IMF Chief, Christine Lagarde, Found Guilty in France Trial
Christine Lagarde, the managing director of the International Monetary Fund (IMF), was found guilty yesterday of criminal charges linked to the misuse of public funds during her time as France’s finance minister, a verdict that could force her out of her post, reported the New York Times.
Ms. Lagarde, who began her second five-year term at the IMF in February, faces a fine of up to 15,000 euros, or $15,700, and up to one year in jail.
The scandal has overshadowed her work at the fund, to which she was appointed in 2011, after Dominique Strauss-Kahn resigned as managing director when he was accused of having sexually assaulted a maid in a New York City hotel.
The move is likely to destabilise the IMF while it faces a host of thorny issues, including questions over its participation in a multibillion-dollar bailout for Greece and uncertainty about the United States’ role in the organisation once Donald J. Trump becomes president in January.
The IMF board had also been preparing for a possible conviction with people close to major shareholders, saying that in the absence of a prison term — and with Lagarde
continuing support from the French government — Ms Lagarde would probably be able to stay in her position.
The IMF said in a statement after the verdict that the board, which has met previously to consider the case, was expected to “meet again shortly to consider the most recent developments”. Justice Onnoghen in Limbo The refusal of President Muhammadu Buhari to ensure that Justice Walter Nkanu Onnoghen is appointed the substantive Chief Justice of Nigeria (CJN) is currently generating negative reactions in the polity. Onnoghen was sworn as acting CJN precisely on November 10, 2016 following the retirement of Justice Mahmud Mohammed, who attained the mandatory retirement age of 70. Page 16 Lifeline for Barracks Women and Youths A strong advocate of the saying on teaching a man how to fish instead of giving him fish, the Nigerian Air Force Officers Wives Association (NAWOFA), a body binding together all wives of Air Force officers, recently as they are known to do, extended a hand of fellowship to women and youths in the Nigerian Airforce Logistic Command, Oshodi, Lagos. Page 18 The Minister of State for Petroleum Resources, Dr. Kachikwu Ibe has disclosed how he tactically manoeuvred potential threats to Nigeria’s exemption from the recent crude oil production cap by member countries of the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC. Page 21 A Real Estate Contribution to GDP Declines in Third Quarter of 2016, Says Ajayi The operating environment of 2016 has been a challenging one for the country and businesses, said the Chief Executive Officer of Propertygate Development and Investment Plc., Mr. Adetokunbo Ajayi. Page 28 Nine Dead, 50 Injured as Truck Rams into Christmas Market in Berlin Atruck ran into a Christmas market yesterday evening in a major public square in Berlin, killing nine people and injuring at least 50 others, police said. Page 35 Protesting Footballers Barricade Taraba Govt House The entrance to theTaraba State Government House was yesterday barricaded by players of the state-owned FCTaraba and Taraba Queens over non-payment of 21 months salaries. Page 45 T T