Nigeria's Buhari Picks Ex-Banker Adeosun as Finance Minister

Kemi Adeosun, Nigeria’s Minister of Finance

Nigerian President Muhammadu Buhari appointed former investment banker Kemi Adeosun as finance minister as he swore in his cabinet on Wednesday, more than seven months after he won the election that ushered in the first democratic handover of power in Africa’s biggest economy.

Buhari, 72, selected Adeosun, who was most recently finance commissioner of Ogun state in southwestern Nigeria, to succeed Ngozi Okonjo-Iweala, a former World Bank managing director. Adeosun, 48, takes the job in an oil-dependent country that is suffering from a fall in crude prices in the past year, an economy growing at its slowest pace this decade, and increasing unease among business-people and investors that currency restrictions imposed by the central bank are choking activity.

Read more: Nigeria’s Buhari Picks Ex-Banker Adeosun as Finance Minister – Bloomberg Business