Shell Nigeria Yudala
Okonjo-Iweala dismisses allegations of illegal diversion of Abacha funds

By News Express on 10/12/2015

Share on facebook Yahoo mail icon Gmail icon

Views: 940


Former Minister of Finance, Dr Ngozi Okonjo-Iweala, has dismissed as baseless, allegations of illegal diversion of Abacha funds under her watch. She described reports in this regard “as part of the campaign of falsehood” against her “by Edo Governor, Adams Oshiomhole and other powerful and corrupt interests.”

“To achieve their evil propaganda objective of tarnishing her name, these evil elements have distorted the contents of a memo dated January 20, 2015 in which the former Minister of Finance, Dr Ngozi Okonjo-Iweala responded to a request by the former National Security Adviser, Col Ibrahim Dasuki (retired) for funds to prosecute the terror war against Boko Haram,” her Media Adviser Paul C Nwabuikwu said.

Nwabuikwu in a statement in Abuja gave the facts as follows:

•The central responsibility of the Minister of Finance IS to find sources of funding for the financing of approved national priorities such as security, job creation and infrastructure.

•It will be recalled that throughout 2014, there were public complaints by the military hierarchy to President Goodluck Jonathan about the inadequacy of funds to fight the anti-terror war in the North East, resulting in Boko Haram making gains and even taking territories.  A lot of the criticism was directed at the Federal Ministry of Finance under Dr Okonjo-Iweala which was accused of not doing enough to find funds for the operations.

•In fact, the Ministry, on several occasions, had to call press conferences to provide details of budgetary spending on the military, to show, against the background of limited resources and other urgent national priorities, that it was doing its best on funding security.

•It was about this time that some new Abacha funds of about $322m were returned with another $700m still expected to be returned. (This is not to be confused with the Abacha funds returned in 2005-2006 under the Obasanjo government whose use for developmental purposes was monitored by the World Bank as earlier explained by Dr Okonjo-Iweala). 

•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. 

•Photo shows Okonjo-Iweala.

Source News Express

Posted 10/12/2015 2:32:50 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
Lagos Govt. approves funding for MSMEs

Oshiomhole emerges new South-South Gov Forum Chairman

FG to cut cost of crude production

Philippines President names 157 politicians, judges and security...

Cloudy/hazy morning to give way to thunderstorms, sunny...

Magu: SERAP drags Senate to the United Nations...

Dogara proposes list of principal officers to APC...

Nigeria joins Islamic coalition against terror

Africa’s biggest Jesus statue unveiled in Nigeria

Anambra launches free de-worming programme

The other side of President Buhari Nigerians don’t...

Anglican Primate worried over killings, tasks govt. on...

 

Latest News Magu, Hameed Ali: Senate draws first blood; refuses to confirm RECs nominated by Buhari Buhari backs out of Sambisa trip Boko Haram kidnaps 10 in Borno community Teenage Boko Haram member forced to kill 13 people Famine, drought, war threaten millions of children in northeast Nigeria, Somalia, South Sudan and Yemen: UNICEF Ogun mobilises contractors back to site 2017 Budget Report: Dogara gives committees deadline Food Poisoning: Cross River Govt. vows to prosecute culprits Drama, as Dino Melaye wears academic gown to Senate plenary Ali versus Senate: The way forward, By Bernard Balogun Oyo Govt. sets up Agency for Planning, Development Control Borno declares Dec. 22 public holiday to mark recapture of Sambisa forest from terrorists

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (235,252 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (213,719 views) Shameless Genevieve Nnaji exposes breasts in public (177,671 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (162,077 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (151,089 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (133,455 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (116,716 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (115,715 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (103,307 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (100,385 views) Lagos plane crash: Journalist releases victims’ names (98,827 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (93,479 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,498) Business Verdict (14) Columnists (656) Complaints & Requests (82) Enterprise & Opportunities (143) Entertainment (293) Features (411) Global Business Monitor (144) International (1,314) Interviews (116) Live Commentary (28) Love Matters (49) News (22,785) Opinion (666) Pidgin (8) Politics (3,628) Religion (493) Sports (1,246) Stock Watch (15) AMA & Al Jazeera Global Update

 

 

JAMB Sale of 2016/2017 UTME/DE applications

 

CBN Advert

 

Mohammed Anas thanks 'wife and girlfriend' (full interview)

 

APO Newsbreak logo

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!