnapper’s trial two years after he was arrested for high-profile abductions across the country

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Veteran Nigerian comedian, Ali Baba has taken to his Instagram to complain about the delay in Evans the ‘kidnapper’s trial.

The notorious kidnap kingpin whose real name is Chukwudi Onuamadike was arrested in June 2017 after years of high-profile abductions across the country, during which he collected millions of dollars in ransoms. Since his arrest, he has been on trial.

Taking to his Instagram to react, Ali Baba wrote:

Evans is still on triallllllllllllll.

See why justice in Nigeria leaves a lot to be desired. The New Zealand shooter… had his day in court, no waste of time. The Boston Marathon bomber too did not even have time to plan an escape. The Nigerian diaper bomber… didn’t have time to take a leak and all of the other cases did not take 1 year. But in Nigeria, a case will go on for 20 years.

The lawyers who are on the case will get frustrated; move to another law firm; retire:; or die; get appointed into government; set up their own chambers; the judge will be transferred or promoted or retired or died… for one reason or the other, shaaaaaa justice will be delayed. That’s how cases have been killed. Young promising lawyers have been frustrated out of the legal world. Beautiful lawyers that would have made SAN in record time. Naaaaaa. We don’t do that.

The SANs will come to court, take a date and in collusion with justices who are their friends continue to take adjournment after adjournment. Oh he is appearing in a higher court. An election tribunal case came up and it’s a time-bound case. He is out for medical checkup. A case is clashing with this one. Me lord give me time to go through the prosecution witnesses statements… 5 years later, case is still on. Judge will not sit.

People threatening witnesses. Witnesses disappearing without a trace. Court is on strike. Case has not begun, but it will first reach Supreme Court. Just to interpret jurisdiction will take 2 years. Then after that it will come back to the magistrate court. And move up again, thanks to appeals till Supreme Court again.

We have no shame. People who walk free in Nigeria get sentenced in working judicial systems. People were jailed in the Halliburton case. Yet those who the culprits paid here, are saints.
And we have the guts to query Dubai judicial system. You are caught, you go to court and you are cut. No diplomatic courtesy.

Evans is still on triallllllllllllll. See why justice in Nigeria leaves a lot to be desired. The New Zealand shooter… had his day in court, no waste of time. The Boston Marathon bomber too did not even have time to plan an escape. The Nigerian diaper bomber… didn’t have time to take a leak and all of the other cases did not take 1 year. But in Nigeria, a case will go on for 20 years. The lawyers who are on the case will get frustrated; move to another law firm; retire:; or die; get appointed into government; set up their own chambers; the judge will be transferred or promoted or retired or died… for one reason or the other, shaaaaaa justice will be delayed. That’s how cases have been killed. Young promising lawyers have been frustrated out of the legal world. Beautiful lawyers that would have made SAN in record time. Naaaaaa. We don’t do that. The SANs will come to court, take a date and in collusion with justices who are their friends continue to take adjournment after adjournment. Oh he is appearing in a higher court. An election tribunal case came up and it’s a time bound case. He is out for medical check up. A case is clashing with this one. Me lord give me time to go through the prosecution witnesses statements… 5 years later, case is still on. Judge will not sit. People threatening witnesses. Witnesses disappearing without a trace. Court is on strike. Case has not begun, but it will first reach Supreme Court. Just to interpret jurisdiction will take 2 years. Then after that it will come back to the magistrate court. And move up again, thanks to appeals till Supreme Court again. We have no shame. People who walk free in Nigeria get sentenced in working judicial systems. People were jailed in the Halliburton case. Yet those who the culprits paid here, are saints. And we have the guts to query Dubai judicial system. You are caught, you go to court and you are cut. No diplomatic courtesy.

A post shared by Ali Baba (@alibabagcfr) on

MacKenzie Bezos set to become the world’s fourth-wealthiest woman after getting $32billion from her divorce from Jeff Bezos

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Following her divorce from the World’s richest man and  Amazon founder Jeff Bezos, MacKenzie Bezos will be the fourth-richest woman in the world.

She will be worth at least $35 billion after receiving a quarter of Bezos’ Amazon shares. That will give her a 4% stake of Amazon (AMZN), according to a court filing pending approval of their divorce.

MacKenzie Bezos will be the 23rd richest person in the world on the Bloomberg Billionaires Index, Bloomberg reported late Thursday.

The richest woman in the world is L’Oreal heiress Francoise Bettencourt Meyers, with a net worth of $53.7 billion, according to Bloomberg. The second wealthiest woman is Alice Walton, the billionaire daughter of Walmart’s founder. Her net worth is $44.2 billion.

In third place, with a net worth of $37 billion, is Jacqueline Badger Mars, a co-owner of the candy empire.

On Wednesday, Jeff Bezos and his estranged wife MacKenzie Bezos who have four children together confirmed the end of their 25 years marriage and said they were ‘grateful’  after finishing the process of their divorce.

Jeff, 55, will keep 75 percent of their Amazon stocks, leaving MacKenzie, 48, with just a quarter which represents a four percent stake in the company worth around $32billion at current value.

Jeff Bezos will also retain voting control over all MacKenzie Bezos’ shares and will also maintain all his interests in the Washington Post and Blue Origin, a private space company. He remains the world’s richest person on the Bloomberg Billionaires Index, with a net worth of $114 billion.

International Criminal Court’s chief prosecutor, Fatou Bensouda’s entry visa to the United States revoked

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United States authorities revoked International Criminal Court chief prosecutor Fatou Bensouda‘s entry visa to the United States.

 

“It is our understanding that should not have an impact on the Prosecutor’s travel to the US to meet her obligations to the UN, including regular briefings before the UN Security Council. The Office of the Prosecutor has an independent and impartial mandate under the Rome Statute of the ICC. The Prosecutor and her Office will continue to undertake that statutory duty with utmost commitment and professionalism, without fear or favor,” her office said in a statement.

 

Secretary of State Mike Pompeo announced in mid-March that the US would revoke or deny visas to ICC personnel a move meant to deter a potential investigation by the Hague-based judicial body into alleged war crimes and crimes against humanity committed by US troops in Afghanistan.

 

Pompeo said the restrictions apply to “persons who take or have taken action to request or further such an investigation.” Pompeo also warned about potential economic sanctions “if the ICC does not change its course.”

 

The US is not a member of the ICC. In November 2017, Bensouda sought authorization to open an investigation into crimes connected to the conflict in Afghanistan. According to a statement from the time, Bensouda’s office “determined that there is a reasonable basis to believe” that members of the US armed forces and the CIA committed “war crimes.”

 

The ICC has not yet made a decision on whether to authorize that investigation. Pompeo slammed the potential investigation an example of “politically motivated prosecutions of Americans. The first and highest obligation of our government is to protect its citizens and this administration will carry out that duty,” Pompeo said at the time.

 

The secretary of state also warned in March that “these visa restrictions may also be used to deter ICC efforts to pursed allied personnel including Israelis without allies’ consent.” The Palestinians have asked the ICC to investigate Israel for alleged human rights abuses.

Video: Nollywood actor, Charles Okocha gives police officers the middle finger for harassing him

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Nollywood actor, Charles Okocha didn’t go down easy when some police officers attempted to harrass him in Lagos today.

 

Details of the encounter is still sketchy at the moment but in the video recorded by another motorist, the angry actor is seen giving the officers the middle finger and yelling “f*ck you”.

 

See the video below…