Former governor of Central Bank of Nigeria (CBN), Professor Charles Soludo, yesterday slammed the minister of finance, Dr Ngozi Okonjo-Iweala, for what he described as the mismanagement of the economy under her watch.
“I will show that while you are introducing austerity measures and soon to eviscerate the citizens, our public finance is hemorrhaging to the point that an estimated N30 trillion is missing or stolen or unaccounted for, or simply mismanaged — under your watch,” Soludo alleged.
“The issues at stake are too grave to be trivialized through name-calling. As I write, the naira exchange rate to the dollar is at N215 (from N158 a few months ago) and unless oil price recovers, this is just the beginning. For the sake of Nigeria, I won’t keep quiet anymore.”
Soludo also rejected claims by Okonjo-Iweala that he performed poorly as governor of the CBN, insisting that his performance as CBN governor was locally and globally acknowledged.
Soludo further asserted that no CBN governor in the history of Nigeria had achieved the record of delivering 24 consecutive months of single digit inflation as he did as the apex bank’s governor until the advent of the unprecedented global crisis in 2008.
Soludo accused the coordinating minister of the economy of running the country’s economy aground and blaming the state governors for failure to save for the rainy days whereas the federal government has benefitted more from sharing the Excess Crude Account (ECA) savings.
“I hereby challenge your attempt to blame others for not saving for the rainy day. It is not a virtue when you are quick to appropriate all the credit when things are going well, but shift the blame when they go wrong,” Soludo stated.
“You blame the state governors, who, according to you, have taken the federal government to the Supreme Court – not that a Supreme Court judgement forced your hands. For your information, the governors have never agreed to savings and always threatened court action even under Obasanjo. Why did we save under Obasanjo but not under Jonathan? Two keywords explain it: leadership and integrity.”
According to Soludo, the Governor Chibuike Amaechi-led NGF insisted on sharing the funds because they found out that the federal government was illegally fiddling with the savings.
“So, as Nigerians still wonder, if billions of dollars are now ‘missing’ under your nose, why should governors trust you to keep their money?” said Soludo.
“Do the states that have taken the federal government to the Supreme Court and refused to save also include the PDP governors, who are in the majority? If so, then it is fatal: even governors of your own party, PDP, do not trust you to keep their money! Furthermore, did the governors also stop the federal government from saving part of its share? If you ran a surplus budget at the federal level, you would have had credibility to blame others or to say they did not listen to your advice.”
“The key point is that since you were running huge deficits yourself, it was also in your own interest to share the ECA. You did not show leadership or credibility, full stop.”
“You are brilliant Madam, but you need serious help,” he said while reeling our data to show the porous state of the Nigerian economy. Having spent all your life in the World Bank bureaucracy largely in administration/operations, no one will blame you if your economics has become a bit rusty.”
He also accused Okonjo-Iwealla of forging Nigeria’s national economic statistics.
“What worries me is that this government is the first in our history to attempt to manipulate our national statistics under Okonjo-Iweala. When the National Bureau of Statistics (NBS) published the poverty figures in 2011, she felt indicted and incensed. She called upon the World Bank to come and examine the ‘methodology’ and get NBS to ‘review’ its numbers,” Soludo alleged.
“Oby Ezekwesili (as VP Africa Region rejected the call to try to tamper with a country’s statistics). Once Oby left, the World Bank started talking about ‘new figures’, without conducting any new surveys. I was told about it by a World Bank economist, and I cautioned that it was a dangerous gamble that would damage the credibility of the NBS.
“If you want to ‘review methodology’, you conduct another survey but you can’t change ‘methodology’ because you don’t like the published figures. No government in our history has tried it: even Sani Abacha allowed a poverty survey that put poverty at 67 per cent under his regime.”
According to Soludo, at this rate nobody will believe statistics coming from the Nigerian government again.


http://leadership.ng/news/408685/soludo-fires-okonjoiweala-n30trillion-stolen-watch

Than to vote this clueless and most Corrupt African Leader of Modern Generation called President GE Jonathan


#IHaveDecided
#FeBuhari14th
#GMB/PYO

Only?

It's too small ni
Soludo abeg go add am well

After all, the clueless thief said "stealing is not corruption". By the time he land in Kirikiri prison, he will confess. Wouldn't be bad if Okonjo is made his prison mate.

$20B is still missing. Wey the money

Its 30 not 20

With all the certificates soludo has, he's still irrelevant.

Ha there is God oooo.All this money you are sharing and mismanaging.Continue. That woman has finished this country courtesy Gej.They will see wroth of God soonest. Chai baba God help us.

Soludo, please go and re calculate your figure that money is unrealistic, oga CBN, you are lying.

tmotmo:

Having spent all your life in the World Bank bureaucracy largely in administration/operations, no one will blame you if your economics has become a bit rusty.”

Serious punchline .Shame on all our leaders.

Soludo must be a thief too for him to know this. na thief dey know thief. soludo wants to claim that he is a saint now or what?

Then Dokubo, Tompolo, etc and the thieving government associates like Ahmadu Ali, etc, keep telling us to wait till 2019 before we'll effect CHANGE. CHANGE is now.

No doubt Sanusi was very modest with the truth. Imagine how much harassment he came under simply because he blew the whistle on them. I guess the reason was less because off what he revealed than what more he might reveal if allowed to linger in that office.

Okonjo Iweala is a total disaster to this nation and a disgrace to women folk.

Gbam! Whey PDP E-Warriors

No more story, let's effect CHANGE as soon as possible... Nigeria must survive

dachpee:
Soludo, please go and re calculate your figure that money is unrealistic, oga CBN, you are lying.

You wey know the exact calculations please tell us! The bottom line is plenty money miss! Haba Jonathan sabi thief!!!
Meanwhile




GMB till Jonathan returns the $20B he stole

this is coming from thesame person who crumble the economic of the nation with his miscalculations, now the nation don dey boom he dey cum dey run mouth like person wey eat foul yansh

charley again?
Charley no d tire?
Funny enough it's like no body is listening to him.

mrofficial:
Ngozi has touched the tail of a Lion . It won't be long before she and GEJ are sent packing.

#SaiBuhari

I beg to disagree with you on this.
Ngozi is a stuff and good material for the Nation.She only operated based on the platform dictated to her by GEJ.

By the time we dust-off the Devil-GEJ in her body, she will be her real admirable NGOZI.


#FeBuhari!!!

https://www.google.com/url?q=http://saharareporters.com/2007/01/22/iweala-sex-scandal-untangling-knot&sa=U&ei=LlPPVPTXJ8jxoASRy4CICA&ved=0CAsQFjAA&usg=AFQjCNH18ugKyJS53d--8J4dTm3lneNUJw


Interesting link. People who can not manage their homes,managing Nigeria's economy.

dachpee:
Soludo, please go and re calculate your figure that money is unrealistic, oga CBN, you are lying.

Gbam

N30trillion is unrealistic

Soludo wants to destroy himself.

baybeeboi:
charley again?
Charley no d tire?
Funny enough it's like no body is listening to him.

Your corrupt, criminal boss might pretend they are not listening to him but the masses are. And we will just have enough of all these robbery very soon. Continue. Just remember their is God. I mean seriously! Must you defend the indefensible. I can only pray that whatever you wish for Nigeria comes back to you in many folds. Han han!!! Why are people so heartless! You dont even pity all those that are suffering!

rabimlomo:

Your corrupt, criminal boss might pretend they are not listening to him but the masses are. And we will just have enough of all these robbery very soon. Continue. Just remember their is God. I mean seriously! Must you defend the indefensible. I can only pray that whatever you wish for Nigeria comes back to you in many folds. Han han!!! Why are people so heartless! You dont even pity all those that are suffering!

am not defending anybody here.
And He's absolutely not taking to my corupt boss either.
He's taking to those who do not want Him in office and they are not even responding.

baybeeboi:

am not defending anybody here.
And He's absolutely not taking to my corupt boss either.
He's taking to those who do not want Him in office and they are not even responding.

Sorry, I can't understand what you just wrote.

tmotmo:
Former governor of Central Bank of Nigeria (CBN), Professor Charles Soludo, yesterday slammed the minister of finance, Dr Ngozi Okonjo-Iweala, for what he described as the mismanagement of the economy under her watch.
“I will show that while you are introducing austerity measures and soon to eviscerate the citizens, our public finance is hemorrhaging to the point that an estimated N30 trillion is missing or stolen or unaccounted for, or simply mismanaged — under your watch,” Soludo alleged.
“The issues at stake are too grave to be trivialized through name-calling. As I write, the naira exchange rate to the dollar is at N215 (from N158 a few months ago) and unless oil price recovers, this is just the beginning. For the sake of Nigeria, I won’t keep quiet anymore.”
Soludo also rejected claims by Okonjo-Iweala that he performed poorly as governor of the CBN, insisting that his performance as CBN governor was locally and globally acknowledged.
Soludo further asserted that no CBN governor in the history of Nigeria had achieved the record of delivering 24 consecutive months of single digit inflation as he did as the apex bank’s governor until the advent of the unprecedented global crisis in 2008.
Soludo accused the coordinating minister of the economy of running the country’s economy aground and blaming the state governors for failure to save for the rainy days whereas the federal government has benefitted more from sharing the Excess Crude Account (ECA) savings.
“I hereby challenge your attempt to blame others for not saving for the rainy day. It is not a virtue when you are quick to appropriate all the credit when things are going well, but shift the blame when they go wrong,” Soludo stated.
“You blame the state governors, who, according to you, have taken the federal government to the Supreme Court – not that a Supreme Court judgement forced your hands. For your information, the governors have never agreed to savings and always threatened court action even under Obasanjo. Why did we save under Obasanjo but not under Jonathan? Two keywords explain it: leadership and integrity.”
According to Soludo, the Governor Chibuike Amaechi-led NGF insisted on sharing the funds because they found out that the federal government was illegally fiddling with the savings.
“So, as Nigerians still wonder, if billions of dollars are now ‘missing’ under your nose, why should governors trust you to keep their money?” said Soludo.
“Do the states that have taken the federal government to the Supreme Court and refused to save also include the PDP governors, who are in the majority? If so, then it is fatal: even governors of your own party, PDP, do not trust you to keep their money! Furthermore, did the governors also stop the federal government from saving part of its share? If you ran a surplus budget at the federal level, you would have had credibility to blame others or to say they did not listen to your advice.”
“The key point is that since you were running huge deficits yourself, it was also in your own interest to share the ECA. You did not show leadership or credibility, full stop.”
“You are brilliant Madam, but you need serious help,” he said while reeling our data to show the porous state of the Nigerian economy. Having spent all your life in the World Bank bureaucracy largely in administration/operations, no one will blame you if your economics has become a bit rusty.”
He also accused Okonjo-Iwealla of forging Nigeria’s national economic statistics.
“What worries me is that this government is the first in our history to attempt to manipulate our national statistics under Okonjo-Iweala. When the National Bureau of Statistics (NBS) published the poverty figures in 2011, she felt indicted and incensed. She called upon the World Bank to come and examine the ‘methodology’ and get NBS to ‘review’ its numbers,” Soludo alleged.
“Oby Ezekwesili (as VP Africa Region rejected the call to try to tamper with a country’s statistics). Once Oby left, the World Bank started talking about ‘new figures’, without conducting any new surveys. I was told about it by a World Bank economist, and I cautioned that it was a dangerous gamble that would damage the credibility of the NBS.
“If you want to ‘review methodology’, you conduct another survey but you can’t change ‘methodology’ because you don’t like the published figures. No government in our history has tried it: even Sani Abacha allowed a poverty survey that put poverty at 67 per cent under his regime.”
According to Soludo, at this rate nobody will believe statistics coming from the Nigerian government again.


http://leadership.ng/news/408685/soludo-fires-okonjoiweala-n30trillion-stolen-watch

Than to vote this clueless and most Corrupt African Leader of Modern Generation called President GE Jonathan


#IHaveDecided
#FeBuhari14th
#GMB/PYO

This is why i sometimes wonder what has become of the common sense of some Nigerians who peddle or believe trash stories like this!

Nigeria's annual budgets as approved by the National assembly over the last 5years has been an average of about N3.5trillion yearly, the budget for this current year to be passed is just over N4trillion.

Now explain to me Mr Soludo or Mr rumour peddler, how could Jonathan have stolen or mismanaged N30trillion in 5years as President when the total budget available for the whole 5-year period is less than N20trillion

Simple Maths: if average budget per year is N3.5trillion

total budget over 5years = 3.5trillion x 5years = N17.5trillion

Now, inside this same N17.5trillion the Federal government has been disbursing money to state and local governments, the Federal government has been paying salaries and contractors inside this same N17.5trillion, the Federal government has been meeting all other obligations inside this same N17.5trillion.
PLEASE Mr Soludo or Mr Rumour Peddler, show us how it is still possible to steal N30trillion from inside this same N17.5trillion budget over 5years.

Another man that is fighting too hard for relevance.... soludo please tell us what we dont know.... 30 TRILLION UNDER 5YEARS HOW DID THIS MAN EVER BECOME A CBN GOV

rabimlomo:

Sorry, I can't understand what you just wrote.

it's okay Buddie......after-all u neva understood my first

nelsonoba:




This is why i sometimes wonder what has become of the common sense of some Nigerians who peddle or believe trash stories like this!

Nigeria's annual budgets as approved by the National assembly over the last 5years has been an average of about N3.5trillion yearly, the budget for this current year to be passed is just over N4trillion.

Now explain to me Mr Soludo or Mr rumour peddler, how could Jonathan have stolen or mismanaged N30trillion in 5years as President when the total budget available for the whole 5-year period is less than N20trillion

Simple Maths: if average budget per year is N3.5trillion

total budget over 5years = 3.5trillion x 5years = N17.5trillion

Now, inside this same N17.5trillion the Federal government has been disbursing money to state and local governments, the Federal government has been paying salaries and contractors inside this same N17.5trillion, the Federal government has been meeting all other obligations inside this same N17.5trillion.
PLEASE Mr Soludo or Mr Rumour Peddler, show us how it is still possible to steal N30trillion from inside this same N17.5trillion budget over 5years.

My brother you have said it all. If today, Charles Soludo said the amount was 300 Trillion naira missing NL's with poor reasoning will still believe.
Some people actually think 30 trillion is 30 pieces of paper that one can put inside pocket and fly to America with.

One have to be careful and check very well what these Profs always say.

These learned people always believe that "A mistake from a professor will forever remain the greatest wisdom of a nursery school pupil ".