Ngozi Okonjo-Iweala says she is ready to become World Bank president as she emerges frontrunner for job

NIGERIA'S former finance minister Dr Ngozi Okonjo-Iweala could be named as the next president of the World Bank as she has become the front runner for the job following the sudden resignation of the incumbent Jim Yong Kim.

In 2012, Dr Okonjo-Iweala and Mr Yong Kim were the two leading contenders for the job but the World Bank elected Mr Yong Kim as traditionally, the position has always gone to an American, while the head of the International Monetary Fund (IMF), is filled by a European. Earlier this month, however, Mr Yong Kim suddenly announced that he is standing down and the race for a successor has started.

Speaking yesterday on the sidelines of the World Economic Forum in Davos, Dr Okonjo-Iweala, said she is ready to lead the World Bank if nominated for the job. She pointed out that having contested against Mr Yong Kim, many people have been asking if she would take the job.

Dr Okonjo-Iweala added: “I know that because I contested the last time in 2012, many people are asking the question if I will take the job It is a shareholder’s decision and they have to decide how they want it.

"Someone has to nominate and if the right person were to nominate and if the circumstances are right and people feel I can do the job, yes, I will take it. I have not declared my candidacy as I’m very happy right now and I just want you to know that I’m enjoying life for a change."

Since leaving office as Nigeria's finance minister in 2015, Dr Okonjo-Iweala has returned to the private sector. She currently sits on the boards of Standard Chartered Bank, Twitter, Global Alliance for Vaccines and Immunization and the African Risk Capacity.