[img]http://4.bp..com/-IE0waVqjdK4/WZFbovP2KhI/AAAAAAAAeqA/clMd4V_rT80ayViEsRTXO0-FemprsRUvgCLcBGAs/s640/Olusegun-Obasanjo.jpg[/img]
Two-time former President, Olusegun Obasanjo has given reasons why he made a former World Bank staff, Ngozi Okonjo-Iweala a Finance Minister during his administration.

In his book titled, “Making Africa Work” co-authored with Greg Mills, Director of Brenthurst Foundation; Jeffrey Herbst, President of NEWSEUM and Dickie Davis, a retired major general, Obasanjo said some fraudulent projects and the Paris Club debt led to his “head hunt” for Okonjo-Iweala from World Bank.


According to Obasanjo, “On assumption of office as president, I discovered that the accumulated debt of Nigeria to the Paris Club was some $30 billion. Some of the projects that constituted the debt were dubious, if not outright fraudulent.

“One typical example was a turn-key project for $8 million where the money was drawn out with no site clearance let alone the foundation being laid. And yet, there was a video of the purported commissioning of the project. This happened in Enugu state, one of the 36 states in Nigeria.

“Obviously, it involved collusion and corruption between the state government and the lender and promoter of the project. All the same, the loan was a commitment and it had to be repaid. Such had become the practice of Nigerian debt to the international community.

“I visited most Western capitals to present anew Nigeria’s case. One such visit was to Washington DC where I met President Clinton and the president of the World Bank, Jim Wolfensohn.


“I raised the issue of debt relief with both of them and asked Jim for both support and advice. He advised that Nigeria should urgently embark on a comprehensive reform to impress its creditors. If Nigeria was doing well in its economic reform and management, it would get the World Bank’s support.

“In my first term, from 1999 to 2003, I visited many countries and world leaders, some more than once, to campaign for debt relief. There I got apparently sympathetic hearings, but not much action from political leaders.

“After my first term, I realized that my talks at the highest political levels needed follow-up at the levels below. So, I head-hunted Ngozi Okonjo-Iweala from the World Bank, appointing her as Nigeria’s Minister of Finance.

“My plan was that she would manage the follow-up at a lower level. Even then, the fact that Nigeria was the sixth largest oil-producing country in the world was regularly used as the reason to deny debt relief.


“I would then explain that Nigeria’s population of almost 150 million at the time and its stage of development should justify such relief.”


SOURCE: http://www.nairanaijanews.com/2017/08/obasanjo-explains-why-he-appointed.html

Baba with Brain


Mama okonji ma role model,nobody can forget the impact you made in this country

Evablizin:
Baba with Brain

Not "America will know about it"!

$30billion !! Northerners really finished this country, I remember the governor of imo state was Colonel Tanko zubairo. All governors where all from North. And Buhari is here shouting am fighting curruption like a mad man. Buhari should borrow Sense from Obasanjo

No one can compare Buhari with Obasanjo. Trust me had it been that buhari got into power in 1999 by now we won't even know what iPhone and Android is. Thank God the illiterate have been losing election till PDP change things around for good. If not, Somalia will be London to us

OBJ's DNA is semitic with Jesus.

If not for his greed, everyone knows OBJ was a far better leader than the others.

Okonja Iweala was the arrow head behind the forgiveness of over $30 billion debt for useless, ungrateful Nigeria. What has Adeosun done for Nigeria? Daily borrowing; under her, we have borrowed over $5 billion. FYI: under Obasanjo oil was oil $25 a barrel. What other excuse do you have Afonjas...wicked things?

OBJ your brain reach joor and that's why you're always in form as long as politics in Nigeria is concerned.


Tuale, but you follow for the corrupt leaders too o

I don't know why the north keeps clamouring for president

They are always moving this county backwards


That's why nigeria can't get better

I love her

if nothing work in south east,blame ur governors, Example like Enugu state government

One typical example was a turn-key project for $8 million where the money was drawn out with no site clearance let alone the foundation being laid. And yet, there was a video of the purported commissioning of the project. This happened in Enugu state, one of the 36 states in Nigeria.

“Obviously, it involved collusion and corruption between the state government and the lender and promoter of the project. All the same, the loan was a commitment and it had to be repaid. Such had become the practice of Nigerian debt to the international community.

When we realize that our so called leaders are our real enemies.

Me sha, I believe OBJ, the man is old, has no ambition and nothing to loose. So he says the truth.

Baba Obasanjo..Se e wa pa

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Ok

All na format

During the weekend Lacazette strike Morata strike Roney strike Lukaku strike Neymar strike Messi strike Ronaldo strike And this morning.... ASUU finally strike Una all well done���

tribalistseun:
No one can compare Buhari with Obasanjo. Trust me had it been that buhari got into power in 1999 by now we won't even know what iPhone and Android is. Thank God the illiterate have been losing election till PDP change things around for good. If not, Somalia will be London to us

That is what i am saying..telling the people who have being used by propaganda.. I wonder what buhari would have done in 1999 if he was President l .nonesense

lionjungle3000:
Okonja Iweala was the arrow head behind the forgiveness of over $30 billion debt for useless, ungrateful Nigeria. Afonjas...wicked things

Cc signature

I like people who has end in sight before hiring.

I wonder the end at which some of the current Minister are aiming at. Some of them know from their 'church-mind' that the score sheet is poor.

She made u and GEJ standout but dy KUNU drinkers wanted dragging a name to dy mud but she is still getting more juicy appointments

OBJ thinking deep but Baba go appoint retire but not tire old men without vision and brain

Nice one. Set tribalism aside. The leaders should learn to pick Meaningful n intelligent men or women to govern with irrespective of their tribe.

Baba wey get better eyes be that, not this fake Sai baba that that is carrying sain upadan