Buhari Questions PS Over
Diversion Of $ 1bn Rail Transport Loan Under Okonjo -Iweala’s Watch

President Muhammed Buhari on Monday
asked the Ministry of Finance to provide
explanations on the whereabouts of the
foreign loans obtained for rail projects but
diverted to other purposes under the
watch of former Minister of Finance, Dr.
Ngozi Okonjo-Iweala.
The president directive followed an
instance of the diversion of a substantial
part of the loan of USD1.005 billion from
the Chinese Exim Bank, meant for the
construction of a standard gauge rail line
linking Lagos and Kano States.
President Buhari, who was briefed by the
Permanent Secretary, Ministry of
Transport, Alhaji Mohammed Bashar was
informed that only $400 million was left
of the loan.
“I hope that due process was followed
before such diversions were carried out.
Taking money from one project to
another has to be done properly,” Buhari
warned.
He expressed regret that government
had, over the years, failed to meet its
counterpart funding obligation on some
projects, leading to such projects being
left uncompleted or abandoned.
He added that there was a clear need to
streamline, harmonize, and prioritize
ongoing projects in the transportation
sector.

Source: www.informationng.com/2015/08/buhari-questions-ps-over-diversion-of-1bn-rail-transport-loan-under-okonjo-iwealas-watch.html?utm_source=&utm_medium=twitter

Ok

Chaiiiii! These huge monies dey make body run temperature. Baba, abeg probe & jail ALL their asses.