News
Okonjo-Iweala alleges her life was threatened during oil subsidy scam
Director General of the World Trade Organisation, Ngozi Okonjo-Iweala, has said her life was threatened for saving Nigeria huge sums of money from oil subsidy scam while serving as the country’s finance minister.
Okonjo-Iweala served as finance minister under the administrations of former Presidents Olusegun Obasanjo and Goodluck Jonathan.
Speaking during an interview organised by Atlantic Council, a United States think-tank on international affairs, on Tuesday, the WTO DG said her life was threatened for doing her job.
Okonjo-Iweala said during Obasanjo’s administration, she worked to ensure renegotiation of Nigeria’s debt in the international community.
She said Nigeria was indebted to the tune of $30 billion to the Paris Club with a debt service of $2 billion a year, of which the country could only pay $1 billion.
The former minister said the country’s debt was later systematised with the help of good reforms.
During the period, Paris Club reached an agreement to grant relief of about $18 billion (60 percent) on the $30 billion owed, which lowered Nigeria’s external debt from $35.94 billion in 2004 to $20.48 billion in 2005.
During Jonathan’s administration, Okonjo-Iweala said her effort was directed at tackling corruption and improving the financial system with the use of technology.
“And just by having an integrated financial management system, we were able to cut down on the phenomenon of ghost workers, you know where people used to put additional people on the payroll in the ministries, ghost pensioners, because ghost workers will graduate to ghost pensioners, and so we got rid of that and saved $1.1 billion for the government,” she said.
“So that is, we were fighting other types of corruption. We had an oil subsidy system in which we used to pay marketers.
“Oil marketers who brought in refined oil, you know, we paid them the difference between the market price, and the subsidised price that the government was mandated for selling oil to people.
“And so, that was when I came the second time. This was a big problem. When I left government the first time in 2006, these subsidies were about $2 billion, when I came back, the first thing we noticed was that it had grown to $11 billion.
“So, I asked President Jonathan that we could audit the oil accounts which he fully supported. When we audited, $8.5 billion of the accounts, we found $2.5 billion of fraudulent claims and with his backing, we refused to pay that to the marketers and that led to a series of problems, which I won’t bore you with, including threats to my life.
“My mother being kidnapped for five days was one of the worst periods of my life and it was a very tough period.
“But, that being said, I think the privilege of serving my country as finance minister for several years, to being able to work on some reforms is one of the best things I’ve ever done.”
News
Tinubu jets out to France on three-day visit
Tinubu jets out to France on three-day visit
President Bola Tinubu will travel to France today (Wednesday) for a three-day state visit at the instance of the French president.
A statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, confirmed this.
It said, “The Nigerian leader’s three-day visit, which will focus on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, promises significant benefits for Nigeria.”
Onanuga said Tinubu and Macron would harmonise positions on stimulating more interest in exchange programmes that focus on skill development for youths and improving their competencies in automation, entrepreneurship, innovation, and leadership.
“Both leaders will participate in political and diplomatic meetings highlighting shared values on finance, solid minerals, trade and investments, and communication,” he added.
“They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development.”
The presidential adviser stated that the Nigerian first lady and her French counterpart would discuss solutions for empowering women, children, and the most vulnerable through the Renewed Hope initiative.
News
Yahaya Bello reports to EFCC office with lawyers
Yahaya Bello reports to EFCC office with lawyers
A former Governor of Kogi State, Yahaya Bello, on Tuesday visited the Economic and Financial Crimes Commission (EFCC) to honour another invitation extended to him over alleged misappropriation of funds.
Bello went to the anti-graft office with his lawyers in the morning.
The ex-Kogi governor reportedly drove himself to the EFCC’s office in a black Toyota Hilux van with some lawyers.
He was said to have been taken by some operatives of the agency and are currently being grilled.
This is coming after the Supreme Court judgment which dismissed a suit brought by some state governments challenging the constitutionality of the agency.
The EFCC at the last hearing on November 14, sought the adjournment till November 27 in the fresh case it instituted against Bello.
It stated that the 30-day window was still running for the summons earlier issued.
News
Just in: Ebonyi governor suspends two commissioners, Perm Sec for misconduct
Just in: Ebonyi governor suspends two commissioners, Perm Sec for misconduct
Ebonyi State Governor Francis Nwifuru has announced the immediate suspension of two commissioners with a permanent secretary among others for gross misconduct.
Those suspended are the Commissioner for Housing and Urban Development Francis Ori, and the Commissioner for Health, Moses Ekuma, with the Permanent Secretary of the Ministry of Health.
The suspension followed an incident on Saturday night, when the governor reportedly visited the Ministry of Health’s premises and was said to have found six officials diverting government materials.
Others suspended for three months are the Executive Secretaries of the State Primary Healthcare Development Agency and the Ebonyi State Health Insurance Agency
The suspension order was announced by the state Commissioner for Information, Jude Okpor, who cited alleged misconduct and dereliction of duties as the reasons for the disciplinary actions.
Okpor made the disclosure on Tuesday during a press briefing on the outcomes of the State Executive Council meeting held on Monday at the New Government House in Abakaliki, the state capital.
“Following cases of gross misconduct and dereliction of duties by some government officials and matters related thereto, the Chairman of Council directed the indefinite suspension of the Honourable Commissioner for Housing and Urban Development and three months suspension of the Honourable Commissioner for Health, respectively
“In view of the development, the Special Assistant to the Governor on Primary Health was directed to take charge of the ministry in the absence of the suspended commissioner.
Governor Nwifuru directed the suspended government officials to hand over all government properties in their possession including vehicles to the Secretary to the State Government.
-
metro1 day agoBREAKING: Port Harcourt refinery begins operation
-
Business3 days agoJust in: Dangote refinery reduces petrol price for marketers
-
metro2 days ago40-foot container falls on car in Lagos
-
Politics2 days agoLagos 2027: Seyi Tinubu campaign team releases his life documentary
-
International2 days agoTrump to sack 15,000 transgender officers from U.S. military: Report
-
Education17 hours agoUS University opens 2025 scholarships for international students
-
Entertainment2 days agoPolygamy best form of marriage for Africa – Okey Bakassi
-
Sports19 hours agoFrench football star, Paul Pogba’s blackmail trial begin in Paris