Okonjo-Iweala vows not to pay
marketers  •Calls N159bn subsidy payment claim fraudulent. The federal government is spoiling for
a fresh showdown with oil importers
over subsidy payment. This is coming as there is no end in
sight yet for the current face off
between the two sides that has
grounded the nation for several days
now. Finance Minister Ngozi Okonjo-Iweala
yesterday accused them of submitting
to government suspicious payment
claims to the tune of N159billion in
exchange rate differentials. The payment claims, according to her,
reeked of fraud. She told reporters at a farewell
meeting in Abuja that she would not
approve payment of the claims unless
verified by the relevant authorities. “Marketers were asking for N159
billion for exchange rate differentials
from the outstanding N200 billion.
There has been so much fraud and
scam so I have refused to sign for that
money but have agreed that a committee be set up involving the
Central Bank of Nigeria (CBN) to verify
marketers’ claims,” she said. ”Marketers just want to make
Nigerians suffer,” she added. The minister also slammed the
marketers for allegedly blackmailing
Nigerians and asked the people to
resist. Insisting that the current fuel scarcity
has nothing to do with paying the
marketers, she said: “They are making
a lot of money from black market
activities, people should rise up
against the blackmail of oil marketers. “I will not pay the N159 billion without
verification, Nigerians should not
allow themselves to be blackmailed.” The minister said there was something
curious about the supply of and
payment for Premium Motor Spirit
(PMS). Her words: “I cannot say that the
problem is due to not paying
marketers, the process of paying
marketers is always a rolling process
and there has never been a time
government reduced its financial obligation to marketers to zero. “In a year where so much effort has
been made to pay marketers including
prioritizing their payment as subsidy
claims in favour of other financial
obligation like paying contractors, yet
fuel scarcity still persists at this particular point in time suggests that
something suspicious is happening.” She responded to the claim by Vice
President-elect, Prof. Yemi Osinbajo,
that the Jonathan administration will
be leaving a $60 billion debt burden
for the in-coming government. She said that Nigeria’s total debt
indeed stands at $63.7 billion but it is
the totality of all the debts incurred by
successive governments since 1960. “No $60 billion was accumulated
under the Jonathan administration,”
she said. She added: “Current debt stock
includes both federal and state
governments debts made up of $9.7
billion external debt or 15 per cent of
total debt stock and $54 billion or 85
per cent domestic debt stock. “Nigeria is still repaying the multilateral
loans it collected on concessionary
terms with as long as 40 years
maturity periods.” The breakdown of the accumulated
domestic stock is $18.575 billion
outstanding by 2007, $17.3 billion
accumulated between 2008 and 2011
and $18 billion accumulated between
2012 and 2015. “This is so because of something that
happened in 2010 because of the
salary increment under Yar’Adua
administration which increased civil
servants salaries by 53 per cent. “Those bonds have been rolled over
and government had to weather the
difficulties because resources to fund
such increase were not there,” she
said. She described Nigeria’s debt to GDP
ratio as one of the lowest in the world. On the domestic debt stock, she said
20 per cent is owed by state
governments with Lagos state having
an external debt burden of N1.169
trillion while the balance of 80 per cent
belongs to the federal government. Reviewing her tenure, Okonjo-Iweala
said she has no regrets in serving the
country and declared that anyone
called upon to serve Nigeria should
consider it a privilege. “Some people criticise from afar but
some came home in spite of
challenges to serve,” she said. She faulted suggestions that the
economy was mismanaged, saying:
“The economy is reacting to the forces
of demand and supply but there is
hope for the country. Only that people
will have to make sacrifices. “The out-going government, she said,
achieved a lot but she lamented that
“there are very serious attempts to
rewrite history.” Meanwhile, there is still no respite for
motorists and commuters across the
country as the fuel scarcity persisted
yesterday. Most filling stations remained shut and
only a few managed to sell but at
exorbitant prices. On the other hand black markets
continue to thrive with operators
charging as much as N350 per litre in
parts of Lagos.
http://thenationonlineng.net/new/okonjo-iweala-vows-not-to-pay-marketers/

I love this!!

I dey come

Dear Yale honourary doctoral degree recepient, its now that their claims are fraudulent??, the faroul lawan investigation debacle didn't throw up any facts abi , issokay... Make una kontinu..

We just have 5 more days to endure you, your gele and your clueless & vindictive oga...

Phinagold:


I dey come

I wish Jonathan saw your 'personal text' and follow its words.

loving this

This girl called Okonjo-iweala again



#

things fall apart,naija which way

modath:
Dear Yale honourary doctoral degree recepient, its now that their claims are fraudulent??, the faroul lawan investigation debacle didn't throw up any facts abi , issokay... Make una kontinu..

We just have 5 more days to endure you, your gele and your clueless & vindictive oga...

As in am glad someone else is seeing beyond the crisis ,that its Jona and his cohorts being vindinctive,but its ok....
Its darkest before the dawn!

After all these years,it is few days for her to leave that she knows the susbsidy payment is fraud? Why hasn't she ordered for an investigation since?

Well,its just few days for the storm to be over. It is well!

Okonjo Iweala,if your principal had won,would you still be saying this same thing? Now tell us,how many of such Exchange rare differential in billions of Dollars have you paid since u assumed that office? Sum it up altogether and give us a figure. Then you will know that it is You,I mean You,NOI,that is the real frauding depleting the resources of this country. alongside your cabal & cartels.
At least,we are all presently enjoying the last phase of the TRANSFORMATION that has been put in place by you and your clueless master. May you live to enjoy the 'rewards' of your handworks

And the marketers say, fu-ck you pay me!

The incompetence of the drunkard administration has been laid bare

politricks:
I wish Jonathan saw your 'personal text' and follow its words.

Bros it will not still change anything

jail is luxury for this frog-eyed bitc.h...

Thank God for 'change'

Then if the fuel scarcity and the suffering of the mases continue, madam puff puff minister must be probe and jailed if this is a deliberate attempt to cause more problem for the incoming government !!!

ok na. Let the show begin. How can Government pay to import fuel and still the marketers make profit from selling instead of the Government.

Something I can't figure out.

These corrupt goons do not even have the figures of the imported products to work with.
It goes to show how hopelessly corrupt and inept they actually are .

The closest solution to all this is the removal of fuel subsidy and in the long term,building and refurbishing our refineries.

God will punish you and your likes

Beremx:
After all these years,it is few days for her to leave that she knows the susbsidy payment is fraud? Why hasn't she ordered for an investigation since?

Well,its just few days for the storm to be over. It is well!

Oloribruku ode when she proposed total subsidy removal in 2012 touts like you were among those dancing and gyrating in ojota during the occupy naija protest. You can't eat your cake and have it at the same time

modath:
Dear Yale honourary doctoral degree recepient, its now that their claims are fraudulent??, the faroul lawan investigation debacle didn't throw up any facts abi , issokay... Make una kontinu..

We just have 5 more days to endure you, your gele and your clueless & vindictive oga...

You see why u will never get an award in ur life? U read but cant understand.

phlemzy:
Okonjo Iweala,if your principal had won,would you still be saying this same thing? Now tell us,how many of such Exchange rare differential in billions of Dollars have you paid since u assumed that office? Sum it up altogether and give us a figure. Then you will know that it is You,I mean You,NOI,that is the real frauding depleting the resources of this country. alongside your cabal & cartels.
At least,we are all presently enjoying the last phase of the TRANSFORMATION that has been put in place by you and your clueless master. May you live to enjoy the 'rewards' of your handworks

Empty barrels make the most noise and seek for likes by criticising pointlessly. They feel the administration is leaving and see this as an opportunity for final looting. They come up with unexplainable and unverified exchange differences and demand payment.

If she goes ahead and makes such payment and later it is discovered that the amount is a false, people like u will say she knew and paid because she has her own share from it.

Hypocrites.

mekaboy:


You see why u will never get an award in ur life? U read but cant understand.

Shush!!!.what a mannerless evil little troll...

Saw a post where you proposed she works as baba's finance minister, really With her textbook approach to economic realities?

Same okonjo worked with OBJ & Nigeria's reserves went up, because he was there to direct her...

She worked with the clueless one and the reserves is in the valley because she didn't have same direction but blind tribal sentiments has made you take leave of your senses !!!

Defending the indefensible...

mekaboy:


Empty barrels make the most noise and seek for likes by criticising pointlessly. They feel the administration is leaving and see this as an opportunity for final looting. They come up with unexplainable and unverified exchange differences and demand payment.

If she goes ahead and makes such payment and later it is discovered that the amount is a false, people like u will say she knew and paid because she has her own share from it.

Hypocrites.

If only u could just be a little reasonable. Spewing thrash in defence of fraud. Perhaps u're an indirect beneficiary. Why is it now that she realised that the said differential is a fraud,why has she not clamoured for it to be scrapped right from the very moment she discovered it. If u think she's voicing this out at the right time,then shame on you.

The comments on this thread reeks of stupidity.

Why can't people see beyond their nose.

So If the marketers submits a bill of 2 trillion naira, the government should just pay them abi.

Nigerians doesn't know what they want, confused species