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Tag: Ngozi Okonjo-Iweala

  • N17bn budget controversy: No underhand dealings in 2015 budget, says Rep

    A third term member of the House of  Representatives, Alhaji Tajudeen Yusuf (PDP, Kogi) has faulted former Finance Minister Ngozi Okonjo-Iweala who accused federal legislators of arm-twisting the Jonathan Administration  to ‘pay’ extra N17 billion to get the 2015 budget proposal passed by the National Assembly.

    Yusuf, who was on the National Assembly delegation to a meeting with Okonjo-Iweala on the controversial budget, said the N17 billion was not a bribe but part of NASS’ budget.

    The lawmaker, who spoke in an interview with The Nation,  in Abuja was responding to claims by the former minister  in her book – Fighting Corruption is Dangerous:The Story Behind the Headlines-  that the lawmakers padded the budget proposals for that year with projects to the tune of N17 billion because they “needed money” for that year’s elections.

    She described federal legislators as a tough political group to deal with.

    However, Yusuf said that on the contrary, it was Okonjo-Iweala who “assumed that being the coordinating minister of the economy” she must  “decide how certain things should have been done because of the age long envelope mentality they gave to ministries, department and agencies in Nigeria.”

    The former minister, according to him,  “attempted to give National Assembly an envelope that was rejected.”

    He added: “National Assembly budget for seven years consistently had been N150 billion, while the executive, even CBN, an agency, moved from like N250 billion to like N600 billion, while the National Assembly remained on N150 billion.

    “In that particular year, she reduced it to N113 billion. So, when the budget was brought, National Assembly budget had been reduced to N113 billion. So, National Assembly said it would affect the running of its operations.

    “Don’t forget that 2015 happened to be an election year. It means that when members and aides who would not return were leaving, we would not be able to give them their severance allowance.

    “You’ll  remember  that the challenge of severance allowance was on until maybe early this year because of that reduction.

    “So, the National Assembly now insisted that she could not. It was a battle.

    “Fortunately, oil prices increased, so the benchmark that was brought, I can’t remember now…I think it was around $70, National Assembly now increased it to $72 or $73. That gave a gap of $3 ( three dollars) multiplied by two point something million barrels per day.

    “So, from this, allocation was now remitted to different sectors. We now took N20 billion to augment from N113 billion to N133 billion. Arguments surfaced and it was now reduced from N20 billion to N17 billion.

    “It wasn’t under-the-table. It was the budget of the National Assembly.

    “Those who are conversant or familiar with the National Assembly activities would know that between 2015 and 2017, severance allowance of those who disengaged, especially aides, were not paid because of that shortfall.”

  • Jibrin challenges Okonjo-Iweala over N17b 2015 budget bribery allegation

    Former Chairman, House of Representatives Committees on Finance and Appropriation, Abdullmumini Jibrin has  denied being part of the National Assembly delegation that collected N17b from former President Goodluck Jonathan before the 2015 budget was passed.

    Jibrin, who was suspended and later pardoned by the House over allegation of bringing it into disrepute as a result of his expose of Budget padding challenged the former Finance Minister, Ngozi Okonjo-Iweala to prove her allegation as contained in her book.

    He called for investigation of the allegation by anti corruption agencies.

    READ ALSO: We gave lawmakers N17bn to pass 2015 budget —Okonjo-Iweala

    According to Jibrin in a series of tweets on his  twitter account, that rather than be given the opportunity to offer technical explanation on budget issues, former President Jonathan would back his aides’ position against lawmakers.

    The tweet reads: “My attention has been drawn to media reports from extract of a book- Fighting corruption is dangerous- written by former Finance Minister Dr Ngozi Okonjo Iweala where in she stated that in a tough session with National Assembly’s ad-hoc committee on budget ( made up of chairs of Finance and Appropriation Committee of both chambers and other leaders of National Assembly), 17 billion naira was forced into the budget for election expenses for members of NASS.

    “As Chairman House Committee on Finance during the period in question, I wish to state as follows:

    “I was NEVER part of a meeting where such decision was made. Iam not aware of any 17billion naira introduced in the 2015 budget for election expenses for members of NASS. I did not benefit in any way or form from such a money if at all it ever existed.

    “It is absolutely unfair for the former Minister of finance to make such grievous allegation in a blanket manner. She should have named those that participated at the said meeting and received the money.

    “That will be a higher service to the country and will aide investigation and help establish culpability

    “Budget is not rocket science, the former Finance Minister with her huge institutional memory, documents at her disposal and massive contacts can identify and state specifically where the money was inserted in the budget and how it was implemented in favour of the alleged beneficiaries

    “In all my interactions (including budget matters), oversight and sometimes confrontation with the former Minister of finance, it always centered on issues particularly on the MTEF and economy and most of our activities, engagements and discuss are in the public glare.

    “The toughest of such issue based interaction for me was 2013 MTEF. In one of such meetings at the villa, there was an out burst between myself and the former finance Minister on issues concerning the MTEF.

    “President Jonathan interrupted my presentation, backed his minister and took time to dress me down to the suprise of the NASS delegation. I apologized to him and proceeded with my presentation as if nothing happened. I got a welldone tap on my shoulder from President Jonathan after the meeting.

    “I am by this statement putting up myself before all the anti graft agencies to investigate me and established if I am part of that decision or benefited from its outcome or proceed.

    “We should not take allegations of corruption lightly as such, when allegations of corruption are raised, it must be dealt with decisively”.

  • $500m Abacha loot: Okonjo-Iweala to explain withdrawal

    Former Minister of Finance Ngozi Okonjo-Iweala is to explain how about $250million of the $500million recovered from the family of the late Head of State, Gen.Sani Abacha, was withdrawn, The Nation learnt yesterday.

    The cash was released to the Office of National Security Adviser( ONSA) without appropriation.

    About $36,155,000 (N13,015,800 billion) out of the $250million was also withdrawn in cash “without any purpose” on March 2nd, 9th, 16th and 18th of 2015.

    The Acting Chairman of Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, has approved Mrs Okonjo-Iweala’s invitation. A letter of invitation has been sent to her.

    According to a fact-sheet obtained by The Nation last night, detectives probing the whereabouts  of the $500million have recommended that the ex-minister be interrogated.

    A top source said: “Following preliminary findings, a strong recommendation was made to the Acting EFCC chairman for an interactive session with Dr. Ngozi Okonjo-Iweala.

    “Magu has approved the invitation of the ex-minister. We have dispatched a letter of invitation to her. We are hopeful that she will respond.

    “Her presence is necessary because there were issues about the $250million released especially why $36,155,000(N13,015,800billion) was withdrawn in cash.

    “She needs to assist the EFCC team on what became of the balance  of $250million which was yet to be traced.

    “She has to explain  why some of the funds were diverted to  extraneous matters including media services, opinion polls and personal matters.”

    In another position of the fact-sheet, the Office of the National Security Adviser in a memo on January 12, 2015, requested the former Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala to transfer $300million.

    The memo said: “Please refer to our meeting on recovered funds.  You are please requested to remit the sum of $300m and £5.5m to the following account being ONSA share as agreed.

    In response, Okonjo-Iweala via a memo to ex-President Goodluck Jonathan requested for the release of $300m from Abacha loot to the former National Security Adviser(NSA).

    But only $250million was released to the ex-NSA.

    The memo explained that this is to enable the NSA’s office to purchase ammunition, security and other intelligence equipment for the security agencies in order to enable them confront the ongoing Boko Haram threat.

    “This request is sequel to the meeting you chaired with the committee on use of recovered funds where decision was made that recovered Abacha funds would be split 50-50 between urgent security needs to confront Boko Haram and development needs (including a portion for the Future Generations window of Sovereign Wealth Fund).

    “This letter is to seek your approval to borrow these funds, for now, to disburse to the NSA. These funds form part of projected FG Independent Revenue to be appropriated.

    “In light of this and for accountability, given the peculiar nature of security and intelligence transactions, we would expect the NSA to account to your Excellency for the utilization of the funds.”

    On January 29, 2015, the ex-President responded to the ex-Minister as follows: “CME/HMF, approved.”

    But Okonjo-Iweala had in 2015 insisted that she had no case to answer.

    She said: Former President Jonathan set up a Committee comprising of the former Minister of Justice, former NSA and the former Minister of Finance to determine how best to use both the returned  and expected funds for development.

    • The NSA made a case for using the returned funds for urgent security operations since, he noted, there cannot be any development without peace and security. Based on this, a decision was taken to deploy about $322m for the military operations, while the expected $700m would be applied for development programmes as originally conceived.
    • Following the discussions and based on the urgency of the NSA’s memo, Dr Okonjo-Iweala requested the President to approve the transfer of the requested amount to the NSA’s Office for the specified purposes.
    • But, as captured in the memo, she insisted on three conditions: a. only a part, not the entire Abacha funds would be spent on the arms; the rest would be invested in developmental projects as originally conceived b. the money was to be treated as borrowed funds which would be paid back as soon as possible c. the NSA’s office was to account for the spending to the President who was the Commander in Chief, given the fact that the Minister of Finance is not part of the security architecture and does not participate in the Security Council.
    • The attempt to link the former Minister’s name to any misuse of these funds for any purpose other than security as far as she understood it is totally false and cannot stand.”

    A former Chairman of the EFCC, Mallam Nuhu Ribadu had claimed that Abacha “took over $6 billion from Nigeria.” He also said $2 billion was recovered when he was in charge of the anti-graft agency.

  • Pension scam: Reps summon Okonjo-Iweala, Maina,  Malami, others

    Pension scam: Reps summon Okonjo-Iweala, Maina,  Malami, others

    The House of Representatives has given former Minister of Finance,  Ngozi Okonjo-Iweala four working days to appear before its Committee investigating pension reform.

    The governor of Central Bank of Nigeria (CBN), Godwin Emefiele was also expected to appear before the lawmakers for explanations on the alleged stealing of pension funds in Nigeria.

    The Anayo Nnebe-led ad hoc Committee investigating the activities of the Presidential Task Force on Pensions Reforms from 2010 to the time of its dissolution and any other successor agency said no representation would be allowed.

    Nnebe said all those invited must appear in person.

    Also to appear alongside the former Minister are former Chairman of the defunct Presidential Task Force on Pension Reforms, Abdulraheed Maina, former members of the Task Force, the Secretary to the Government of the Federation (SGF), Boss Mustapha, the Head of Service of the Federation, Winifred Eyo-Ita, former Head of Service, Stephen Orosanye, and the Attorney-General of the Federation (AGF), Abubakar Malami.

    Others are the Inspector General of Police (IGP), Ibrahim Idris, the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and all relevant stakeholders in the pension sector.

    Speaking at the opening of the public hearing Tuesday, Nnebe said the physical appearance of those summoned was purely on an account of accountability and thoroughness, adding that the Committee would not entertain any representation.

    He said: “The issue is very simple. We have heard from PTAD and the Legislative Watch. Former minister, Ngozi Okonjo-Iwela, all the member of the defunct Presidential committee, EFCC, ICPC, Attorney-General, Governor of Central Bank, the IGP, and all the relevant stakeholders are invited by this Committee.

    “On Monday, March 12, 2018, we expect that in the next adjournment, all stakeholders would be here.

    “We have to get to the root of this matter. We cannot conclude this investigation without hearing from the persons involved. We must bring all the culprits to book.”

    While declaring open the hearing, Speaker Yakubu Dogara said the House was forced to embark on the investigation the numerous complaints that trialed the reforming agency considering the significance of pension in the lives of the citizens especially the retirees.

    Represented by the Chief Whip of the House, Pally Iriase, the Speaker recalled that the Presidential Task Force on Pension Reforms was inaugurated on 10th June, 2010, with the mandate to restructure the Head of Service Pension Office, Police Pension office and among others.

    He said: “The Task Force was dissolved in February 2013 after series of allegations of looting of pension fund amounting to N200b which was neither accounted for by neither the Task Force nor the successor agency.

    “Following the great significance of this sector in the lives of our citizens especially the retirees and the receipt of numerous complaints and petitions from relevant stakeholders, it became inevitable for the House of Representatives to set up this Ad-hoc Committee to examine all the facts surrounding the activities of the Presidential Task on Pension Reforms during its existence.

    “The subject of this investigation has had a checkered history and has become very controversial. I understand that the Senate is also conducting investigations on the subject.

    “As a bicameral Legislature our constituents have inundated us with complaints that gave rise to the Resolution of the House. Where possible you should compare notes with the Senate while maintaining the Independence of your investigations.

    “As Members of the Parliament, it is our mandate to represent our people very well, demonstrate transparency and justice to issues that affect the well-being of our people in accordance with the Constitution of the Federal Republic of Nigeria and other related policies”.

    In her presentations, the Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), Sharon Ikeazor said that the Abdulrasheed Maina panel left no significant details for her upon assumption of office.

    She said: “PTAD only inherited liabilities from the task force. We didn’t get anything sufficient from the defunct task force, only liabilities were handed over to the directorate.

    “PTAD is an outfall of the maladministration of the pensions reforms “.

    On his part, the Executive Secretary, Legislative Watch, Ngozika Ihuoma who was also a former member of of the Presidential Task Force however said the task force was still active with its mandate.

    He said Maina was innocent of all the allegations levelled against him, wondering why other government officials were not fingered in the alleged diversion of pension funds, “What of all the other members of the task force and other government officials at the time?

    “Maina was able to help the Federal government   recover N1.3 trillion after a visit to him in Dubai by the Minister of Justice,” he added.

    Read Also: Reps to probe alleged loss of N2bn, $3.8m interests from sale of PHCN

  • Okonjo-Iweala appointed into Commonwealth high-level group

    Nigeria’s former Minister of Finance, Dr Ngozi Okonjo-Iweala, has been appointed into a High Level Group on Governance of the Commonwealth Secretariat.

    Prof. Ben Maloney, Communications Officer, Commonwealth Secretariat, said in a statement that  the High Level Group would make recommendations on governance of the Commonwealth Secretariat.

    The Commonwealth, however, denied that the group was constituted to secretly begin considering who might succeed the Queen as its head.

    “At their last Summit in Malta, Commonwealth heads of government directed the Secretary-General to form the Group.

    “Today members are discussing the scope of the group’s work and the areas of governance it will examine over the coming months.

    “The process is open and the High Level Group reports to the heads.

    “The issue of succession of the Head of the Commonwealth is not part of the Group’s mandate,” the statement said.

    The group is chaired by Anote Tong, former President of Kiribati from 2003 to 2016.

    Okonjo-Iweala, the Coordinating Minister of the Economy during the administration of former President Goodluck Jonathan, is among the seven-member group.

    Others include Lord Howell, former British Energy Secretary; Louise Frechette, former UN Deputy Secretary-General; and Robert Hill, former Australian Defence Minister.

    Dame Miller, former Deputy Prime Minister of Barbados and Dr George Vella, former Foreign Minister of Malta are also members of the group.

    The group operates independently of the London-based Commonwealth Secretariat and would report only to the heads of Commonwealth governments.

    However, further members may be appointed, the Secretariat said.

    The group is expected to report to the Commonwealth Heads of Government Meeting in London in April, which is likely to be the last that the Queen would attend.

    NAN

  • Professional Prophets: can’t they prophesy even the presidential primary winners? With just one known candidate, we are needing some divine leading

    Professional Prophets: can’t they prophesy even the presidential primary winners? With just one known candidate, we are needing some divine leading

    Recall that even with all the lies of former Finance Minister and World Bank official Ngozi Okonjo Iweala, Nigeria still slumped into recession – just like all the economists that the then-government refused to listen to, had warned. So where were the Prophets?

    True to type, OBJ handed his ‘parcel bomb’ to the mass media, and not the horse rider!  In 2013, former President Obansanjo OBJ released his open letter to then President Goodluck Jonathan titled ‘Before It Is Too Late’.  The gist of the letter was don’t you put yourself forward for another term in office; quit now.

    A check shows that ever since he left office in 1979 as military head of state nobody has sat as president without receiving an Obasanjo ‘red card’.  They come either as open letters in the media or they are timed, then delivered at public lectures, something at which OBJ is heavily in demand and so strikes from that platform.

    What is irritating today is that we are in the second month of 2018; we have just 10 months to presidential primaries and only 1 year to general elections – why are our professional prophets keeping silent?

    AREN’T THEY HEARING ANYTHING ALL FROM GOD?!

    These OBJ letters I mention as the unnerving case in point.  Though OBJ tagged his latest offering (The Way Out) a special statement, it was as predictable as night precedes day.

    OBJ didn’t even go to meet the ‘horse rider’ that he loudly advised to honourably dismount, return home and rest.  Meanwhile unlike the very next Nigerian President OBJ has unfettered access to Aso Rock Villa in fact privately I have crowned him Nigeria’s highest political pilgrim to Aso Rock Villa.  But, typical of him he handed his dispatch only to the press.  (Last time, he had said that Dr. Goodluck Jonathan had failed to pick his 5 calls.  So what was the obstacle in this instance?!).  This column did prophesy boldly early in January that:  OBJ does NOT like President Buhari at all.

    No, not one of OBJs letters to presidents is every for a sitting president but for the public. As a matter of fact, coming 3 years into an administration and 1 year to election THE LETTER IS EVEN LATE – don’t our seers see anything?!

    Calling himself ‘The Voice of Caution’, OBJ’s letter bomb is such that the aftershocks are reverberating continually. Hear some other writers –  Snooping Around says “OBJ struck at the appointed hour in a landmark bombshell which shook every corner of the land”.

    Levi Obijiofor put it even more bluntly when he said (What Does Obasanjo Want) that ‘OBJ’s criticism of Buhari’s government has divided the nation’.  Some other writers have promised to tackle the subject serially; and even my ½ page is swamped with reader’s reactions to that OBJ letter, inspite of all the reactions I featured last week!

    I believe heaven, probably even hell knows the extent of the heat.  OBJ’s missive has generated locally and nationally, yet no prophet predicted this fire.

    Come to think of it, neither did they prophesy the January 1st Benue Massacre or even the demise and burial this week of a one-time Vice President.  So what are they revealing to us for goodness sake?

    Recall that even with all the lies of former Finance Minister and World Bank official Ngozi Okonjo Iweala, Nigeria still slumped into recession – just like all the economists that the then-government refused to listen to, had warned.

    So ‘seeing’ this – couldn’t these professional prophets have PROPHESIED Recession, so that some pre-emptive measures could have been put in place?  Joseph the Dreamer in the Bible told Pharaoh then what was coming ahead – and ended up saving not just Egypt, but the whole Middle – Eastern region!

    This pre-election period has come at perilous times, and once again our prophets are silent: with all our religiosity, won’t our prophets speak now?

    Let me now ‘prophesy’ that in the first place this OBJ letter, The Way Out, is all about the 2019 presidency and who should NOT contest (Buhari, OBJ says) – or does he mean The Way Out of Nigeria?? Of course Not!  This column did ‘prophecy’ boldly, early in January that: OBJ does not like President Buhari at all.

    I now understand what Majek Fashek, the time he was still a Rainmaker meant when he sang a song Religion  Na Politics (Religion is Politics).

    Mr. Solomon Dalung, before he was made current Sports Minister had said that from around 2003 our politics changed from issues to Religion.  He said this at one of the presidential rallies, pre-2015 general elections.

    And nature abhors a vacuum like I said in January 2017 (The Princess Files, 2017 Great Prophecies Unveiled).  No wonder now Charley Boy released his own 2018 prophecies in January.  It’s a serious thing – Religion na Politics!

    I will simply refer to my 2017 ‘prophecies’, to let you know what is still obtainable.

    Out of 3 that I ‘prophesied’ against going for a shot at the presidency in 2019, one has passed away.

    Governorship – I told Mr. Peter Obafemi that 2019 would not be worth it.  I also did warn Chief Mrs. Remi Adiukwu Bakare-Adiukwu, even in these words To Give Up on Politics before Politics gives up on Her.

    I said this after she had contested the Lagos governorship on nearly all registered political parties in the country!  Sadly, she ignored my prophesy and went ahead to contest the December PDP national deputy women leader position (a carved out post, something like: let’s create this powerless position so that there’s one more woman in the Exco, before all the women begin grumbling!).  It is the lowliest of the low among the executives – still Mrs. Adiukwu lost woefully, roundly defeated by one ‘small girl’, in PDP!

    Well, I ‘prophesy’ here that OBJ already has his choice, of stooge candidate!  But… most prophetically and of direct relevance, The Princess Files, writing on OBJ said in bold print 2 weeks into the new year BEFORE this OBJ special statement release, I had said: Love The Message, Not the Messenger .  Today, that is the recurrent theme, nationwide. Now I say Prophets: Prophesy – tell us who will win the Osun State Governorship elections.  Okay, I will even narrow it down – who will win the major party primaries in Osun and Ekiti coming up very soon – or I might have to prophesy it myself!

    We are really needing some divine leading.  May I tell you reader, people contact my line ALL the time (severally even this week) – they tell me how God said they should tell me how great I will be etc, I should come see them for more revelations etc.  Okay, Oh ye Prophets, JUST TELL ME WHO GOD TOLD YOU WILL CONTEST the 2019 presidential elections! Right now only one person, Ekiti Governor Ayo Fayose has declared – not even President Buhari (who is being warned not to) has declared intent!

    Seriously now, Prophets, how about telling… WHO WINS?  You know, it’s reaching the point I will be listening to hear from (if he’s still speaking): Sat Guru Maharaji!

    • 07055547031 SMS/Whatspp

     

  • States should have more opportunities to develop themselve – Osinbajo.

    States should have more opportunities to develop themselve – Osinbajo.

    Vice-President Yemi Osinbajo on Friday declared his stand on the raging issue of restructuring of Nigeria, saying that he fully agreed that “states should have more opportunities to develop themselves’’.

    Osinbajo was speaking at a crowded Lagos conference, tagged: “Towards a Better Nigeria,’’ organised by leading Nigerian pastors.

    He, however, did not elaborate on his statement on restructuring but recalled that the ruling APC party had two years ago talked about standing for devolution of powers.

    “The APC manifesto in 2015 talked about devolution of powers and Nigeria may do more work to ensure that states are generating more income and people are paying more taxes.’’

    Osinbajo identified corruption, tribalism and religion as the key problems hampering Nigeria’s development, decrying the failure of Christian leaders in Nigeria to chart an agenda that would help to rid the country of vices.
    “The key to development in Nigeria is the church. It is the church that will begin the process of unity by uniting itself first.

    “What Nigeria needs is already written in the gospel of Jesus Christ.”

    Osinbajo said that to build a new Nigeria, “we need people of integrity, hard work and people with love for the country.

    “It is this tribe that can configure the argument for change in Nigeria. The corrupt Nigerian elites are one tribe.

    “In sharing their loot, they neither bring in ethnicity nor religion but only use such to create misunderstandings that will benefit themselves.

    “The reason Nigeria is where it is today is because people do not really care. It is time people should stand up for what is right and join the fight against corruption.

    “Corruption has become the rule in Nigeria and this must stop. It did not start with this administration and it is yet to stop.

    On the Fulani herdsmen palaver, the vice-president said that “contrary to opinions that it began because the president is Fulani, in 1996, there were issues between herdsmen and some communities in Gombe.

    “This issue has been on through the years. Giving the impression that it is a phenomenon because a Fulani man is president is wrong.

    “Even in 2014, there were reported herdsmen issues in Nigeria.”

    On alleged lop-sided appointments in the country, Osinbajo said it was time that Nigerians begun to look at merit rather than tribe or religion.

    “It is easy to say that appointments are lop-sided if one set of appointments come or that it is not balanced. It is on record that Ogun State has the highest number of heads of agencies and parastatals in Nigeria, followed by Imo.

    “Borno, Sokoto and Yobe States that voted heavily for the APC in the 2015 presidential election do not have a senior minister in the administration.

    “Most people, who think that the north is favoured or better because the president is from there will have a re-think when they visit northern Nigeria.

    “The north is the poorest part of Nigeria in every way. There are over 2.3 million displaced people. The north is ravaged by diseases and Boko Haram.

    “Many people’s perception will change if they visited the north.’’
    On the Ibrahim Magu controversy, the vice-president said that Magu remained a competent man, saying: “we must insist on merit even when many do not believe in that.

    “We are never going to get this country to where we want it to be. In football, we don’t ask where we come from because we want to win.

    “It is only in Nigeria that we look for state quotas first instead of merit.”

    Commenting on an alleged plan by the present administration to start taxing churches, Osinbajo said that a bill on the issue was sponsored by some civil society groups.

    “The bill is currently being debated in the National Assembly. There is no plan by the government to get churches to pay tax.’’

    On the Islamic Development Bank, he explained that Nigeria did not become a member of the bank during the present administration.

    “Buhari does not own the bank. Nigeria became a member in 2008. The first and present directors of the bank are Ngozi Okonjo-Iweala and Kemi Adeosun and they are Christians.

    “Nigeria is just a shareholder and like any business we make use of the profit we get from there.”

    On IPOB and Operation Python Dance, Osinbajo explained that everything done was geared towards safeguarding the unity of Nigeria.

    “If we begin to have reprisal attacks in Nigeria, we may be facing war. We must be careful to avoid the hostilities degenerating,” he said.

    Also speaking, Bishop Mike Okonkwo of the Redeemed Evangelical Mission, advised churches in Nigeria to embark on human capital development.

    He said that it was time for the church to change its perspective on issues of governance and contribute their quota to nation building.

    The News Agency of Nigeria (NAN) reports that the conference was convened by Pastor Yomi Kasali of the Greater Nigeria Pastors Conference.

    Over 1,000 pastors from across the country attended the event.

  • N17billion: Reps summon Adeosun, Okonjo-Iweala, others

    N17billion: Reps summon Adeosun, Okonjo-Iweala, others

    Finance Minister Mrs. Kemi Adeosun and her predecessor, Ngozi Okonjo-Iweala, have been summoned to appear before the House of Representatives over alleged abuse and breach of the Procurement Act, 2007.

    The House Committee on Public Procurement, which invited the ministers, directed that they should appear before it today.

    Others expected to appear before the committee are: former Head of Service (HoS) Mr. Steve Otunla and former Accountant-General to the Federation (AGF) Mr. Jonah Otunla.

    The committee had on Thursday summoned Adeosun and some others over alleged payment of N17 billion to five firms believed to be ghost companies as consultancy fees.

    The committee, in an investigative hearing yesterday in Abuja, said that summoning the top officials was to ensure proper investigation. (more…)

  • Violation of Procurement Act: Adeosun, Okonjo-Iweala, others to appear before Reps

    Violation of Procurement Act: Adeosun, Okonjo-Iweala, others to appear before Reps

    Finance Minister, Mrs Kemi Adeosun and her predecessor, Ngozi Okonjo-Iweala, have been summoned to appear before the House of Representatives over alleged abuse and breach of the Procurement Act, 2007.

    The house’s Committee on Public Procurement, which invited the ministers, directed that they should appear before it on Tuesday.

    Others expected to appear before the committee are former Head of Service (HoS), Mr Steve Otunla and former Accountant-General to the Federation (AoGF), Mr Jonah Otunla.

    The committee had on Thursday summoned Adeosun and some others over alleged payment of N17 billion to five firms believed to be ghost companies as consultancy fees.

    The committee in an investigative hearing on Monday in Abuja said that summoning the top officials was to ensure proper investigation.

    Chairman of the Committee, Rep. Oluwole Oke (Osun-PDP), who issued the order inviting the officials, read the Riot Act to all Ministers and Accounting Officers of Ministries, Departments and Agencies (MDAs).

    He said “the shortest way to Kuje prison is through breach of procurement laws.”

    Worried at the slow pace of the investigative hearing due to the poor attitude of civil servants towards releasing of vital documents, the committee attended to only those who made available necessary documents.

    The members decried the discrepancies between the submissions made by Federal Ministry of Finance and Central Bank of Nigeria (CBN).

    They observed that out of the 12 pre-shipment Inspectors and two monitors, who benefited from the N17 billion, seven were appointed in line with due process while five were appointed through the back door.

    Oke call for overhaul of the entire process.

    He pointed out that a former governor of Bauchi State and a former member of the House of Representatives, who were part of those who promulgated the procurement law were sentenced to five years imprisonment for infractions.

    He added that a former Chairman of Nigeria Ports Authority (NPA) was also sentenced to two years imprisonment for breaching the Procurement Act “before the Supreme Court intervened’’.

    The chairman advised the invited stakeholders to bring before the committee Presidential Approvals, Letters of Awards, Agreements signed with the contractors and performance records.

     

  • Okonjo-Iweala and states’ unpaid salaries

    Okonjo-Iweala and states’ unpaid salaries

    No one is certain what the Minister of Finance, Ngozi Okonjo-Iweala, hoped to achieve when she explained why some states were unable to pay workers’ salaries when they fell due. The federal government, she said happily, was not owing its workers, contrary to speculations in some quarters. But states which owed their workers, she added, disregarded advice offered through the Federation Accounts Allocation Committee to prioritise salary payments. According to the minister: “Regarding difficulties in salary payments, certain governors are trying to blame the Federal Government for their predicament. This is wrong. They had been told through the FAAC to prioritise salaries but they chose not to do so, hence the backlog that some states are experiencing. The 50 per cent drop in revenues simply means that salaries should be prioritised. The Federal Government should not be blamed for avoidable mistakes made at the state level.”

    Dr Okonjo-Iweala’s explanation is patronising and tendentious. Was it simply the drop in revenues that accounted for the cash crunch Nigeria is facing? Many analysts suggest that there are other reasons for Nigeria’s financial woes. Some of these are: humongous waste of national resources, intolerable mismanagement of what is not frittered away, and unpardonable corruption, including unlawful election spending and bizarre and indefensible fuel subsidy payments. The minister of course cannot offer any explanation for these. She assumed it was enough that a cash crunch problem already existed, which states should take for granted and mitigate by forsaking all other priorities. One way the federal government has done its own mitigation is to suspend capital budget disbursement since the beginning of the year, the minister said, without bothering to understand whether states would find that option sensible, tolerable or even practicable.

    More importantly, the minister also disclosed that the federal government had had to borrow about N473bn to fund recurrent expenditure, including salaries and overheads, a sum estimated to be a little less than half of the N882bn budgeted for borrowing in 2015. At that rate of borrowing, what are the guarantees that budgetary projections would not be exceeded? And if the federal government had access to such huge borrowings, do states have the same or near half that luxury? Clearly, Dr Okonjo-Iweala’s recipe is not so inspiring. What is at stake here is the reputation of the federal government’s financial managers. While states could have done much better than they have done to lessen the problem of the cash crunch on their people, the federal government has not placed the country on financial ‘war footing’ partly because their laxity has brought the country nearly to its knees.

    The incoming president, Muhammadu Buhari, has his work cut out for him. The economy is prostrate, not simply because of the about 50 percent drop in revenues, as the Finance minister casually said, but largely because of the mismanagement of the economy. The federal government, despite patronising militants to the detriment of the security agencies, has not been able to put a lid on large scale stealing of crude oil, nor on the appalling abuse rampant in the downstream sector. In addition, the federal government has woefully failed to curb its extravagant spending habit. Nigerians know it, despite the government’s best efforts to disguise the catastrophe, and the world also knows it, for they are deeply astounded by the Nigerian government’s poor financial management, policy miscarriage, and general indiscipline. Revenues may have dropped by more than a trillion naira, but the real and bigger problems lie outside oil market volatility.

    Dr Okonjo-Iweala should keep her gratuitous advice to herself. It is obvious that had President Goodluck Jonathan won reelection, as she hoped, many of the country’s assets would have been sold. She alluded to that option in proffering a solution to Nigeria’s cash crunch. On assuming office, Gen Buhari will have to examine all the options available to his government before making a choice. No one expects the current subsidy regime to be maintained. And it is likely some national assets will not be left untouched. But above everything, there will be a number of inquiries into what went wrong in order to have an understanding of how the country came to this horrific pass. It is only after that has been done, and blames apportioned, and punishment meted out, that the public will support the belt-tightening measures the new president will probably place before the country. And to think starry-eyed states creation campaigners hungered for a few more states, a condition upon which they based their support for Dr Jonathan.