Details of how former co-ordinating minister of the economy, Dr. Ngozi Okonjo Iweala, approved the sharing of Abacha loot by former National Security Adviser, Col. Sambo Dasuki (retd) have emerged.

The details were brought to the fore by an online news platform Premium Times.

In a letter to former President Goodluck Jonathan dated January 20th, the then minister  intimated him of a request from the National Security Adviser for the disbursement of funds to acquire weapons to combat Boko Haram. The Minister knew that this request was outside the scope of the law and she disavowed her ministry from having anything to do with the further monitoring of the requested funds upon approval.


“Please find a request by the National Security Adviser (NSA) for the transfer of $300 million and £5.5 million of the recovered Abacha funds to an ONSA [Office of the National Security Adviser] operations account,” the letter read.

“The NSA has explained that this is to enable the purchase of ammunition, security, and other intelligence equipment for the security agencies in order to enable them fully confront the ongoing Boko Haram threat.

“His request is sequel to the meeting you chaired with the committee on the use of recovered funds where the decision was made that recovered Abacha funds would be split 50-50 between urgent security needs to confront Boko Haram and development need (including a portion for the Future Generations window of the Sovereign Wealth Fund).”

“This letter is to seek your approval to borrow these funds, for now, to disburse to the NSA. These funds form part of the projected Federal Government Independent Revenue, to be appropriated, in the light and for accountability, given the peculiar nature of security and intelligence transactions, we would expect the NSA to account to Your Excellency for the utilisation of the funds

Late General Sani Abacha is estimated to have stolen $5 billion from Nigeria during his brutal military regime in the mid to late 90’s. Some of the money the ex-dictator stashed abroad was returned after intense lobbying and legal action which commenced during the Obasanjo administration.

Under the Fiscal Responsibility Act of 2007, the President is not allowed to unilaterally approve such expenditure without input from the National Assembly.



Source : http://www.theheraldng.com/full-text-okonjo-iwealas-letter-approving-sharing-abacha-loot-dasuki/?utm_source=&utm_medium=twitter

what's this

Stup1d is what Stup1d does. While the international business community is indirectly telling us to quickly fire this government, the progressive comedians are running around like headless chickens, looking for how to further drown themselves. The prisons will be so full next year. I have secured a spot for Fashola in Kirikiri, while Amaechi's noose has already been purchased.

Great!

hmmmn ! Madam Ngozi, you were co-ordinating corruption ??

I don't believe

make una steal everything,I knw ma God is watching

chinchum:
hmmmn ! Madam Ngozi, you were co-ordinating corruption ??

lol.. Coordinating Goat minister of the yam-eating competition

I don't believe it.


Abacha did not steal any money... M. Buhary

So which Abacha loot were they sharing

So what is wrong with the letter? At times I wonder if people do make use of their common senses!! So the finance minister approving money used to procure weapons to combat terrorists is now corruption?

I am still waiting for someone to prove to me that this money was not actually used to procure weapons but all am seeing here are just empty rants!!

Until Dasuki comes to court to give his own side of the story we will continue to listen to media rants!! This was the same thing with Diezani before the police police came out to say they are not filing charges against her.

Ngozi Okonjo Iweala, PhD is next

Madam Puff Puff Ngozi has questions to answer

The amount of money stuffed between those fat cheeks is unreal

Wicked woman.

Madam Puff Puff is a FAT liar

How can you say that the money was borrowed funds? The obese woman even said that she was not part of the security council? But all the money voted to the Military and Security Agencies had to go through your office mama?

Where was the oversight? You are a irresponsible woman and should be ashamed of yourself.

Can you try this at the World Bank? NO!!

You willfully participated in the financial crimes against the Nigerian people. Stop making useless excuses!

Corrupt fat woman.

To be fair, I don't see anything here that implicates the former Minister of Finance.

Yes, we can speculate on the morality of handing such enormous amount of public funds for a project that has no clear accountability overview but in that letter, she clearly transferred culpability to the Ex-President GEJ. Remember that Ngozi is an experienced administrator and understands the importance and significance of paper trail.

It is becoming clearer that GEJ was neck deep in these misallocation of resources. I am really surprised he has not been invited for questioning by the EFCC.

Chukwudi44: There is nothing in that letter that suggests corruption either on the part of the NSA,GEJ or Dasuki!! It would only become corruption if it is eventually proved that the moies were released and the weapons were not procured!!

Sir,

The disbursement of funds is in violation of the Nigerian constitution

Under the Fiscal Responsibility Act of 2007, the President is not allowed to unilaterally approve such expenditure without consent from the National Assembly.

GEJ did not consult the National assembly before authorizing the disbursement of public funds above stipulated thresholds. It has now come to light that, at least majority, maybe all of the disbursement was not used for the intended purpose.

Saturn213:
To be fair, I don't see anything here that implicates the former Minister of Finance.

Yes, we can speculate on the morality of handing such enormous amount of public funds for a project that has no clear accountability overview but in that letter, she clearly transferred culpability to the Ex-President GEJ. Remember that Ngozi is an experienced administrator and understands the importance and significance of paper trail.

It is becoming clearer that GEJ was neck deep in these misallocation of resources. I am really surprised he has not been invited for questioning by the EFCC.

There is nothing in that letter that suggests corruption either on the part of the NSA,GEJ or Dasuki!! It would only become corruption if it is eventually proved that the moies were released and the weapons were not procured!!

Until any evidence of financial malfeasance surface,this letter is nothing.Anyone who thinks he has found a smoking gun against NOI based on this letter is a very big fool and needs to have his school fees refunded

Saturn213:
To be fair, I don't see anything here that implicates the former Minister of Finance.

Yes, we can speculate on the morality of handing such enormous amount of public funds for a project that has no clear accountability overview but in that letter, she clearly transferred culpability to the Ex-President GEJ. Remember that Ngozi is an experienced administrator and understands the importance and significance of paper trail.

It is becoming clearer that GEJ was neck deep in these misallocation of resources. I am really surprised he has not been invited for questioning by the EFCC.

And fashola's 78,000,000 website earned him a treble ministerial portfolio

chei

praxisnetworks:

And fashola's 78,000,000 website earned him a treble ministerial portfolio

Let me guess, the op is looking for husband and she prefers married men as single men are not available.

Please does anyone know where I can get the full 2006 census data for free?

I need it for a project urgently, thanks in advance.

tpiar:
Let me guess, the op is looking for husband and she prefers married men as single men are not available.

How does the topic relates to marriage

Okay.

praxisnetworks:

And fashola's 78,000,000 website earned him a treble ministerial portfolio

How the e-goats ignore this post is baffling!

chukwudi44:
So what is wrong with the letter? At times I wonder if people do make use of their common senses!! So the finance minister approving money used to procure weapons to combat terrorists is now corruption?

What's wrong? This here is the problem with you people with zero knowledge or any kind of civic education per how the 3 arms of government function.

Only the Nigerian congress is allowed under the constitution of the federal republic of Nigeria to approve or transfer funds.

What they did was illegal and against the law.


Btw, did you skip social studies in elementary school or they stopped teaching that subject.

arresa:



What's wrong? This here is the problem with you people with zero knowledge or any kind of civic education per how the 3 arms of government function.

Only the Nigerian congress is allowed under the constitution of the federal republic of Nigeria to approve or transfer funds.

What they did was illegal and against the law.


Btw, did you skip social studies in elementary school or they stopped teaching that subject.

They same thing Buhari did by disbursing over N400billion o state Govs as bailout funds without recourse to the NASS

hinwazaka:
I have secured a spot for Fashola in Kirikiri, while Amaechi's noose has already been purchased.

What about GEJ? Just free him?

Sadly, this woman occupied the finance minister position as a figurehead, she was a total waste and burden on the Nigerian taxpayers who paid her for doing nothing.

Billions was disappearing left and right, but the woman in charge of our money looked the other way, she fakes ignorance over everything as if she wasn't in charge of our money.

She looked the other way while NNPC stashed our money in illegal bank accounts, she looked the other way and couldn't account for anything from what's leaving and entering our federal accounts, she had no clue or was just playing dumb about missing oil money till SLS spoke up before finally admitting that $10 billion was missing.

This woman should have been sacked a long time ago, but looting and stealing was normal under her boss who's concept and motto was Stealing Is Not Corruption..

[s]

chukwudi44:


They same thing Buhari did by disbursing over N400billion o state Govs as bailout funds without recourse to the NASS

[/s]


You must have pulled that from your Assx..

Hmmmn one naija called Abacha stolen money is enough to buy arms and develop the country...this our leader na wa.

arresa:
[s][/s]


You must have pulled that from your Assx..

I actually wish i did,the amount involved is even over N700billion and not N413billion

https://www.nairaland.com/2454973/rep-sues-fg-over-n713billion

arresa:
Sadly, this woman occupied the finance minister position as a figurehead, she was a total waste and burden on the Nigerian taxpayers who paid her for doing nothing.

Billions was disappearing left and right, but the woman in charge of our money looked the other way, she fakes ignorance over everything as if she wasn't in charge of our money.

She looked the other way while NNPC stashed our money in illegal bank accounts, she looked the other way and couldn't account for anything from what's leaving and entering our federal accounts, she had no clue or was just playing dumb about missing oil money till SLS spoke up before finally admitting that $10 billion was missing.

This woman should have been sacked a long time ago, but looting and stealing was normal under her boss who's concept and motto was Stealing Is Not Corruption..

So far the APC led government has not been able to prove anything agsinst her so STFU

Saturn213:
To be fair, I don't see anything here that implicates the former Minister of Finance.

Did she receive a documented approval from GEJ before disbursing the funds and can prove it? If she didnt, then she's likely a person of interest. GEJ already denied knowing about the $2.1b arms saga while Dasuki said he received verbal approval from GEJ. Verbal approvals don't hold water here, facts need to be documented - letters, emails etc.
Same works here, if she only received verbal approval from GEJ to disburse the Abacha loot to the NSA and that can't be proven, GEJ can deny any knowledge of the transaction and madam may need to clear her name or face what Dasuki is facing.

She may have just been a mule, but her role was critical to the survival of Nigeria.