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Re: The False Accusations Against Ngozi Okonjo Iweala by lilfizzie: 2:51pm On May 23, 2015 |
@Op, u were wrong with d statement"ceremonial title". d coordinating minister of d economy is not a ceremonial title, its actually a duty of the vice president but jonathan believed 'madam know it all ' will handle the job better nd stripped d vp of his constitutional duty. |
Re: The False Accusations Against Ngozi Okonjo Iweala by HiGod: 2:58pm On May 23, 2015 |
Sweetguy25: It's quite sad to see an idiott trying out of stupidity to defend the most useless Minister of Finance of all time in Nigeria. She was the coordinating Minister of our economy for 5yrs or thereabout for cry out and loud 4 Likes |
Re: The False Accusations Against Ngozi Okonjo Iweala by DonDiego(m): 3:01pm On May 23, 2015 |
yemjazz: Depleted to assuage the blackmail of your dearest progressive governors for it to be shared only for them to steal their states' allocations afterwards, ramp up huge debts for their states and abandon their states' workers with several months of unpaid salaries. I suspect that those are also NOI's fault. |
Re: The False Accusations Against Ngozi Okonjo Iweala by ican2020: 3:04pm On May 23, 2015 |
socialmediaman: On increased wages, blame Federal Civil Service Commission that keep on employing people without due process. Over 1000 persons where giving appointment letters through the back door by this useless organization and this is verifiable I expected GMB to setup task force to probe how these people where employed without following due process from 2003 to date. |
Re: The False Accusations Against Ngozi Okonjo Iweala by Sweetguy25: 3:05pm On May 23, 2015 |
seivey: 1. Okonjo served in a government that chose to pursue an expansionary fiscal policy. Jonathan's government chose to increase spending to boost economic growth and productivity. Have you ever looked at budget of Nigerian states from 1999 to 2007 and from 2007 till date? If you do, you'll find out that there has been an enormous increase in government spending especially from 2009 till date. Okonjo couldn't save because there were critical expenditure pressures on the federal government. This was unlike Obasanjo's government when minimum wage was 9000 naira, corpers were paid 8000 naira per month and general recurrent spending was low. Government spending increased under goodluck Jonathan than any other administration, this is not necessarily due to corruption. 2. Diversifying the economy to reach its full revenue potential is not a task that can be fulfilled in 4 years. No country has achieved that in four years. 3. It was under Ngozi that our GDP was rebased to be the biggest economy in Africa. 4. Job creation and industrialization are not directly the mandate of the finance minister. This is why I called out the CBN. We have a very poor credit system in Nigeria and the CBN should be blamed first before anybody else. No country can develop when interest rates are 18 percent. 3. |
Re: The False Accusations Against Ngozi Okonjo Iweala by DonDiego(m): 3:08pm On May 23, 2015 |
rman: Kettle calling pot black. 1 Like |
Re: The False Accusations Against Ngozi Okonjo Iweala by Nobody: 3:14pm On May 23, 2015 |
Jklue007: Ur governors r trying to shift the blame of their theft n mismanagement to Mrs Iweala. U just saw the duties of a finance minster, I'm really wandering what ur arguing. 1 Like |
Re: The False Accusations Against Ngozi Okonjo Iweala by Nobody: 3:16pm On May 23, 2015 |
Jklue007: Is that your well thought out reply to his intelligent write up? "U sef think am"?? . Seriously? 2 Likes |
Re: The False Accusations Against Ngozi Okonjo Iweala by DonDiego(m): 3:16pm On May 23, 2015 |
[quote author=Babalegba post=34023523][/quote] The biggest supporters of corrupt politicians based only on ethnic and atavistic reasons are themselves the first to accuse others of their own very vices. You really need to look at yourself in the mirror. You will not like what you'll see. |
Re: The False Accusations Against Ngozi Okonjo Iweala by mikolo80: 3:17pm On May 23, 2015 |
All this grammar to support your sugar mummies. Awo was not an accountant but one kobo he did not borrow. Noi despite realising our problem with recurrent expenditure and escorting obasanjo to get debt relief decided to perform the role her world bank masters sent her to do by selling nigeria(collecting loans that will/have been looted and you and your children will pay for a long time 60billion dollars no be mai mai ) 3 Likes 1 Share |
Re: The False Accusations Against Ngozi Okonjo Iweala by tochukwuifeduba: 3:20pm On May 23, 2015 |
Dr Ngozi Okonjo Iweala Receive Award From World Best Harvard UniversitY SIGN THE PETITION BELOW IF YOU SUPPORT THE CALL TO IGNORE THOSE CALLING FOR THE YALE UNIVERSITY AWARD OF NGOZI IWEALA TO BE WITHDRAWN.. https://www.change.org/p/yale-university-ignore-the-call-for-stripping-dr-ngozi-okonjo-iweala-of-the-doctorate-of-humane-letters-presented-to-her-on-monday-may-18-2015-during-yale-s-commencement-ceremony-in-new-haven-connecticut-alongside-eight-others?recruiter=57068101&utm_source=share_petition&utm_medium=facebook&utm_campaign=share_page&utm_term=mob-xs-no_src-no_msg&fb_ref=Default Ngozi Okonjo-Iweala (born 13 June 1954) is a globally renowned Nigerian economist best known for her two terms as Finance Minister of Nigeria (her current position) and for her work at the World Bank, including several years as one of its Managing Directors (October 2007 – July 2011). She briefly held the position of Foreign Minister of Nigeria in 2006. In 2007, Okonjo-Iweala was considered as a possible replacement for former World Bank President Paul Wolfowitz.Subsequently, in 2012, she became one of three candidates in the race to replace World Bank President Robert Zoellick at the end of his term of office in June 2012.On 16 April 2012 it was announced that she had been unsuccessful in her bid for the World Bank presidency, having lost to the US nominee, Jim Yong Kim. This outcome had been widely anticipated.[6] However, this was the first contested election for World Bank president after the demise in 2010 of the Gentlemen's agreement that the US would appoint the World Bank president and Europe would appoint the managing director of the International Monetary Fund. Okonjo-Iweala is an Igbo from Ogwashi-Uku, Delta State, where her father Professor Chukuka Okonjo is the Obi (King) from the Umu Obi Obahai Royal Family of Ogwashi-Uku. Okonjo-Iweala was educated at the International School Ibadan and Harvard University, graduating magna cum laude with an AB in 1977, and earned her PhD in regional economic development from the Massachusetts Institute of Technology (MIT) in 1981. She received an International Fellowship from the American Association of University Women (AAUW) that supported her doctoral studies.[9] She is married to Ikemba Iweala from Umuahia, Abia State,and they have four children. The eldest, Onyinye Iweala received her PhD in Experimental Pathology from Harvard University in 2008 and graduated Harvard Medical School in 2010. Her son, Uzodinma Iweala, is the author of the critically acclaimed novel Beasts of No Nation (2005) and the newly released thoughts on the HIV/AIDS epidemic in Africa [Our Kind of People] (2012). Ngozi Okonjo-Iweala, at the 2004 Spring Meetings of the International Monetary Fund and the World Bank Group Prior to her ministerial career in Nigeria, Okonjo-Iweala was vice-president and corporate secretary of the World Bank Group. She left it in 2003 after she was appointed to President Obasanjo's cabinet as Finance Minister on 15 July 2003. In October 2005, she led the Nigerian team that struck a deal with the Paris Club, a group of bilateral creditors, to pay a portion of Nigeria's external debt (US$12 billion) in return for an $18 billion debt write-off. Prior to the partial debt payment and write-off, Nigeria spent roughly US$1 billion every year on debt servicing, without making a dent in the principal owed. However, following years of mismanagement under her watch, the combined domestic and external debt of the Federal Government is in excess of $40 billion by the end of 2014. Add to this the fact that abandoned capital projects littered all over the country amount to over $50 billion. No word yet on other huge contingent liabilities. If oil prices continue to fall, it was said that Nigeria will soon have a heavy debt burden even with low debt to GDP ratio. Okonjo-Iweala also introduced the practice of publishing each state's monthly financial allocation from the federal government in the newspapers. This action went a long way in increasing transparency in governance. She was instrumental in helping Nigeria obtain its first ever sovereign credit rating (of BB minus) from Fitch and Standard & Poor's. Nigeria is considered to have defaulted on its sovereign debt in 1983 (debt rescheduling is considered a type of default by rating agencies). Some controversy surrounded Okonjo-Iweala's appointment as Finance Minister, and that of Foreign Affairs minister, Olu Adeniji, United Nations over the payment of their salary in dollars. Okonjo Iweala and Olu Adeniji were paid US$240,000, compared with their own $6,000 base salary. The controversy was spearheaded by reform-minded media reports, although Okonjo-Iweala felt that her critics were unjustified because of the temporary nature of the payment, which came out of the donor-supported Diaspora Fund negotiated by the Nigerian government.[14] On Friday, 20 July 2007, the Court of Appeal ruled that the salary payment was not done within the ambit of Nigeria's laws, and directed her and Adeniji to pay back the excess to the account of the state. Both Okonjo-Iweala and the Federal Government of Nigeria have appealed the case to the Supreme Court, and judgement is pending. The appeal is on the basis that the appeal court made its judgment due to erroneous information provided to it that the Nigerian government was making the salary payments, when in fact it was not. She resigned as Nigeria's Foreign Minister on 3 August 2006 following her sudden removal as head of Nigeria's Economic Team by former President Olusegun Obasanjo. She left that administration at the end of August 2006.[citation needed] On 4 October 2007, World Bank President Robert Zoellick appointed her to the post of managing director, effective 1 December 2007. In 2011, Okonjo-Iweala was reappointed as Minister of Finance with the expanded portfolio of the Coordinating Minister for the Economy by President Goodluck Jonathan. She took a lot of heat, more-so than any other government official for the unpopular fuel subsidy removal policy by the Nigerian government which led to Occupy Nigeria protests in January 2012. During her confirmation as a Minister, she stressed the need to reduce the country's recurrent expenditure which is presently 74% of the National Budget and embark on capital projects which could improve the 14% unemployment rate in the country.In her role as the Coordinating Minister For the Economy and Minister of Finance, she has extensive influence/exercise to shape the direction of the Jonathan economic team and the transformation agenda.This indubitably makes Okonjo-Iweala responsible for the success or failure of Mr. Jonathan's economic policies. Under her watch, Nigeria overtook South Africa as the largest economy in Africa with a GDP of 510 billion dollars. Unfortunately, it is widely believed that things are not going well with Nigeria's economy. The country's foreign reserves instead of increasing is actually grossly below what Jonathan's administration inherited despite an average oil price of between $105 – $120 during this period. President Olusegun Obasanjo met about $5 billion in foreign reserves, and the average monthly oil price for the 72 months he was in office was $38, he left $43 billion in foreign reserves after paying $12 billion to write off Nigeria's external debt. In an article a former Governor of the Central Bank of Nigeria, and a world class economist, said that by his calculation, if the economy had been properly managed, the nation's foreign reserves, which now stand at about $30 billion, should have been between $102 and $118 billion and the exchange rate around N112 before the fall in oil prices towards the end of 2014. He said even with the fall in oil price, objectively, the reserves should be around $90 billion and exchange rate, not higher than N125 per US dollar. In 2007, Okonjo-Iweala's NGO, NOI Global Consulting, partnered with the Gallup Organization to introduce an opinion poll, the NOI poll, into the Nigerian polity.[19] She is a fellow at the Brookings Institution.[20] Okonjo-Iweala also serves on the Advisory Board of Global Financial Integrity and on the board of directors of the World Resources Institute. In 2011 Ngozi Okonjo Iweala was called back to Nigeria by President Goodluck Jonathan to head the economic team as Nigeria's Finance minister. It was from this position that she contested the presidency of the World Bank. She received support for her ultimately unsuccessful campaign from a number of former World Bank employees and from publications including The Economist, The Financial Times and Newsweek, which said: "If competition follows normal process, Kim stands no chance [against Ngozi Okonjo Iweala]."[citation needed]. Nigeria's BusinessDay newspaper also published an article ("World Bank Presidency – a question of politics or ability?"winkby guest writer, Olu Omoyele, in which he states that Okonjo-Iweala's "credentials for the job are...outstanding" and added that "she has a well developed network of academic, political and economic relationships across the world which should aid her in dealing with the challenges an institution like the World Bank."
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Re: The False Accusations Against Ngozi Okonjo Iweala by Sweetguy25: 3:23pm On May 23, 2015 |
philips70: The title didn't add anything special to her duties a minister of finance. Just that she had the authority to formulate and implement certain programmes that were not directly under the scope of her portfolio. E.g. Setting up programmes, policies and institutions like YouWin, GWin, Sure-P, NMRC and others. On Soludo and Rewane, I don't know better than them and neither do they know better than Okonjo Iweala. |
Re: The False Accusations Against Ngozi Okonjo Iweala by nonaira: 3:30pm On May 23, 2015 |
Why waste time explaining things to the children of hate. Let the Yoruba sign as much petition as they like, it won't affect NOI one bit. Afterall, her prestigious background speaks for her. She's gotten more awards than any Nigerian in this century. She even posses awards from Harvard sef. Let the Yoruba try to pull her down, it's not going to work. The princess of Ogwashi-uku is in a higher level than they'll ever be. 1 Like |
Re: The False Accusations Against Ngozi Okonjo Iweala by Eruditor: 3:37pm On May 23, 2015 |
elohorayodele: I don't hold briefs for SLS but I need to clear the air on his supposed "varying amounts" of missing money. SLS wrote a letter to GEJ saying that NNPC had not remitted $49B. He could have directed it to Deziani instead but you and I know she listened to only GEJ during her time as Minister. GEJ did nothing about the letter till 6 months later when it leaked. A NA probe panel was setup in which he then declared the unremitted amount to be $20B at this point. NOI claimed it was $10.8B and not $20B. They (her and Deziani) claimed that $9.9B was used for Kerosene subsidy. SLS didn't refute it until the second meeting they held where he insisted it was $20B. At this point Deziani, MD NNPC and NOI had claimed no money was missing at all as they came up with different flimsy and unsubstantiated reasons for the absence of $20B. SLS at no time had said $49B was stolen. He only started using that word "stolen" when Deziani and co claimed nothing was missing. That is why to save face NOI hired PwC to come and cook the books. Those one's for fear of losing their job, reputation and lack of cooperation from the various parties just settled that at least $1.48B was meant to be refunded. 2 Likes |
Re: The False Accusations Against Ngozi Okonjo Iweala by philips70(m): 3:37pm On May 23, 2015 |
Sweetguy25: But she has avoided every invitation to debate the economy at least not as superiority challenge but to the benefit of the system. What was she scared of? 1 Like |
Re: The False Accusations Against Ngozi Okonjo Iweala by Nobody: 3:38pm On May 23, 2015 |
@op you are not an authority in finance or government issue. I don't think you know the difference between fiscal policy and monetary policy. Do you know the function of coordinating Minister of the Economy and minister of finance ? YOU SHOULD HAVE SAID CBN AND OKONJO IWEALA ARE TO BE BLAME |
Re: The False Accusations Against Ngozi Okonjo Iweala by aieromon(m): 3:38pm On May 23, 2015 |
You are brilliant Madam, but you need serious help. 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. There are firebrand Nigerians all over the world to draft to service. It is certainly embarrassing to Nigeria for you to be bothering World Bank economists to help you with most basic economic analysis. Chukwuma Charles Soludo, February 2015 |
Re: The False Accusations Against Ngozi Okonjo Iweala by ideykwum: 3:41pm On May 23, 2015 |
Most of our governors are shallow and dense, with petty craftiness to their merit, regrettably!! Jklue007: |
Re: The False Accusations Against Ngozi Okonjo Iweala by Sweetguy25: 3:46pm On May 23, 2015 |
philips70: That will be a futile exercise. What's the objective behind the call for the debate if not for showing off? The details of how the economy and government revenues are being managed is not a secret. |
Re: The False Accusations Against Ngozi Okonjo Iweala by Nobody: 3:53pm On May 23, 2015 |
Kasiem2:I hope this a joke..lol 1 Like |
Re: The False Accusations Against Ngozi Okonjo Iweala by ideykwum: 3:54pm On May 23, 2015 |
Alexander Pope said "A little knowledge is a dangerous thing! Drink deep or taste not! Shallow draughts intoxicates, drinking largely sobers us!! Socialmediaman has had shallow draughts and is intoxicated! Deadman walking!!! Whynotthetruth: |
Re: The False Accusations Against Ngozi Okonjo Iweala by Nobody: 3:54pm On May 23, 2015 |
After may 29 we will know the real state of affairs |
Re: The False Accusations Against Ngozi Okonjo Iweala by ideykwum: 4:07pm On May 23, 2015 |
See, my good fella! The intricacies and interplays of managing an economy cannot be farmed out to one person. Good economic management is a compendium of various efforts largely led by the executive, legislators and the private sector! Key actors are the President (he sifts for good advice), the finance minister (tries to manage the current account via balancing revenues and expenditures), the CBN governor (the main catalyst for economic growth...an example is the US Federal Reserve Chairman); and the leaders of revenue generating institutions (Customs, NPA, NNPC etc). I am not one of those who says Okonjo-Iweala has no blame...she has a fiducial responsibility to Nigerians and if her advice wasn't going down well, she should have signalled her disapproval by resigning!! My annoyance, rather, is with ethnic jingoists and re-writers of history who would single her out for blame, yet conveniently shield Sanusi et al!! As all economists know, the primary management of the economy is that of the CBN governor, especially a CBN governor who enjoys the type of autonomy Nigeria's constitution allows!!! Please, hypocrisy stinks!! I dey kwum back later to explain more! socialmediaman: 1 Like |
Re: The False Accusations Against Ngozi Okonjo Iweala by ihatesycophant(m): 4:08pm On May 23, 2015 |
The guy that wrote this piece is high in Ogogoro. When monies were not remitted to the coffer of CBN, who did the president fired? The whistleblower was fired instead of the person that suppose to coordinate its remission to the CBN. Who go borrow money? Who account for the money in disbursed and not? 1 Like |
Re: The False Accusations Against Ngozi Okonjo Iweala by Babalegba(m): 4:22pm On May 23, 2015 |
DonDiego:i' m happy to report that you got this particular one wrong. I lived for decades abroad so I know what an effective finance minister should be like.Ngozi is a terrible incompetent minister trying to use western theories and models in a country like Nigeria where different challenges and obstacles exist.she should have the decency to apologise to the millions of Nigerians she ha pauperized |
Re: The False Accusations Against Ngozi Okonjo Iweala by Babalegba(m): 4:22pm On May 23, 2015 |
DonDiego:i' m happy to report that you got this particular one wrong. I lived for decades abroad so I know what an effective finance minister should be like.Ngozi is a terrible incompetent minister trying to use western theories and models in a country like Nigeria where different challenges and obstacles exist.she should have the decency to apologise to the millions of Nigerians she has pauperized |
Re: The False Accusations Against Ngozi Okonjo Iweala by Image123(m): 4:23pm On May 23, 2015 |
Sweetguy25:i will be merciful and not pieces your post literally. Please, what is Ngozi Okonjo-Iweala's duties, you didn't say? |
Re: The False Accusations Against Ngozi Okonjo Iweala by 30pence: 4:28pm On May 23, 2015 |
Jklue007: Go school, u no gree go. You come go, u no wan learn. Most of these governors are ignorant of how national financing work. So you call d finance minister names for no other reason, other than the stale politics that some governors play. USE UR HEAD BRO, THEY'RE NOT FOR THE GOVERNOR'S OWN USE! |
Re: The False Accusations Against Ngozi Okonjo Iweala by ayokellany: 4:32pm On May 23, 2015 |
Sweetguy25: The same excuse ediots likes you peddled for Jonathan blaming everybody except the culprit. When Soludo was being blamed under Obasanjo did he request that you should blame CBN for his short comings ? When Sanusi was being blames did he request Nigeria should blame CBN then ? How coming it's when this fat Bleep is being blamed that we should blame every other govt agencies except her ? You have obviously gone M A D for the submission you made. 3 Likes |
Re: The False Accusations Against Ngozi Okonjo Iweala by Sweetguy25: 4:36pm On May 23, 2015 |
Image123:Feel free to pieces the post however you like. I'm open to a debate. 1 Like |
Re: The False Accusations Against Ngozi Okonjo Iweala by maxtamazin: 4:39pm On May 23, 2015 |
Jklue007: So u think the daft set of fools we call governors know more than Okonjor Iweala? . ..u need help and u ve been deceived since 625BC. |
Re: The False Accusations Against Ngozi Okonjo Iweala by Image123(m): 4:41pm On May 23, 2015 |
Sweetguy25:what is Ngozi Okonjo-Iweala's duties, you didn't say? |
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