In Investor News

President Muhammadu Buhari nominated the former Minister of Finance and Coordinating Minister of the economy, Ngozi Okonjo Iweala, as the Director-General of the World Trade Organization (WTO). This was seen in a tweet posted by the presidential aide on Digital and New Media, Tolu Ogunlesi, in the early hours of Friday, June 5, 2020.

In the statement, Ogunlesi said that the current Director-General of the intergovernmental organisation, Roberto Azevedo, is stepping down from his position on August 2020, a year ahead of the end of his tenure. Azevedo, who has been the head of the WTO since 2013, is stepping down at this critical period of global economic crisis and the trade war between the United States of America and China.

This means that the election that was earlier scheduled for 2021 when his tenure is supposed to expire might be coming up much earlier for a new four-year term.


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