Nigerian-born Wally Adeyemo, a former deputy national security advisor and current president of the Obama Foundation non-profit, has been appointed formally as deputy Treasury secretary by the US President-elect Joe Biden on Monday.
Adeyemo was born in Nigeria and raised in Los Angeles County, California.
He earned a Bachelor of Arts from the University of California, Berkeley and Juris Doctor from Yale Law School.
Also, Biden appointed ex-Federal Reserve chair Janet Yellen to lead the Treasury, as he named officials to try to revitalize the world’s largest economy. The United States is struggling with a massive Covid-19 outbreak that’s caused tens of millions of layoffs while sharply slowing annualized growth, and with cases surging again and Congress deadlocked over more aid. If confirmed by the Senate, Yellen, 74, will be the first female Treasury head in its history, and likely be tasked with breaking the deadlock over aid in Washington, should lawmakers not come to an agreement before Biden’s January inauguration. While Adeyemo would be the first African American to occupy the deputy Treasury secretary position in the United States.
“We face great challenges as a country right now. To recover, we must restore the American dream — a society where each person can rise to their potential and dream even bigger for their children,” Yellen tweeted. “As Treasury Secretary, I will work every day towards rebuilding that dream for all.”
Other officials announced on Monday include veterans of former president Barack Obama’s administration, several of which the Biden transition team noted would break racial barriers in their positions. “As we get to work to control the virus, this is the team that will deliver immediate economic relief for the American people during this economic crisis and help us build our economy back better than ever,” Biden said in a statement.
According to a tweet by the Chairma of Nigerians in Diaspora Commission, Hon. Abike Dabiri-Erewa on Twitter earlier today, she also confirmed the development.
“It’s official! Wale Adeyemo becomes the first ever Nigerian American Deputy Secretary of the US Treasury, in the history of the country! Congrats to Wale #ProuldyNigerian,” she tweeted.