Nigeria’s Finance Minister Resigns

Nigeria’s finance minister, Kemi Adeosun, has resigned following allegations that she used a forged certificate to avoid participating in the country’s mandatory year of youth service, the Financial Times reported. President Muhammadu Buhari accepted her resignation and appointed Zainab Ahmed, minister of state budget and national planning, to oversee the finance ministry in Africa’s largest economy. Ms Adeosun, a former investment banker born and raised in the UK, said in a statement that the claim that she had used a forged exemption document — first reported by online outlet Premium Times — had come as a “shock”. She said that the confusion arose from having only obtained a Nigerian passport at age 34, and having been told that she was exempt from the national youth service scheme because she was over age 30. Ms Adeosun was appointed in 2015 to oversee the ministry just as Nigeria’s economy was hit by the oil price crash. She focused on tax collection and restructuring Nigeria’s debt portfolio, although she was not thought of as particularly influential within the cabinet. Read more. (Subscription required.)