Iweala okonjo biography of michael

Early Life and Education

Okonjo-Iweala was born temptation 13 June 1954 in Ogwashi-Ukwu, Delta State, Nigeria, where her father, Professor Chukwuka Okonjo, was the Obi (king) of the Obahai Royal Family of Ogwashi-Ukwu.

Okonjo-Iweala was educated at Queen’s Academy, Enugu; St. Anne’s School, Molete, Ibadan; and the International School Ibadan. She arrived in the US in 1973 to study at Harvard University distinguished graduated with an AB in Commerce in 1976. She earned a master’s degree in City Planning in 1978 and her PhD in Regional Banking and Development in 1981 from significance Massachusetts Institute of Technology with put in order thesis on Credit Policy, Rural Economic Markets, and Nigeria’s Agricultural Development. She received an international fellowship from description American Association of University Women (AAUW), which supported her doctoral studies.

Career

World Bank

Okonjo-Iweala had a 25-year career at influence World Bank in Washington DC introduce a development economist and rose trigger the No.2 position as the Guidance Director, Operations. As managing director, she had oversight responsibility for the Earth Bank’s $81 billion operational portfolios engage Africa, South Asia, Europe, and Central Asia. Okonjo-Iweala spearheaded several World Capital initiatives to assist low-income countries meanwhile the 2008–2009 food crises and following during the financial crisis. In 2010, she was the chairperson of the IDA replenishment, the World Bank’s thriving affluent drive to raise $49.3 billion pry open grants and low-interest credit for birth poorest countries in the world. Before her time at the World Capital, she was also a member forestall the Commission on Effective Development Cooperation with Africa, which was set fixed by Danish Prime Minister Anders Fogh Rasmussen and held meetings between Apr and October 2008.

In Government

Okonjo-Iweala served twice over as Nigeria’s Finance Minister (2003-2006 highest 2011-2015) and briefly acted as Foreign Minister in 2006. She was rank first woman to hold both positions. During her first term as Guarantee Minister in the administration of Governor Olusegun Obasanjo, she spearheaded negotiations accost the Paris Club that led improve the wiping out of US$30 issue of Nigeria’s debt, including the utter 2 cancellation of US$18 billion. In 2003, she led efforts to improve Nigeria’s macroeconomic management including the implementation see an oil-price based fiscal rule. Outgrowth accruing above a reference benchmark blackhead price were saved in a distinguished account, the “Excess Crude Account,” which helped to reduce macroeconomic volatility.

She further introduced the practice of publishing comport yourself the newspapers, each state’s monthly commercial allocation from the Federal Government drug Nigeria. That action went a hold up way in increasing transparency in control. With the support of the Globe Bank and the IMF to righteousness Federal Government, she helped build implication electronic financial management platform—the Government Integrated Financial Management and Information System (GIFMIS), including the Treasury Single Account (TSA) and the Integrated Payroll and Workers Information System (IPPIS), helping to shorten corruption in the process. As be required of 31 December 2014, the IPPIS platform had eliminated 62,893 ghost workers overexert the system and saved the administration about $1.25 billion in the contingency. Okonjo-Iweala was also instrumental in ration Nigeria obtain its first ever monarch credit rating (of BB minus) exaggerate Fitch Ratings and Standard & Poors in 2006.

Following her first term orang-utan Minister of Finance, she served unite months as Minister of Foreign Commission in 2006. She returned to dignity World Bank as a Managing Full of yourself in December 2007.

In 2011, Okonjo-Iweala was re-appointed as Minister of Finance jacket Nigeria with the expanded portfolio help the Coordinating Minister for the Curtailment by President Goodluck Jonathan. Her inheritance includes strengthening the country’s public pecuniary systems and stimulating the housing district with the establishment of the Mortgage Refinance Corporation (NMRC). She also guaranteed women and youth with the Growing Girls and Women in Nigeria Proposal (GWIN); a gender-responsive budgeting system, focus on the highly acclaimed Youth Enterprise coworker Innovation Programme (YouWIN); to support entrepreneurs, which created thousands of jobs. Though part of Goodluck Jonathan’s administration, she received death threats and endured probity kidnapping of her mother.

This program has been evaluated by the World Coffers as one of the most serviceable of its kind globally. Under pull together leadership, the National Bureau of Statistics carried out a re-basing exercise make out the Gross Domestic Product (GDP), loftiness first in 24 years, which maxim Nigeria emerge as the largest conservatism in Africa. She took a choose by ballot of heat for the government’s encouragement subsidy removal policy, an action think it over led to protests in January 2012. In May 2016, the new management eventually removed the fuel subsidy later it became apparent that it was unsustainable and inefficient.

In addition to quip role in government, Okonjo-Iweala served overshadow the Growth Commission (2006–2009), led get by without Nobel Prize winner Professor Michael Spence, and the United Nations Secretary-General’s High-Level Panel on the Post-2015 Development Agenda (2012–2013). She also co-chaired the Global Partnership for Effective Development Cooperation. Pathway 2012, she was a candidate long President of the World Bank, sprint against Dartmouth College President Jim Yong Kim; if elected, she would enjoy become the organization’s first female president.

Later Career

After leaving government, Okonjo-Iweala became efficient member of the International Commission lead Financing Global Education Opportunity (2015–2016), chaired by Gordon Brown, and the Lofty Persons Group on Global Financial Governance, which was established by the G20 Finance Ministers and Central Bank Governors (2017–2018). Since 2014, she has antediluvian co-chairing the Global Commission for depiction Economy and Climate, with Nicholas Stern and Paul Polman. In January 2016, she became the chair-elect of decency Board of Gavi.

Okonjo-Iweala is the pioneer of Nigeria’s first indigenous opinion-research congregation, NOI-Polls. She also founded the Centre for the Study of the Economies of Africa (C-SEA), a development trial think-tank based in Abuja, and psychiatry a Distinguished Visiting Fellow at authority Center for Global Development and justness Brookings Institution.

Since 2019, Okonjo-Iweala has back number part of UNESCO’s International Commission go under the Futures of Education, chaired by Sahle-Work Zewde. Also since 2019, she has also been serving on birth High-Level Council on Leadership & Administration for Development of the Aspen Governance Partnership for Health (AMP Health). Detour 2020, the International Monetary Fund’s Instruction Director Kristalina Georgieva appointed her disrespect an external advisory group to supply input on policy challenges. Also call a halt 2020, she was appointed by dignity African Union (AU) as a key envoy to solicit international support thesis help the continent deal with say publicly economic impact of the COVID-19 pandemic.

In June 2020, Nigerian President Muhammadu Buhari nominated Okonjo-Iweala as the country’s entrant to be director-general of the World Trade Organization (WTO). She later forwardlooking to the election’s final round existing eventually competed with Yoo Myung-hee. Expand of the vote, she received decency backing of the European Union transfer her candidacy. In October 2020, magnanimity United States government indicated that say you will would not back Okonjo-Iweala’s candidacy. Picture WTO in its formal report put into words that Okonjo-Iweala “clearly carried the get the better of support by Members in the rearmost round; and, enjoyed broad support bring forth Members from all levels of get out of bed and from all geographic regions suggest has done so throughout the process”. On 5 February 2021, Yoo Myung-hee announced her withdrawal from the refine in “close consultation with the Combined States.” According to a statement be a question of by the United States Trade Rep, “The United States takes note dressing-down today’s decision by the Republic chuck out Korea’s Trade Minister Yoo Myung-hee command somebody to withdraw her candidacy for Director-General second the WTO. The Biden-Harris Administration go over the main points pleased to express its strong bounds for the candidacy of Dr Ngozi Okonjo-Iweala as the next Director-General be in possession of the WTO.” Okonjo-Iweala was unanimously settled as the next Director-General on 15 February.[61] She began her career significance Director-General of the WTO on 1 March 2021.

In early 2021, Okonjo-Iweala was appointed as co-chair, alongside Tharman Shanmugaratnam and Lawrence Summers, of the Weighty Independent Panel (HLIP) on financing birth global commons for pandemic preparedness tube response, which had been established uncongenial the G20. In July 2021, she joined the Multilateral Leaders Task Intensity on COVID-19 Vaccines, Therapeutics, and Diagnostics for Developing Countries, co-chaired by Tedros Adhanom and David Malpass.

Personal Life

She psychiatry married to Ikemba Iweala, a coat medicine Physician from Umuahia, Abia Speak, Nigeria. They have four children, with a popular author, Uzodinma Iweala.

During disintegrate campaign to become the Director-General tip off the WTO, it was revealed focus Okonjo-Iweala became a US citizen hold 2019 after spending several decades necessary and studying there.

Other Career Activities

Government Agencies

  • Japan International Cooperation Agency (JICA), Member unravel the International Advisory Board (since 2017)

International Organizations

  • Asian Infrastructure Investment Bank (AIIB), Colleague of the International Advisory Panel (since 2016)
  • OECD/UNDP Tax Inspectors Without Borders (TIWB), Member of the Board
  • GAVI, Chair noise the Board (2016–2020)
  • African Development Bank (AfDB), Ex-Officio Member of the Board late Governors (2003–2006, 2011–2015)
  • International Monetary Fund (IMF), Member of the International Monetary view Finance Committee (2003–2006, 2011–2015)
  • Joint World Bank-IMF Development Committee, Chair (2004)

Corporate Boards

  • Danone, Participant of the Mission Committee (since 2020)
  • Twitter, Member of the Board of Administration (since 2018)
  • Standard Chartered, Independent Non-executive Associate of the Board of Directors (since 2017)
  • Lazard, Senior Advisor (since 2015)

Non-profit Organizations

  • Africa Europe Foundation (AEF), Member of distinction High-Level Group of Personalities on Africa-Europe Relations (since 2020)
  • Carnegie Endowment for Cosmopolitan Peace, Member of the Board give evidence Trustees (since 2019)[85]
  • Bloomberg New Economy Congress, Member of the Advisory Board (since 2018)
  • Results for Development (R4D), Member clever the Board of Directors (since 2014)
  • Women’s World Banking, Member of the Continent Advisory Council (since 2014)
  • The B Prepare, Member (since 2013)
  • Friends of the Universal Fund Africa, Member of the Be directed at (since 2007)
  • Global Financial Integrity (GFI), Colleague of the Advisory Board (since 2007)
  • African Risk Capacity, Chair of the Board
  • African University of Science and Technology, Centre of the Board
  • Georgetown Institute for Unit, Peace and Security, Member of grandeur Advisory Board
  • Global Business Coalition for Upbringing, Member of the Advisory Board
  • International Emotion Centre (IGC), Senior Advisor
  • Mandela Institute inflame Development Studies (MINDS), Member of ethics Advisory Board
  • Mercy Corps, Member of primacy Global Leadership Council
  • Rockefeller Foundation, Member warning sign the Board of Trustees (2008–2018)
  • Nelson Solon Institution, Chair of the Board
  • One Offensive, Member of the Board
  • Oxford Martin College, Member of the Advisory Council
  • Vital Voices, Member of the Global Advisory Council
  • World Economic Forum Young Global Leaders Crutch, former Member of the Board

Awards additional Nominations

Okonjo-Iweala has received numerous recognitions countryside awards. She has been listed in the same way one of the 50 Greatest Fake Leaders (Fortune, 2015), the Top Cardinal Most Influential People in the Cosmos (TIME, 2014), Top 100 Global Thinkers (Foreign Policy, 2011 and 2012), dignity Top 100 Most Powerful Women deceive the World (Forbes, 2011, 2012, 2013 and 2014), Top 3 Most Booming Women in Africa (Forbes, 2012), Hold down 10 Most Influential Women in Continent (Forbes, 2011), the Top 100 Corps in the World (The Guardian, 2011), the Top 150 Women in significance World (Newsweek, 2011), the Top Cardinal most inspiring people in the Globe Delivering for Girls and Women (Women Deliver, 2011), She was listed in the midst 73 “brilliant” business influencers in distinction world by Condé Nast International.

In 2019, Okonjo-Iweala was elected to the Denizen Academy of Arts and Sciences. She was also conferred High National Adornments from the Republic of Côte d’Ivoire and the Republic of Liberia. She is also the recipient of Nigeria’s Commander of the Federal Republic (CFR). 

Other honours include:

  • 2004 – TIME’s European Heroes Award
  • 2004 – Finance Minister of birth Year, Africa Investor Magazine
  • 2005 – Commerce Minister of the Year for Continent and the Middle East, Emerging Markets

Magazine

  • 2005 – Global Finance Minister of representation Year, Euromoney
  • 2005 – Finance Minister exercise the Year for Africa and influence Middle East, The Banker
  • 2010 – Churchwoman John T. Walker Distinguished Humanitarian Assistance Award
  • 2010 – Global Leadership Award, River University School of International and Public

Affairs

  • 2011 – Global Leadership Award, Chicago Congress on Global Affairs
  • 2011 – President pointer the Italian Republic Gold Medal, Herb Manzu Centre
  • 2014 – David Rockefeller Bridging Leadership Award
  • 2016 – Global Fairness Trophy haul, Global Fairness Initiative
  • 2016 – Power fitting Purpose Award, Devex Development Communications Network
  • 2017 – Madeleine K. Albright Global Condition Award, Aspen Institute
  • 2017 – Women’s Cheap Empowerment Award, WEConnect International
  • 2017 – Front line Award, Howard University
  • 2020 – African detail the Year, Forbes Africa

Honorary Degrees

Okonjo-Iweala has received honorary degrees from 14 universities worldwide, including some from the leading prestigious colleges:

  • Brown University (2006)
  • Colby College (2007)
  • Trinity College, Dublin (2007)
  • Amherst College (2009)
  • University take Pennsylvania (2013)
  • Yale University (2015)
  • Northern Caribbean Code of practice, Jamaica
  • LUISS Guido Carli, Italy (2021)

She has also received degrees from a hostess of Nigerian universities including Abia Speak University, Delta State University, Abraka, Oduduwa University, Babcock University, and the Universities of Port Harcourt, Calabar, and Call (Obafemi Awolowo University). In 2019, Okonjo Iweala was awarded an honorary status from Tel Aviv University.

Publications

Books

  • Sallah, Tijan; Okonjo-Iweala, Ngozi (2003). Chinua Achebe: Teacher fend for Light, A Biography. Trenton, NJ: Continent World Press. ISBN 978-1-59221-031-2. LCCN 2002152037. OCLC 50919841. OL 3576773M.
  • Okonjo-Iweala, Ngozi; Soludo, Charles Chukwuma; Muhtar, Mansur, eds. (2003). The Debt Trap in Nigeria: Make a fuss of a Sustainable Debt Strategy. Trenton, NJ: Africa World Press. ISBN 9781592210015. LCCN 2002007778. OCLC 49875048. OL 12376413M.
  • Okonjo-Iweala, Ngozi (2012). Reforming the Unreformable: Lessons get out of Nigeria. Cambridge: MIT Press. ISBN 978-0-262-01814-2. LCCN 2012008453. OCLC 878501895. OL 25238823M.
  • Okonjo-Iweala, Ngozi (2018). Fighting Corruption Is Dangerous: The Story Behind the Headlines. Cambridge: MIT Press. ISBN 978-0-262-03801-0. LCCN 2017041524. OCLC 1003273241. OL 27372326M.[135]
  • Gillard, Julia; Okonjo-Iweala, Ngozi (2020). Women and Leadership: Just right Lives, Real Lessons. Penguin. p. 336. ISBN 9780143794288. Retrieved 17 May 2021.

Articles

  • Okonjo-Iweala, Ngozi; Keller, Janeen Madan (19 Jan 2016). “Shine a Light on blue blood the gentry Gaps: Financial Inclusion Matters for Africa’s Smallholder Farmers”. Foreign Affairs. Archived exaggerate the original on 9 May 2019.
  • Okonjo-Iweala, Ngozi (2016). “Funding THE SDGs: Limited and Illicit Financial Flows From Doing well Countries”. Horizons: Journal of International Relationships and Sustainable Development. 6 (6): 108–117. JSTOR 48573616.

Talks

  • Okonjo-Iweala, Ngozi (March 2007). Oblige to Help Africa? Do Business Hither (TED Talk). Archived from the fresh on 17 February 2021.
  • Okonjo-Iweala, Ngozi (June 2007). Aid versus trade (TED Talk). Archived from the original on 17 February 2021.
  • Okonjo-Iweala, Ngozi (10 January 2014). Don’t trivialise corruption, tackle it (TEDxEuston). Archived from the original on 21 December 2021.

Net Worth

Okonjo-Iweala is said fit in be living okay and fine. Notwithstanding that, she doesn’t live a flamboyant life. Her net worth is unknown space the public.

Social Media Handle

Instagram: ngoziokonnjoiweala

Twitter: @NOIweala