The former governor of Anambra state and president of the Securities and Exchange Commission (SEC), Peter Obi, has revealed that governors were warned about saving for the rainy day by the Dr. Ngozi Okonjo-Iweala, former minister of finance.

According to Post Nigeria, Obi further revealed that the governors were advised to eschew fiscal irresponsibility which was a bane to economic development.

In a recent interview with journalists, Obi explained the the recent bail out approved for states from the Nigeria Liquefied Natural Gas Company, dividends by President Muhammadu Buhari and the rationale behind the creation of the Excess Crude Account, as well as the Sovereign Wealth Fund.

READ ALSO: Obiano, Obi Disagree Over BH Prisoners In Anambra

Obi further said, Okonjo-Iweala was persistent in advancing for the cause of saving for the rainy day, during her time in office, where she was also the coordinating minister of economy

He said, “I have read newspaper reports that it is ironic that she spoke of a rainy day when it was already pouring.

“I personally remain indebted to her because it was from her persistent preaching on the need to save in the Sovereign National Wealth Fund that made me incorporate savings in foreign currency that is why one third of the money we left on leaving office was in foreign currency, $156 million(N25 billion at that time).

“With interest now it would be about $170 million and with the current rate it is almost N40 billion.”

Many states in the country are owing their workers salary for many months which has led to untold hardship for civil servants across the country.

According to Obi, the bailout given to the states would help them restructure their debts, but he insisted that the bailout should be followed with a clause which would make the states to manage their resources well.

“I have said severally that there is nothing wrong with bail-out or restructuring of debts, but I insist that such relief must be with conditions to instill fiscal discipline; else we make it a bad habit.

“A debtor must live and behave like one.

“So as a nation, whenever there is a need for a bail-out, be it for a states, banks or another sector we must ensure that such bail-outs do not allow the same irresponsibility that brought about its occurrence,” he concluded.


Source: http://www.naij.com/503627-peter-obi-defends-okonjo-iweala-says-warned-governors-save-rainy-day.html

The one that was not saved, what happened to it?

K.

K

He did very well as a Governor.
He is one of the Governors i respect very well.
He managed Anambra resources like he will manage his company.
Never looted Anambra like other governors.
Some Governors even said that they met empty treasury when they even handed over to themselves.

superstar1:
The one that was not saved, what happened to it?

Yet the federal government itself did not take it's own advice. How hypocritical.

That's Okwute Ndi Igbo talking..

Thank You Mr Obi I have now seen why you were able to leave a huge amount of money for your successor. If others were like you there wouldn't be any need for bail out.

That Federal Government did not do the right thing does not mean that others should not do the right thing.
All the 3 tier of governments should be responsible with money.
Squandering our money and pointing accusing finger to FG. cannot exonerate these thieves from what they have put their successors into.
The states are suffering while they are enjoying their loots.
The most annoying thing is that all eyes are on Federal government while different state governments are looting the nation blind.
No matter how hypocritical it will look to you.what is bad is bad.

StOla:
Yet the federal government itself did not take it's own advice. How hypocritical.

Mr. Obi lead Anambra with so much passion. The famous question he asked then which sometimes serves as an encouragment for me was.... Is Anambra cursed or was it mismanaged? and he turned everything positively around......... This is a governor who deserves the presidency............. Heheheheheh not one wey post something like this ** the new faces of change** for him state

Sometimes I wish that God will bless my state (Imo) with a leader like him.
Since Mbakwe left power it has been from one thief to another.Even during the military era.While other MILAD are making progress in other states.The once that worked in Imo state was busy looting Imo treasury.
Peter really impressed me.From attracting foreign investment to Industrialization.Reconstruction of roads,Tackling of erosion problems in Okpoko and other many achievements.
While i was working in Onitsha,I watched how this man was piloting the affairs of Anambra.
One of the things that impressed me is that his state is one the states that receive the least allocation from the center.
We need more leaders like him.

For Imo state.If God can remember Anambra.He will remember us one day.

brize:
Mr. Obi lead Anambra with so much passion. The famous question he asked then which sometimes serves as an encouragment me was.... Is Anambra cursed or was it mismanaged? and he turned everything positively around......... This is a governor who deserves the presidency............. Heheheheheh not one wey post something like this ** the new faces of change** for him state

adultiph:
Sometimes I wish that God will bless my state (Imo) with a leader like him.
Since Mbakwe left power it has been from one thief to another.Even during the military era.While other MILAD are making progress in other states.The once that worked in Imo state was busy looting Imo treasury.
Peter really impressed me.From attracting foreign investment to Industrialization.Reconstruction of roads,Tackling of erosion problems in Okpoko and other many achievements.
While i was working in Onitsha,I watched how this man was piloting the affairs of Anambra.
One of the things that impressed me is that his state is one the states that receive the least allocation from the center.
We need more leaders like him.

For Imo state.If God can remember Anambra.He will remember us one day.

bro. Thanks for understanding, Rochas started very well but bad company they say corrupts good minds...... I pray his tenure runs very fast so that someone better will pilot the affairs... But una need to be careful oo

Non of the so called governors, including Oshiomole care for Nigeria. They only wanted the money to be shared during their tenure in order to embezzle it. I blame GEJ for not over ruling their demand to share the excess crude account

The zoo governors are agents of the devil himself


How can someone have spare key to the treasury and cannot be called to hold account of until he has left office 8 yrs after.

How do you prosecute a crime when the evidence existed 8 yrs ago

The zoo is irredeemable

The zoo is a joke

cjrane:
Non of the so called governors, including Oshiomole care for Nigeria. They only wanted the money to be shared during their tenure in order to embezzle it. I blame GEJ for not over ruling their demand to share the excess crude account

You are right.We really need to be careful.Rochas started very well but rapidly changed into what we never envisaged.
We really need someone that understand our plight to steer us out of bad leadership.
I just wish Rochas can change and reverse back to his early days in the office.

brize:
bro. Thanks for understanding, Rochas started very well but bad company they say corrupts good minds...... I pray his tenure runs very fast so that someone better will pilot the affairs... But una need to be careful oo

I ve always said this to myself, all that i ve suffered is my fault first(by choice,association,desperation and ignorance) before blaming others and imaginary enemies.

This advice of saving for a rainny day ve really helped me in life, even my house project money ve been saved since 5 years ago.

He that fails to prepare, prepares to .......?

But she forgot to warn the Federal government to save for rainy days...What an irony..

The states' profligacy is known and a different issue.

Nigerians issue with Ngo baby is that of our national treasury. Did she advise Jona.dunce or not? If she did but her advice not taken, why couldn't she resign honourably?

Ngo was an accomplice in looting Nigeria dry.

Okwute ndi igbo

adultiph:
Sometimes I wish that God will bless my state (Imo) with a leader like him.
Since Mbakwe left power it has been from one thief to another.Even during the military era.While other MILAD are making progress in other states.The once that worked in Imo state was busy looting Imo treasury.
Peter really impressed me.From attracting foreign investment to Industrialization.Reconstruction of roads,Tackling of erosion problems in Okpoko and other many achievements.
While i was working in Onitsha,I watched how this man was piloting the affairs of Anambra.
One of the things that impressed me is that his state is one the states that receive the least allocation from the center.
We need more leaders like him.

For Imo state.If God can remember Anambra.He will remember us one day.

Abagoro

PassingShot:
The states' profligacy is known and a different issue.

Nigerians issue with Ngo baby is that of our national treasury. Did she advise Jona.dunce or not? If she did but her advice not taken, why couldn't she resign honourably?

Ngo was an accomplice in looting Nigeria dry.

Is Federal Govt oweing its workers? Why are states oweing there's? Why are states like Osun refused from borrowing to pay workers due to over borrowing if not that their Gov used their money to fund Apc,keep deceiving yourself!

I don't understand."Abagoro"
I don't take that guy serious.
He only see negatives on the side of his perceived enemies and will never see anything bad in the people he supports.
He is only interested in posting beautiful pictures from Imo state and will always come to defend government's poor governance in Imo state.
I don't take him serious.
I love people that discuss politics for the benefit of the masses and not for what they will gain.
So I will love you to explain what you mean by "Abagoro"

HIGHESTPOPORI:
Abagoro

StOla:
Yet the federal government itself did not take it's own advice. How hypocritical.

shut up, if you don't know what to say.

Excess crude funds were the funds to save. but selfish Governors like Ameachi who was amassing money for his ambitions insisted the money must be shared.

after crude oil prices dropped, there was no excess again, the country was previously running on a budget of 75$ per barrel could not run affairs again when prices fell below $50.

PassingShot:
The states' profligacy is known and a different issue.

Nigerians issue with Ngo baby is that of our national treasury. Did she advise Jona.dunce or not? If she did but her advice not taken, why couldn't she resign honourably?

Ngo was an accomplice in looting Nigeria dry.

lying liars, are you lair Mohammed's cousin.

Obi left about #76bn in office, Ameachi left #15bn with 4months unpaid salary, hahaha you are a disgrace. Despite having the 4highest Igr and 3highest allocation, he left the state with uncompleted projects, debts and unpaid salaries, you should be ashamed of trying to change the topic of this thread

Happiness87:
shut up, if you don't know what to say.

Excess crude funds were the funds to save. but selfish Governors like Ameachi who was amassing money for his ambitions insisted the money must be shared.

after crude oil prices dropped, there was no excess again, the country was previously running on a budget of 75$ per barrel could not run affairs again when prices fell below $50.

Wow.

Nice ass. You've got it bad, I'm speechless.

However I'm not speechless as too be silent to truth.

Apparently you've been watching too much reality shows lately to know that the federal government itself made withdrawals from same account without any approval from the co-signatories.

The former minister of finance recently confirmed that she withdrew a hefty sum ($2.3B ?) to make some payments. She claimed the ex president gave approval. Through what medium? Verbal. An approval that even the president has no powers to give without the consent of the co-signatories. Remember that even the governor you mentioned once claimed they asked to share the money because the FG was already stealing it.

No documentary evidence even if Jonathan were to deny, Ngozi Okonjo Iweala would have no one to blame if she lands in jail. How can someone with such vast international experience still be so stupid at such basic professional ethics.

You've really got it bad.

PassingShot:
The states' profligacy is known and a different issue.

Nigerians issue with Ngo baby is that of our national treasury. Did she advise Jona.dunce or not? If she did but her advice not taken, why couldn't she resign honourably?

Ngo was an accomplice in looting Nigeria dry.

Where were u when Ngozi was shouting and telling them not to share all monies buy save for d rainy day? Even the money put into the SWF is there today courtesy of Ngozi. All d governors led by Ameachi called her all sorts of names and even went to Supreme court so that they can share d money in SWF. They and Atiku gave her d name 'Voodoo economist" simply because she wanted d right thing done. Thanks to her now, the FG can pay its workers while the States cant pay theirs.

Blackfire:
I ve always said this to myself, all that i ve suffered is my fault first(by choice,association,desperation and ignorance) before blaming others and imaginary enemies.

This advice of saving for a rainny day ve really helped me in life, even my house project money ve been saved since 5 years ago.

He that fails to prepare, prepares to .......?

Fail

Of course, Madam Okonjo sounded the warning, unfortunately, a worwor governor like Oshiomole used his ten fingers to lick the 'whole soup' little wonder he is suffering from endemic numerical diarrhea

How Aregbesola, Rochas, Amaechi and Adams go hear'am when some one like Osho dey busy dey sniff young girls nyansh for all crannies for Ethiopia.

As una no know book, una no know Fim for economics, listen to pesin wey know kwanu! una no gree! ... Oya see'am now...

The only thing wey these governors pass na to dey take selfie for US. One dey busy dey feed primary school pupil while their papa and mama dey starve for office.

The other one wey think say him be rabid dog soji when him meet a rabid werewolf(wike).

Later Adams go go for channels TV dey run him mouth like nyansh wey dey suffer from diarrhea. Rubbish!

In other news, God bless Anambra state(my dear state).

StOla:
Yet the federal government itself did not take it's own advice. How hypocritical.

They did, you just don't want to hear the truth. If they had been as inattentive as the governors by now we would have had a repeat of the early 80's

Your sentiments wont sell, if the account had more than one signatory have did FG have access to the account.
WAs the money stolen No, it was used to pay for subsidy for the good of the populace.

NOI will never go to jail, she was the minister of finance and all financial decisions was saddled on her, Ameachi is a thief, who was clamouring for money to fund APC, abandoned projects and left 4 months unpaid salaries. He is the one to go to jail

StOla:


Wow.

Nice ass. You've got it bad, I'm speechless.

However I'm not speechless as too be silent to truth.

Apparently you've been watching too much reality shows lately to know that the federal government itself made withdrawals from same account without any approval from the co-signatories.

The former minister of finance recently confirmed that she withdrew a hefty sum ($2.3B ?) to make some payments. She claimed the ex president gave approval. Through what medium? Verbal. An approval that even the president has no powers to give without the consent of the co-signatories. Remember that even the governor you mentioned once claimed they asked to share the money because the FG was already stealing it.

No documentary evidence even if Jonathan were to deny, Ngozi Okonjo Iweala would have no one to blame if she lands in jail. How can someone with such vast international experience still be so stupid at such basic professional ethics.

You've really got it bad.

HIGHESTPOPORI:
Is Federal Govt oweing its workers? Why are states oweing there's? Why are states like Osun refused from borrowing to pay workers due to over borrowing if not that their Gov used their money to fund Apc,keep deceiving yourself!

You dey mind dat one? U see as him don humble? Abeg no dey answer am jare.