Jobs/Appointments
World Bank President David Malpass To Vacate Seat in June
By Adedapo Adesanya
In an unexpected turn of events, the President of the World Bank Group, Mr David Malpass, announced his intention to step down from his position by the end of the bank group’s fiscal year on June 30.
In the position he served for more than four years, he focused on seeking stronger policies to increase economic growth, alleviate poverty, improve living standards, and reduce government debt burdens.
He said, “It has been an enormous honour and privilege to serve as President of the world’s premier development institution alongside so many talented and exceptional people.”
“With developing countries facing unprecedented crises, I’m proud that the Bank Group has responded with speed, scale, innovation, and impact. The last four years have been some of the most meaningful of my career.
“Having made much progress, and after a good deal of thought, I’ve decided to pursue new challenges. I want to thank our staff and boards of directors for the privilege of working with them every day to strengthen the effectiveness of our operations in the most challenging of times,” he added.
Mr Malpass, who was recommended by former US President, Mr Donald Trump, for the position, over the last four years spearheaded the bank group’s five institutions (IBRD, IDA, IFC, MIGA, and ICSID) responses to global crises. He mobilised a record $440 billion in response to the COVID-19 pandemic, the war in Ukraine, the sharp global economic slowdown, unsustainable debt burdens, climate change, and food, fertilizer, and energy shortages.
With developing countries under severe financial pressure, Mr Malpass frequently met with world leaders to discuss supportive policies, including debt reduction, to break the cycles of unsustainable debt.
Under his leadership, the group more than doubled its climate finance to developing countries, reaching a record $32 billion last year.
Mr Malpass also led efforts to enable and increase private sector investment and trade and contributed thought leadership to the Bank Group’s analytical products on fiscal and monetary policy, currency systems, and governance reform. He also strengthened the institution’s management and personnel and will leave the Bank Group with solidified finances and fundraising to support its AAA credit rating.
“The Bank Group is fundamentally strong, financially sustainable, and well positioned to increase its development impact in the face of urgent global crises,” said Mr Malpass.
“This is an opportunity for a smooth leadership transition as the Bank Group works to meet increasing global challenges, facilitate private investment, sharpen its focus on global public goods, and maintain strong momentum on operational delivery and portfolio performance for client countries,” he added.
Among some of his achievements are – the Climate Change Action Plan to better integrate climate and biodiversity with development and growth; $30 billion in projects to address the food, fertilizer, and fuel crisis facing developing countries; and the launch of the Pandemic Fund to improve preparedness, with initial pledges of $1.6 billion from 25 countries and donors among others.
His administration has not been without pressure as Special Adviser to the United Nations Secretary-General on Climate Change, Mr Selwin Hart, in 2021, called out the World Bank for not doing enough for climate action.
Pressure on Mr Malpass was reignited last September when he did not provide the expected answer within the scientific consensus around climate change, which drew condemnation from the US government.
So far, some names have emerged to take over the position, including the head of the US Agency for International Development (USAID), Ms Samantha Power, the President of Rockfeller Foundation, Mr Rajiv Shia, and the deputy secretary of the US Treasury, Mr Wally Adeyemo.
By Modupe Gbadeyanka
The termination of the employment of one Mr Bodunrin Akinsuroju by CHI Limited has been declared as unlawful by the National Industrial Court of Nigeria.
Delivering judgment on the matter, Justice Sanda Yelwa of the Lagos Judicial Division of the court held that the sacking of Mr Akinsuroju did not comply strictly with the provisions of the contract of employment and the Employee Handbook.
Consequently, the company was directed to pay him the sum of N2 million as general damages for wrongful termination and N200,000 as costs of action, while Mr Akinsuroju was ordered to return the company’s properties in his possession or pay their assessed market value.
Justice Yelwa found that the contract agreement between both parties clearly required either party to give 30 days’ notice or payment in lieu of notice after confirmation of appointment, and there was no evidence that the employee was given the required notice or paid salary in lieu of notice.
The judge held that failure to comply with this fundamental term amounted to a breach of the contract of employment, thereby rendering the termination wrongful.
Mr Akinsuroju had claimed that the allegation of misconduct against him was unfounded and not established, maintaining that the disciplinary committee proceedings were prejudicial and that the termination of his employment was without justifiable cause and without compliance with the agreed terms of his employment.
In defence, CHI Limited contended that it had the right to terminate the employment of Mr Akinsuroju and that the termination was lawful and in accordance with the contract of employment and the Code of Conduct.
In opposition, counsel to Mr Akinsuroju submitted that the alleged breaches were not proved and that the termination letter took immediate effect without the requisite 30 days’ notice or payment in lieu of notice as stipulated in the letter of appointment and the Employee Handbook, urging the court to hold that the termination was wrongful and to grant the reliefs sought.
By Modupe Gbadeyanka
President Bola Tinubu on Tuesday appointed Mr Tunji Disu as the acting Inspector General of Police (IGP), following the resignation of Mr Kayode Egbetokun.
Mr Disu, an Assistant Inspector General of Police (AIG), was recently moved to the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos.
A statement today by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that the President would convene a meeting of the Nigeria Police Council shortly to formally consider the appointment of Mr Disu as substantive IGP, after which his name will be transmitted to the Senate for confirmation.
Mr Tinubu expressed confidence that Mr Disu’s experience, operational depth, and demonstrated leadership capacity would provide steady and focused direction for the Nigeria Police Force during this critical period.
He reiterated his administration’s unwavering commitment to enhancing national security, strengthening institutional capacity, and ensuring that the Nigeria Police Force remains professional, accountable, and fully equipped to discharge its constitutional responsibilities.
Mr Egbetokun was said to have resigned from the position due to pressing family considerations.
President Tinubu, who accepted the resignation letter, expressed his profound appreciation for Mr Egbetokun’s decades of distinguished service to the Nigeria Police Force and the nation. He acknowledged his dedication, professionalism, and steadfast commitment to strengthening internal security architecture during his tenure.
Appointed in June 2023, Mr Egbetokun was serving a four-year term scheduled to conclude in June 2027, in line with the amended provisions of the Police Act.
The statement disclosed that his replacement was in view of the current security challenges confronting the nation, and acting in accordance with extant laws and legal guidance.
By Adedapo Adesanya
Mr Tunji Disu, an Assistant Inspector General of Police (AIG), has reportedly replaced Mr Kayode Egbetokun as the new Inspector General of Police (IGP).
Mr Egbetokun resigned from the position on Tuesday after he was said to have held a meeting with President Bola Tinubu on Monday night at the Presidential Villa in Abuja.
President Tinubu appointed Mr Egebtokun as the 22nd IGP on June 19, 2023, with his appointment confirmed by the Nigeria Police Council on October 31, 2023.
Appointed as IGP at the age of 58, Mr Egbetokun was due for retirement on September 4, 2024, upon reaching the mandatory age of 60, but his tenure was extended by the President, creating controversies, which trailed him until his exit from the force today.
Although the police authorities are yet to comment on the matter or issue an official statement about his resignation, the move came amid reports suggesting that Mr Egbetokun has left the position.
Mr Egbetokun’s tenure was marred by a series of controversies; he recently initiated multiple charges against activist Mr Omoyele Sowore and his publication, SaharaReporters, after Mr Sowore publicly described him as an “illegal IGP.”
The dispute escalated into protracted legal battles, with the Federal High Court issuing injunctions restricting further publications relating to the former police chief and members of his family. Critics interpreted these court actions as attempts to stifle dissent and weaken press freedom.
His replacement, Mr Disu, was posted to oversee the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos, some days ago.
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