• Ngozi Okonjo-Iweala, may not realise her dream of becoming a World Bank President in the next five years.
  • David Malpass, a U.S. national and Under Secretary for International Affairs, U.S. Department of the Treasury was the only candidate nominated for the position.
  • World Bank's Executive Directors to conduct a formal interview for David Malpass in Washington D.C. soon

Nigeria's former minister, Ngozi Okonjo-Iweala, may not realise her dream of becoming a World Bank President in the next five years.

This development was as a result of the nomination of a sole candidate, David Malpass, who was picked by US President, Donald Trump.

In a statement by the World Bank on Thursday, David Malpass, a U.S. national and Under Secretary for International Affairs, U.S. Department of the Treasury was the only candidate nominated for that position.

The world's monetary authority stated that nomination for the position closed yesterday.

“The World Bank’s Board of Executive Directors today confirmed that, as announced on January 10, the period for submitting nominations for the position of the next President of the World Bank closed on Thursday, March 14 at 9:00 am ET. The Board received one nomination and would like to announce that the following individual will be considered for the position:

David Malpass, a U.S. national and Under Secretary for International Affairs, U.S. Department of the Treasury.

David Malpass, a U.S. national and Under Secretary for International Affairs, U.S. Department of the Treasury

The Bank's Executive Directors will conduct a formal interview of the candidate in Washington D.C. soon and conclude the presidential selection process before its Spring Meeting.

At the World Economic Forum in Davos in January, Okonjo-Iweala had said she may reconsider the top job at the World Bank if the right people nominate her.

It is not clear if the former coordinating minister declared an interest in the race.

Seven years ago, she contested the World Bank presidency seat with the outgoing president, Jim Yong Kim but lost. With more than 25 years of experience at the World Bank, Okonjo-Iweala has what it takes the lead the foremost financial institution.