Nigerian emerges first African to head G24 global secretariat

Iyabo Masha, a former member of the Nigerian Presidential Economic Advisory Council (PEAC), has taken office as the Director and head of secretariat of the Intergovernmental Group of Twenty-Four (G24).

Based in Washington, the G24 comprises nations collaborating to coordinate the positions of developing countries on monetary, financial and development matters.

Dr. Masha replaces Marilou Uy, an erstwhile senior adviser of the World Bank and G24’s director of secretariat from 2015 until her recent exit. The new appointee emerged after what the institution called “an extensive recruitment process.”

The new director has broad experience in research, policy and operation on local and international fronts, the G24 said in a press statement.

PREMIUM TIMES understands that Mrs Masha is the first African to hold the position since G24 was founded in 1971. Past Directors have been from either the Asia or Latin American bloc of the membership.

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Her past role in Nigeria, as part of an eight-member presidential advisory committee (PEAC), between 2019 and 2022, centred on advising President Muhammadu Buhari on economic policies. The position allowed her to offer direction on PEAC’s work on global economic impact and policies on macroeconomic and sustainable development.

Mrs Masha is a global economist with a demonstrated history of working in central banking and financial markets, economic management, international lending, finance and development. She has a strong focus on macroeconomic stabilization policy research and implementation.

She worked with the International Monetary Fund beginning 2003. The assignments in more than 10 emerging markets (Asian and African countries) focused on comprehensive economic management, including (i) policy reform advisory services and dialogue with governments (ii) financing and lending programs; (iii) analytic research and economic modelling and forecasting.

Specifically, she helped design for national governments and central banks implementable solutions specific to their circumstances.

She also ensured that key economic and financial policy reforms are focused on fiscal and debt sustainability; foreign reserve adequacy; improving the transmission mechanism of monetary policy; achieving depth, safety and soundness in the financial sector; and managing capital flows.

She worked at Central Bank of Nigeria’s Research Department between 1998 and 2003. She also worked with the World Bank between 1997 and 1998 as well as at the IRIS Centre, the University of Maryland at College Park, as a consultant.

She also served as IMF Representative for Sierra Leone.

Mrs Masha attended the University of Lagos and the American University in Washington and holds a doctorate in Economics.