Date Published: 09/08/11

Why Okonjo-Iweala was sacked by Obasanjo

Fresh facts have emerged as to why current finance minister, Dr Ngozi Okonjo Iweala was fired by former President Olusegun Obasanjo.

Okonjo-Iweala who was top shot at the World Bank but  returned  to assume duties as substantive finance  minister under President Goodluck Jonathan,  was curiously  removed by Obasanjo as finance minister and redeployed to the foreign Affairs ministry for undisclosed reasons.

She is currently tagged the " supervisory " minister by President Goodluck Jonathan, a title that has  put permanent frowns on the faces of her colleagues who feel the elevation was unnecessary.

Okonjo-Iweala  negotiated a landmark deal in which the Paris Club of rich sovereign creditors wrote off USD 18 billion of debt Africa's largest debt cancellation. Nigeria then usedwindfall earnings from oil exports to pay off another USD 12 billion in debts and arrears.

However the figure of $34 billion in foreign put forward in 2006 by her office and that of the former Governor of Central Bank, Charles Soludo was disputed by Senator Farouk Bello Munza who maintained that the figure was about $9 billion.

Shortly after she was removed as minister, Obasanjo relieved her as chairman of his economic think tank.   

But in a chat  with Pointblanknews.com in Abuja, former presidential candidate for the Peoples Mandate Party (PMP), Dr Batos Nwadike insisted Obasanjo fired Okonjo- Iweala  because of the debt buy back deal. He said further that even though the deal appeared legitimate, there were some moral questions that cast doubt on the intentions of the former minister .

According him, even though Obasanjo saw her as the one with the magic wand, the former President was upset when he discovered went happened in the back room.

Nwadike maintained that Obasanjo discovered that the firm that brokered the $12  Billion debt buy back deal had links with Okonjo Iweala . He alleged that ex minister's  sibling was a a top official of the firm, which got about $2 Billion as commission from the deal.



He said " Why was she removed. Of course there was a commission in that deal. There was a company that facilitated the deal, and of course people know the owners of the company. This woman had collected her salaries in dollars. About $2billion was paid as commission to the company that facilitated that debt buy back. The company is owned by her siblings, it's not a secret no more.If you check the records of the Paris Club and World Bank you will find the owners."

Nwadike who took shots at the proposed six year single tenure  continued "  Some can say it was legitimate, but I don't think so. I think it smacks of corruption. One of the magic wand she came with was to pay back the debt arguing that we were paying so much in interest , therefore okay to just pay back. President Obasanjo bought into it, and decided tom pay back. Was not strategic to pay all back.Her siblings are part owners of the the company that brokered the deal. Of course something must have accrued to her."

The former presidential candidate who also condemned the sacking of the former President  of the Court of  Appeal, Justice Ayo Salamai, said " Obasanjo got angry because the way he celebrated her was amazing because he believed she had the magic wand. Why was she reassigned. Obasanjo got pissed off when he smelt corruption, no need changing his winning team. She was winning by paying back. It was celebrated. So why the sudden change of mind. he will tell us someday, and I will vindicated . When  She was removed as chairman of the economic  team , she left. Knew the game was up. She benefited from the deal, and Obasanjo found out, they got 10 per cent. "

http://www.pointblanknews.com/News/os5512.html

We all know the woman hustled Nigeria with that deal and got paid.

Utter nonsense!

Another hatchet job, by Buhari apologist, and sore losers. 

naijaaaaaaaaa !!!!!!
no wonder the country continues to sink.When money remains looted,how on earth would it work then.

Soooo

What is wrong with her (Okonjo-Iweala) cousin or brother owning part of the company that negotiated the deal if they are the most competent to negotiate the pay back for Nigeria.

I don't believe this story. The version of the story I heard is that madam Okonjo-Iweala criticized the use of money from excess crude account (expensed under many fictitious expense heads) to finance OBJ's 3rd term bid and her feud with then Minister of State for Finance - Nenadi Usman which OBJ tried unsuccessfully to resolve.

haka_nai:

naijaaaaaaaaa !!!!!!
no wonder the country continues to sink.When money remains looted,how on earth would it work then.

How is this a loot The company irrespective of who is behind it worked for Nigerian and got paid for it. Is this your own definition of loot?

This is a distraction and defamation of the character of Mrs Okonjo-Iweala.

OBJ the biggest looter in African history, has audacity to accuse someone else of corruption?

The man is not only the biggest thief he is also the biggest hypocrite

The same corrupt politicians who were threatning her life  not to come back to take up the finance minister are at it again.Trust these corrupt politicians they will not rest until they see the woman go.The same politicians who feel aggrieved by the president pronouncement that if you disobey the woman you will be fired.I am not surprised at all.

Some m0ron just make silly statements to get noticed.
The fact that Dr Batos Nwadike was not noticed in the Nigerian politics does not mean that he should run others down.
His claims are bunch of lies.
However, the woman brought her wealth of experience which saved Nigeria's economy from lots of external debt. If she gets commission of $2bn from her deal. What are we talking about?
What about those who steal what they never worked for?
Iweala was never sacked. She resigned.

PointB:

Another hatchet job, by Buhari apologist, and sore losers. 

you don't have to display your ignorance publicly, this man actually stepped down for GEJ before the elections

@op,
It very obvious that these are fabricated lies from haters.

OP
Do you believe this sh.it?

Be informed that some politicians who do not want the madam because of her anti-corruption stance will go to any length to tarnish her image. All should be wary of these politicians in order not fall easy prey to their manipulations.

My stance is that the madam should be supported by the great members of this Forum to carry out her anti-corruption campaign.

I now understand that all these sore loosers are just not at rest yet. How can someone said Iweala was sacked because of corruption? Please is it OBJ who said it or where is the source and proof of this thread?

I gues so many dont think and ask themselves a commonsense question before posting anything. This is just a nonsense post and am sure it all the work of political failure clamouring for power God do not give them.

Another pull her down story.

If this story is true (which i doubt) why didn't OBJ cancel the deal and get another company to renegotiate it?

For the Paris club and World bank to have allowed the deal it means they didn't see anything wrong with her siblings being involved with the negotiating company.

Madam Ngozi Okonjo-Iweala, for that singular act you did score a great goal and this country will forever remain grateful. My headache now is why GEJ chose to 'dash' N7b out. Even though we have everything to make us rich, Nigeria is not a rich country. Or is the plan that when the debts start rolling-in in $billions Madam and her siblings will be there to negotiate it off again?

Nwadike maintained that Obasanjo discovered that the firm that brokered the $12  Billion debt buy back deal had links with Okonjo Iweala . He alleged that ex minister's  sibling was a a top official of the firm, which got about $2 Billion as commission from the deal.


About $2billion was paid as commission to the company that facilitated that debt buy back. The company is owned by her siblings, it's not a secret no more.If you check the records of the Paris Club and World Bank you will find the owners."

these are the people you want to change Nigeria, make una siddon there dey look, by the time these people are done with us, we go beg God make he kill us,

Walahi Nigerians wicked!

Dem just wan potopoto the woman name.

@poster, so it is ur prayer that u will set up a business without profit? if her cousin or any members of her family has a company that can relieve you of what ur corrupt leaders did, it has become an offence to librate u from suffering nd smilling. u care if d coy got her 10% from a job weldone.

By the way, they are not running a charity Organization, Abi?