RZArecta2:
small mkpi suffering from undiluted hate

hahaha

wirinet:
The more I read excerpts from madam world Bank the more disappointed I become. She thinks Nigerians are fools, but it is she that is making a fool of herself.
I wish I could copy and paste some of the ridiculous statements she made in this page.

First the Excess Crude Account is illegal and foreign to the constitution, there are no laws governing it's creation and operation. So anything done in that regard is illegal.

The money in the Excess Crude Account does not belong to the FG, but to all three tiers of government, so even if it was illegally created and managed by the FG, monies cannot be spent from the account without the accent of the three tiers. Okonjo-Iweala is talking like the money is the FGs, to spend or save as she likes.

The book says "He was strongly supported by Governor Adams Oshiomole of Edo state, who was very vocal in his disapproval and suspicions of the Federal Government’s management of the Excess Crude account"
The main problem was the Governors did not trust Okonjo-Iweala and her principal with their money.

Finally, the governors were not after FG's money, they wanted their own money, is it by force to help them save their money for them. What happens to the share of the money controlled by Okonjo-Iweala? Why did she not save the share of the Excess Crude Account under her control?

Stop talking like somebody without sense. Everyone knows the ECA was not constitutional. She was only saying the country should save, what crime is that? However they went ahead to share it, what came out of it from the various states? Nothing.
U should be thanking God Nigeria have a woman like this. If all u see is a bad person then perhaps u are part of Nigeria's problem.
I am thoroughly ashamed of u.

Yes the country should save and 52% was in control of the FG

So why did not the FG save on her watch

n fact the FG share was supposed to be saved BY LAW since the bbudget provided for ECA of the FG 's share . That money should not have been withdrawn without appropriation.
So the fact the governors collected their share dd not mean the FG(she) should break the law(budget) and spend the Fg share. but she did and by the time the oil price crashed the FG was stranded.

That CANNOT be blamed on governors. That is irresponsible.

Governors collected their share under Obasanjo aftr the same pressure but there was still sommething left at the FG level with much lower oil prices then

wirinet:
The more I read excerpts from madam world Bank the more disappointed I become. She thinks Nigerians are fools, but it is she that is making a fool of herself.
I wish I could copy and paste some of the ridiculous statements she made in this page.

First the Excess Crude Account is illegal and foreign to the constitution, there are no laws governing it's creation and operation. So anything done in that regard is illegal.

The money in the Excess Crude Account does not belong to the FG, but to all three tiers of government, so even if it was illegally created and managed by the FG, monies cannot be spent from the account without the accent of the three tiers. Okonjo-Iweala is talking like the money is the FGs, to spend or save as she likes.

The book says "He was strongly supported by Governor Adams Oshiomole of Edo state, who was very vocal in his disapproval and suspicions of the Federal Government’s management of the Excess Crude account"
The main problem was the Governors did not trust Okonjo-Iweala and her principal with their money.

Finally, the governors were not after FG's money, they wanted their own money, is it by force to help them save their money for them. What happens to the share of the money controlled by Okonjo-Iweala? Why did she not save the share of the Excess Crude Account under her control?

Save her own share so that it can be claimed later by the same looting governors?
It is not by writing epistles that one is wise.

wirinet:
The more I read excerpts from madam world Bank the more disappointed I become. She thinks Nigerians are fools, but it is she that is making a fool of herself.
I wish I could copy and paste some of the ridiculous statements she made in this page.

First the Excess Crude Account is illegal and foreign to the constitution, there are no laws governing it's creation and operation. So anything done in that regard is illegal.

The money in the Excess Crude Account does not belong to the FG, but to all three tiers of government, so even if it was illegally created and managed by the FG, monies cannot be spent from the account without the accent of the three tiers. Okonjo-Iweala is talking like the money is the FGs, to spend or save as she likes.

The book says "He was strongly supported by Governor Adams Oshiomole of Edo state, who was very vocal in his disapproval and suspicions of the Federal Government’s management of the Excess Crude account"
The main problem was the Governors did not trust Okonjo-Iweala and her principal with their money.

Finally, the governors were not after FG's money, they wanted their own money, is it by force to help them save their money for them. What happens to the share of the money controlled by Okonjo-Iweala? Why did she not save the share of the Excess Crude Account under her control?

I don't think you read the excerpt. All the questions you are asking, she answered in that page. Why were the governors against saving in the ECA? Of course so they could have easy assess to funds which they'll end up stealing. So they can build a structure for 500 million and tell us it's 5 billion. Because they have easy access to money. This was exactly what GEJ was planning to implement. Arresting this influential men won't readily stop the corruption. As Buhari's administration has proved over the years. But if their access to certain funds can be forestalled and limited, it will help in curbing the servicing of their thieving expenditures.

If you say you don't trust NOI, yet you trust the governors who are allocated billions in the budget and end up owing workers 5, 6, 8 months salary, you must be a joker.

0monnak0da:
If she had saved the FG share of the the ECA she would not have needed to borrow to pay salaries early in 2015

Not early 2015, the idiots started borrowing to pay salaries from September 2014.
It will NEVER be well with their generations

Ole madam finance minister, we are still cleaning up the mess and rancid trash you and Jona left behind, including our $2 billion that you and Jona stole and gave to DASUKI-ATM to share with your crooked and corrupt PDP cronies.


Looting and stealing was going on left and right, NNPC was looting and not remitting funds under your watch while you looked the other way, money generating agencies refused to remit funds into your federal accounts, but you lazy and incompetent woman looked the other way.

We lost billions in uncollected funds due to the cooked waivers you gave to you and Jona's PDP cronies.

You borrowed trillions from your first day in office till your last day in office.

You borrowed hundreds of billions to pay workers salaries days before handing over to PMB.

Armored trucks vacated billions of dollars in the middle of the Night and ferried to Jona's bedroom while you looked the other way.

When oil was selling for $80, you introduced austerity measure and told us to get ready for recession and suffering.

You left us with debt, an empty treasury, recession, and undiversified economy even though they called you the economic coordinator, but the only thing you coordinated was grand corruption and incompetence.

Madam, kindly STFU and apologize to Nigerians for your gross incompetence, looting and stealing collusion and abdication of duty.


Writing books and bothering Nigerians with rumors and innuendoes about heated meetings and discussions doesn't alter the fact that you failed as a human being and as a public official and I hope and pray that people like are never hired to run or manage any government position, ever.

jjmk:


Stop talking like somebody without sense. Everyone knows the ECA was not constitutional. She was only saying the country should save, what crime is that? However they went ahead to share it, what came out of it from the various states? Nothing.
U should be thanking God Nigeria have a woman like this. If all u see is a bad person then perhaps u are part of Nigeria's problem.
I am thoroughly ashamed of u.

Why didn't she save the FG share directly under her control when the state withdrew theirs?
Receive sense in Jesus Name

0monnak0da:
If she had saved the FG share of the the ECA she would not have needed to borrow to pay salaries early in 2015

If she saved the federal government share, the same lousy looter governors would have asked that it be shared with all of them.

wirinet:
The more I read excerpts from madam world Bank the more disappointed I become. She thinks Nigerians are fools, but it is she that is making a fool of herself.
I wish I could copy and paste some of the ridiculous statements she made in this page.

First the Excess Crude Account is illegal and foreign to the constitution, there are no laws governing it's creation and operation. So anything done in that regard is illegal.

The money in the Excess Crude Account does not belong to the FG, but to all three tiers of government, so even if it was illegally created and managed by the FG, monies cannot be spent from the account without the accent of the three tiers. Okonjo-Iweala is talking like the money is the FGs, to spend or save as she likes.

The book says "He was strongly supported by Governor Adams Oshiomole of Edo state, who was very vocal in his disapproval and suspicions of the Federal Government’s management of the Excess Crude account"
The main problem was the Governors did not trust Okonjo-Iweala and her principal with their money.

Finally, the governors were not after FG's money, they wanted their own money, is it by force to help them save their money for them. What happens to the share of the money controlled by Okonjo-Iweala? Why did she not save the share of the Excess Crude Account under her control?

Okonjo Iweala is a complete failure.

aribisala0:
Yes the country should save and 52% was in control of the FG

So why did not the FG save on her watch

n fact the FG share was supposed to be saved BY LAW since the bbudget provided for ECA of the FG 's share . That money should not have been withdrawn without appropriation.
So the fact the governors collected their share dd not mean the FG(she) should break the law(budget) and spend the Fg share. but she did and by the time the oil price crashed the FG was stranded.

That CANNOT be blamed on governors. That is irresponsible.

Governors collected their share under Obasanjo aftr the same pressure but there was still sommething left at the FG level with much lower oil prices then

The same Obasanjo who withheld the LGA money for Lagos state even after the Supreme Court ordered the release?
Obasanjo was and remains a lawless baboon who should dwell in a zoo.

phase1:


You yorubas claim the ECA is illegal, yet Aregbe and Oshiomhole your govenor were busy harrassing and haranguing Okonjo for the money, they pressured and pressured until they had their hands in the pie and ended up using the money for faaji, stomach infrastructure, Iresi Aregbe, owambe.

When they exhausted the money, osun became IDP capital of yorubaland and Aregbe was looking confused like a diseased goat and couldn't blame FG anymore for not being able to pay salaries as he usually did to GEJ and Okonjo.

Goatee-wearing Aregbebuffoon can't eat his cake and still have it.

It is not a claim, the ECA is illegal. According to the Nigerian constitution, a revenue accrued the federation must be paid into the consulated revenue account from where it will be shared by the 3 tiers of government according to the revenue sharing formula. The illegal ECA account was created by Obasanjo and through his tenure the governors were at loggerheads with Obasanjo. They threatened severally to take the FG to court, but Obasanjo was able to manage the situation. If the case should ever go to court, the FG would lose as the constitution does not make provision for ECA.
During Jonathan however, the governors rebelled against the ECA again and threatened to go to court, primarily because the accuse the FG of dipping hands into the ECA without their knowledge or consent. So Madam world Bank was forced to share some portion (not all ) of the ECA.
Now according to the revenue sharing formula, the FG gets about 52%, while the states together gets about 24%. This means Aregbesola only gets 1/36 of 24% of the money, so I wonder why you guys free Okonjo-Iweala and her oga and instead is obsessed with Aregbesola.

jjmk:


Stop talking like somebody without sense. Everyone knows the ECA was not constitutional. She was only saying the country should save, what crime is that? However they went ahead to share it, what came out of it from the various states? Nothing.
U should be thanking God Nigeria have a woman like this. If all u see is a bad person then perhaps u are part of Nigeria's problem.
I am thoroughly ashamed of u.

Something came out of it na.
Half salaries and zero pensions for several years. Is that not something?
The economic dullard who claims to be fighting corruption gave the thief thief governors bailout again instead of asking them to account for their revenues. Can it be that he knows that was part of the corrupt money used to sponsor his campaign

seguno2:


The same Obasanjo who withheld the LGA money for Lagos state even after the Supreme Court ordered the release?
Obasanjo was and remains a lawless baboon who should dwell in a zoo.

The exact same Obasanjo.

The very same Obasanjo under whom she served as Finance Minister when the withholding took place and she was the one who actually did the withholdng without qualms.

So if she served under a baboon I wonder what kind of animal she is and where she should dwell??

Let us leave stories

The fact is the ECA was started by Obasanjo and was substantial even though receipts were much lower than under GEJ. Obsanjo never had $70 oil but still paid off our debt at the same time

wirinet:
The more I read excerpts from madam world Bank the more disappointed I become. She thinks Nigerians are fools, but it is she that is making a fool of herself.
I wish I could copy and paste some of the ridiculous statements she made in this page.

First the Excess Crude Account is illegal and foreign to the constitution, there are no laws governing it's creation and operation. So anything done in that regard is illegal.

The money in the Excess Crude Account does not belong to the FG, but to all three tiers of government, so even if it was illegally created and managed by the FG, monies cannot be spent from the account without the accent of the three tiers. Okonjo-Iweala is talking like the money is the FGs, to spend or save as she likes.

dude are u kidding?
Then why the deafening noise of GEJ not saving.
why can't the same govs who forced the money to be spent disturbing our ears with the blame on Jonathan not saving.

we really have selective dementia in dis contribute.

it scares me that more than 70 pple even liked ur comment.

And people still support these men!

What did Amaechi do with his ? Bought a Jet for his state while he kept the rest to fund APC - what a wise man! And the Osun thug?? We know the rest

ifyboy60:

dude are u kidding?
Then why the deafening noise of GEJ not saving.
why can't the same govs who forced the money to be spent disturbing our ears with the blame on Jonathan not saving.

we really have selective dementia in dis contribute.

it scares me that more than 70 pple even liked ur comment.

Talk from now till tomorrow they won't hear
Am beginning to think zombies actually exist

If Okonjo-Iweala blamed some governor for depleting the Excess Crude Reserve, who would she blame for depleting the External Reserve?


The

The governors did not force THE money to be spent.

They forced THEIR own SHARE money to be handed to them to manage

How did the FG manage its share.
That is what federalism is about.

The states are dfferent from the FG


they are different governents.

Some governors managed their money well while others ddi not.

No one forced the FG to spend its share

Jolar101:


You lacks comprehension memory.

And you are a loquacious oaf, run along now you have been noticed

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Suplexx:
If Okonjo-Iweala blames some governor for depleting the Excess Crude Reserve, who would she blame for depleting the External Reserve?

Abeg helep me ask them, did the governors also force her to spend the FG's share of the ECA, which stood at over half of the total ECA amount

Suplexx:
If Okonjo-Iweala blames some governor for depleting the Excess Crude Reserve, who would she blame for depleting the External Reserve?

I don't think the external reserve is relevant.. It is not government moneybut CBN money. Its depletion is a reflection of import demand and our lack of manufacturing capacity

External Reserves are NOT savings at all.Do not let the term "reserve" mislead you


If we have I trillion naira in circulation that 1 trillion is a CBN liability and the external reserves are CBN assets so effectively if you own 1 million then you have a share of the external reserve because the naira( CBN debt) only has value if backed up by CBN assets.

TonyeBarcanista:
Interesting...

So Akpabio supported sharing of ECA funds? Or is it my eyes deceiving me?

Why was he posing as if it was only Amaechi and Oshiobaba that were against it?

Anyway, I was against the depletion of ECA then and still against it. But the culprits are the FG then and all the Governors save Peter Obi.

I can bet my last dime that the only governor out of the pack of 36 who supported saving in the ECA was Peter Obi.

Since this issue arose, there's been one lame attempt after another to skew the narrative along political lines. NOI in her write-up mentioned "MOST GOVERNORS", but when given an opportunity to mention names, they always conveniently just mention 2 or 3 APC governors.

You are surprised that Akpabio was involved? ... if up to 28 of the 36 governors at the time were PDP, and the narrator said "MOST GOVERNORS", then yoir guess is as good as mine.

wirinet:
It is not a claim, the ECA is illegal. According to the Nigerian constitution, a revenue accrued the federation must be paid into the consulated revenue account from where it will be shared by the 3 tiers of government according to the revenue sharing formula. The illegal ECA account was created by Obasanjo and through his tenure the governors were at loggerheads with Obasanjo. They threatened severally to take the FG to court, but Obasanjo was able to manage the situation. If the case should ever go to court, the FG would lose as the constitution does not make provision for ECA.
During Jonathan however, the governors rebelled against the ECA again and threatened to go to court, primarily because the accuse the FG of dipping hands into the ECA without their knowledge or consent. So Madam world Bank was forced to share some portion (not all ) of the ECA.
Now according to the revenue sharing formula, the FG gets about 52%, while the states together gets about 24%. This means Aregbesola only gets 1/36 of 24% of the money, so I wonder why you guys free Okonjo-Iweala and her oga and instead is obsessed with Aregbesola.

Are you saying that Obasanjo was a lawless monkey who should have been impeached?
Did Obasanjo not dip his ugly hands into the ECA and steal to his heart’s desire? Or what money did he use to revive his bankrupt farm in Ota and build Bells schools and University?

Suplexx:
If Okonjo-Iweala blames some governor for depleting the Excess Crude Reserve, who would she blame for depleting the External Reserve?

Before we even go to external reserves, let's concentrate on the FG's lion (52%) share of the same ECA; who do we blame for vaporizing that chunk too?... Maybe Amaechi must have also charmed Oga Jona.

Meanwhile isnt it suspicious that at the time, PDP had up to 28 of the 36 governors, but whenever the story is preached, they only just carefully mention names of a bunch of APC governors.

Saving is not an act of piety or virtue.

The FG needed to save for different reasons from states. So let us not make saving to be a moral issue.

Te FG is responsibble for the national economy, exchange rates foreign investor confidence and so on besides its share of the ECA is 52%. So there was an overwhelming need for the FG to save. This was equally true for weak states or states that were excessively dependent on crude revenue.

Lagos state does not need to save because its dependence on crude is little and it is still expanding. Different entities are in different situations.

The FG on the other had under Iweala failed to expand non oil receipts and was exceedingly dependent on oil so IT needed to save like many other states

Madam, you are being economical with the truth. The reason the governors were asking for the money to be shared was that the money in the fund was depleting at each meeting. You and your boss were withdrawing from the accounts without the approval of the states who were co Owners. It happened on several occasions which made the governors you listed to start shouting that if the safety of the fund can no longer be guaranteed, its better the money be shared so that each state can determine what to do with their own. Infact, you proved that you are not a good manager of resources while you reighned as the finance minister of Nigeria.

aribisala0:


The exact same Obasanjo.

The very same Obasanjo under whom she served as Finance Minister when the withholding took place and she was the one who actually did the withholdng without qualms.

So if she served under a baboon I wonder what kind of animal she is and where she should dwell??

Let us leave stories

The fact is the ECA was started by Obasanjo and was substantial even though receipts were much lower than under GEJ. Obsanjo never had $70 oil but still paid off our debt at the same time

I thought that Obasanjo moved her to Foreign Affairs and she resigned
How do you know that she did not offer appropriate advice, which Obasanjo rejected that led to her final disengagement?
Please stick with the facts.
Cheers

aribisala0:
I don't think the external reserve is relevant.. It is not government moneybut CBN money. Its depletion is a reflection of import demand and our lack of manufacturing capacity

External Reserves are NOT savings at all.Do not let the term "reserve" mislead you


If we have I trillion naira in circulation that 1 trillion is a CBN liability and the external reserves are CBN assets so effectively if you own 1 million then you have a share of the external reserve because the naira( CBN debt) only has value if backed up by CBN assets.

The external reserve helps to stabilize the value of the naira. Iweala said the reverses are savings for rainy day.

Was she not the One who was finance minister during obasanjo time when we payed our foreign debt. If she is that bad as some people here arguing base on sentiments....how come 3 previous civilian administration asked her to work with them. I Can tell you that my state is heavily in debted because of Adams Oshiomhole, and the funds he collected from ECA he used in building his school at his village and keeping elsewhere. When Gej removed subsidy back then, i was fully in support but my voice was like 1 against 1 billion. Today i wonder why are not even dancing on the streets. The reason why we could shout about corruption then was because we were still eating. Today we can't even shout again, no power to shout because no food. I don't know much about economics but what i know here is that the hardship now is so severe..i wondered how Gej would have been able to cover his tracks if he had won the elections since this government blames him for emptying the treasury.

[quote author=MADBUTTERFLY post=67049168][/quote]

Nobody is throwing blames but when you are writing a book about problems you faced, you should also say how you solved those problems.


Standard interview question in almost all organizations is "Talk about a conflict you faced in the work place and how you resolved it". I haven't read the book so I don't know if she said how she went about resolving it but if she didn't then what's the purpose of the book?