Advertisements

Dr. Iweala will leave with Nigeria’s economy & her reputation in tatters – Tola Adenle

May 3, 2015

Nigeria

No government official has received more space in my essays in the last several years than Dr. Ngozi Iweala, and for good reasons.  I would probably have just let her leave without saying another word as I’ve done for quite a while but the Economy Czarina’s intent of resorting to pettifogging on the matter of who authorized PriceWaterhouse “auditing” the NNPC looted billions. of dollars is forcing me, one last time, to mention that this minister lost her innocence a long time ago soon after leaving Obasanjo’s administration.

Even on her return as Jonathan’s promotion to Finance Minister and Economy Director from Obasanjo’s Finance Minister, and as a section of the Nigerian press was adulating her as someone with access to “help” Nigeria secure “favorable borrowing terms” from – it should be ‘through’ – the World Bank, it was glaring that she either knew not much how to “direct” Nigeria’s economy or she was not interested in getting Nigeria’s economy on the road to growth and prosperity.

Iweala is senior to all within – perhaps, not only – the Ministry of Finance (Auditor-General; Accountant-General …) but even above the National Planning Minister if her job title of ‘Director of the Economy’ is anything to go by. Any job of that magnitude [the PW contract] must/should have been run by her.

While there are newspaper reports that ascribe to her a statement that the Attorney-General was the person who procured/hired PW, I think her “not me” explanation in the hiring of PW on the particular occasion is not only simplistic but the disclaimer does her credentials more damage than good; it does not distance her from the stench created not just by NNPC “goats” but by what must have been humongous amount Nigeria must have had to pay in a throwing-good-money-after-bad.

It is very troubling to note that even though the Economy Czarina has, at least, owned up to suggesting an audit by external auditors, but reports show there is a gap between the statement now credited to her: “the Auditor-General hired PriceWaterhouse …” AND the following, but first a little aside: just as the following is from an interview far away from Nigeria with a Fortune Magazine reporter, it was Iweala’s pronouncement at a South African forum as I’ve mentioned multiple times in this blog that I first saw her turn coat, so to say, about Nigeria’s economy.

She had just finally left Obasanjo’s administration after her transfer from the Finance Ministry where she had “helped” liquidate all our debts.  Ms. Iweala had announced, to my consternation, that Nigeria will still need to take loans …  Then the eponymous Opinion Poll -Ngozi Okonjo-Iweala Polls – NOI Polls, an organization the website reported she had disengaged from when she became the World Bank’s M.D. put out the questionable “findings” that I found skewed to favor Jonathan; then her appointment to her present position.

That pronouncement led to my first write-up on Ngozi Okonjo-Iweala, and as the loans started and she pushed for more and more loans, my opposition to her grew.

Here is the Fortune magazine excerpt from Iweala’s interview with with Vivienne Walt that shows it was NOT the auditor-general but the Attorney-General that hired PW:

Billions of dollars in oil revenues have gone missing, and the governor of the central bank was suspended in February after he voiced suspicions about corruption. What’s gone wrong?

I said at the time we need to do the audit. The attorney general has hired PricewaterhouseCoopers, a reputable international firm … [emphasis mine].

However, in her press conference a couple of days ago, she said:

“Contrary to reports by Premium Times and some other media, the Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo-Iweala has not disowned PriceWaterHouse Coopers … because the forensic audit was actually proposed by Okonjo-Iweala … The Auditor-General later appointed PwC to carry out the audit.

Fare thee well, Doctor, and definitely years too late.

 

RELATED ESSAYS, AMONG MANY:

https://emotanafricana.com/2011/06/22/nigeria%E2%80%99s-new-ministerial-list-portends-a-future-that-is-nigeria%E2%80%99s-immediate-past/

https://emotanafricana.com/2013/06/14/nigerias-economy-czarina-finally-acknowledges-her-baby-is-in-trouble-same-day-she-spoke-glowingly-of-same/

https://emotanafricana.com/2014/02/23/okonjo-iweala-overstayed-her-welcome-and-now-its-too-late-to-resign-from-corruption-drenched-nigerian-government-tola-adenle/

https://emotanafricana.com/2015/02/03/nigerias-former-cbn-governor-vs-economy-director-iweala-each-knows-what-the-other-knows-but-nigerians-will-never-know-what-both-knows-tola-adenle/

 

SUNDAY, MAY 3, 2015.

 

Advertisements
, , , , ,

Subscribe

Subscribe to our RSS feed and social profiles to receive updates.

19 Comments on “Dr. Iweala will leave with Nigeria’s economy & her reputation in tatters – Tola Adenle”

  1. Debo Says:

    NOI was a glorified failure rather than what she really is; an agent of ruin, typical of all ex-WB/IMF staff, imposed on their home nations, to sabotage developments and ensure status quo remains I.e economic slavery to IMF/WB remains.
    One only need to be at her lecture/speech to realise that her logic & articulation of intellectualism are too elementary, when compared with REAL economists, of similar work exposure/experience.
    Development & corruption can’t go together. She betrayed Nigeria.

    Like

    Reply

    • emotan77 Says:

      Thanks, Mr. Debo.

      While many may not agree with bashing Ms. Iweala for lack of scholarship because she’s very accomplished in that respect, MOST will agree about her not having done well for Nigeria, her land of birth.

      Regards,
      TOLA.

      Like

      Reply

  2. emotan77 Says:

    THIS SINGLE RESPONSE IS only being given to the identities listed below because as the short essay shows, I really have no more time to waste on the Honorable Ms. Iweala but just to show the extent to which public officials are being aided in Nigeria by sycophantic and jobless individuals.

    As I wrote more than two years ago, I decided to just trash submissions from these BOILER ROOM operations that used to fill my box whenever I wrote anything which, are naturally, reactions to actions of the Economy Czarina.

    TOLA.

    Kenneth Okoro & Olusola who are ONE & THE SAME PERSON sending mails from same computer & same 41 58 210 XXX; IP &

    lexyadg
    lexyadg2
    chuksmon
    bayoColebola
    tolacoleBode
    Kazeemkore
    cyrilogbeni
    danOsofisan
    patrickDelaj AND
    ueghomeka

    ONE PERSON, with Yoruba & Ibo nom de plume from same IP: 41 58 239 XX

    The “two of you” may even be a single guy.

    Like

    Reply

  3. Olusola Daniel Says:

    Contrary to your assertion, Dr Ngozi Okonjo-Iweala did not at any time lose her innocence. Her sterling character has stood the test of time. I can’t help but wonder why a little clarification from her would call for such an aggressively acerbic response as this.

    Like

    Reply

  4. Ken Says:

    Madam,
    You have been strongly opposed to everything about NOI since I started reading your blog. Do you have any particular score that you are trying to settle?

    Like

    Reply

  5. chuks Says:

    Okonjo Iweala will always be a hero for Nigeria no matter what you want us to believe. Her legacy will live for a long time to come in this country. Don’t you notice that the more you try to demean her, the more she gets global accolades? You’ve definitely not heard the last of this great woman.

    Like

    Reply

  6. Bayo Says:

    This write-up is totally false,NOI is now a victim to all these jobless writers,creating meaningless stories is just an act of wickedness

    Like

    Reply

  7. Tola Says:

    NOI activities and passion is reflected in her work,she will be remembered for her role as a driving force in the economy growth in Nigeria,having lead the economy team that created the excess crude A ccount(EcA) ECA succeeded brillantly,Nigeria passes through the global economic recession unscathed because it had 22bn in savings

    Like

    Reply

  8. Bose Says:

    We were thought in school to ask questions when we don’t understand something.The level of transparency witnessed in this administration as coordinated by the minister of finance, Dr Ngozi Okonjo-Iweala is unparalleled which has never been seen in Nigeria. What more can one ask for? This woman’s sophistry is just beyond ordinary may be that is why the average Nigerian cannot understand.

    Like

    Reply

  9. bode Says:

    Our people must learn to appreciate good things when they see one. Only fools will not appreciate Okonjo-Iweala’s efforts at revamping the Nigerian economy. I still wonder what some people still want this woman to do or say. If she talks they say she is talking too much. If she decides to keep quite they say she is not talking. You can never satisfy everyone Mrs Okonjo-Iweala. Please continue your good works.

    Like

    Reply

  10. Patrick Says:

    Articles like these are mere attempts to tarnish the image of Okonjo-Iweala and also to gain cheap popularity. This is a woman whose efforts is being acknowledged by the international society and outside Nigeria; she keeps bagging awards for her economic reforms and land mark achievements in being a competent Finance Minister. Her haters loathe for this!

    Like

    Reply

  11. Cyril Says:

    From Obasanjo regime up to the present regime, Okonjo-Iweala has remained outstanding for integrity and competence in managing Nigerian economy. Her name would go down in history as the Finance Minister that helped revamped the economy, embarked on wide economic reforms, built Nigeria into the strongest economy in Africa and so on.

    Like

    Reply

  12. Kazeem Says:

    Okonjo-Iweala is one of the best Finance Ministers that this country has ever had. All these side-talks and comments are nothing to write home about; they can’t change our mind about this astute woman.

    Like

    Reply

  13. Fatai Bakare Says:

    To be frank Dr Ngozi Okonjo Iweala came around these past six years to mess herself up, messed our economy and possibly damaged her reputation with the World Bank. She could not revive the economy of the Nation and under her nose, a lot of financial misappropriations were the order of the day. It’s really shameful. This PWC case is like Okonjo ate the food while we saw the Auditor General’s lips oiled. Now she does not want to take the blame.

    There is God oooo.

    Like

    Reply

    • emotan77 Says:

      Dear Fatai,

      Indeed, there IS God, but it seems these government officials know it!

      Greetings,
      TOLA.

      Like

      Reply

    • Dan Osofisan Says:

      Whatever else you may say or think, she has not done any of the above. Her reputation at the World Bank and IMF is intact; as a matter of fact, it is better now than it used to be. She has not messed up herself either. You would need to look at the nation holistically so as to make an informed statement concerning our economy. Nigeria is a peculiar state and given our peculiarities, Madam has done an awesome job. Someday, we will all see that.

      Like

      Reply

      • Uwastic Says:

        To Emotan: I do not necessarily like to post comments here and there, but I stumbled on this article and after reading it I am led to say something, and this is it: I find that this article is filled with many ‘nothings’. The person you speak of, Dr Mrs Ngozi Okonjo-Iweala, despite all the accusations hurled at her, has only one thing in mind, and that is improving the economy of this nation. Now, for those sitting on the other side of the fence and looking on, it may seem like a small thing, but I can assure you, it is no mean feat. I personally think she has done an admirable job of it.

        Like

  14. laiopawoye@comcast.net Says:

    You are right.
    Lati.

    Like

    Reply

Leave comments

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: