₦airaland Forum

ibedun:
Why did she leave the world bank twice to occupy the finance minister position? Because it was a much bigger and powerful position. What exactly was she responsible for at the world bank? Go and do some research. Soludo is a million miles better than NOI.

U are a complete Anu Mpama, a tribal bigot

Soo China exim bank give loan to expand airport like that of Port harcourt? expansion indeed, lol

tete7000:
I found it mind buggling that all those at the ministry can't even understand the terms of the projects under their watch. Imagine the enormity of this refutation: under the sign agreement, there is no way any money could have been diverted. Reason: The chinese government itself releases money directly to chinese contractors doing the projects. Their own people asses projects and give approvals for release of money. Worse still the project mentioned by presidency is not even among funded projects.

If the government got it wrong on simple details like this, how can they be trusted on all other information they release to public? At this time I think it is becoming apparent how imperative it is for the President to appoint minister with needed qualification and experience to handle the job of studying those books.

Spot on bro. I'm just angry with what APC has turned us to. You hardly see people sound sense of understanding more to talk of judgement.

"[/b] The chinese government itself releases money directly to chinese contractors doing the projects. Their own people asses projects and give approvals for release of money. ". At least I have first hand information on the Galaxy Backbone Project. A Chinese company, Huawei, is the one running it. All the govt does is supervise. At the moment, the project is still on-going, at the gay end of completion.

" Worse still the project mentioned by presidency is not even among funded projects.". Just so surprised that non of the APC brainwashed supporters here, too dense in seeing that NOI is killed and buried, could read and understand that part. They can't see even the part she said the Chinese releases the money in stages. Really appalling

simongonner:
Okonjo-Iweala, in a statement by her Media Adviser, Mr Paul Nwabuikwu, also explained that contrary to the allegation, the Kano-Lagos rail project was not part of the project listed for funding from the Chinese loan.


Giving a breakdown of the loan and how it was utilised, the minister said $500m was used for the expansion of four International Airport Terminals in Lagos, Kano, Abuja and Port Harcourt; $500m for the Abuja Light Rail project; $984m for the Zungeru Hydro-electric power project and $100m for the Galaxy Backbone project


“In fact, it was the Lagos–Ibadan rail project, not Lagos-Kano rail project that was proposed in the original application to the China-EximBank. But in the end, no funds were assigned for the Lagos-Ibadan rail project by the China-EximBank.”

http://www.punchng.com/news/600m-chinese-rail-loan-not-diverted-okonjo-iweala/

Hmmm, so that sorry building referred to as Port Harcourt International Airport gulped a whopping $100M (18 5Billion Naira)!!!! Haba! Make una dey softly softly lie na!

So the money was for the Lagos-Ibadan Rail line but was DIVERTED for other uses? So in essence, Okonjo-Iweala is agreeing that money meant for railway expansion projects were diverted! Just the small detail that it should have ended at Ibadan and not all the way to Kano!

By the way how will it cost 1Billion dollars to do Lagos to Ibadan, a distance of about 285Km?? NOI is a rogue.

ibedun:
Emotional NOI supporter, NOI was a small time administrator at the world bank. Go and check the governance structure and see how many Managing Directors there were. She was just a token African face just to fool African country clients of the world bank and to give the false impression of a "world" representation. Why the hell did she leave the position at will whenever she wanted. Because she was not that important!!!! Look how she has bleeped up our economy? The fat e-Dior rebased statistical data and shamelessly proclaimed a largest paper economy. Look how the naira crashed. NOI is a THIEF!!!

u are a kid go and sleep, baby

Splashme:
Buhari see your life?
Shame on you.
Intellectually, you are nothing near Ngozi's class.


Between you and Oshiomole, can't say whose mouth is leaking more

But Buhari did not mention NOI na!

simongonner:
The i edia campaign has once again been launched by political elements to make the former Minister the culprit in a non-existent scandal.

“The alleged diversion has no substance for the simple reason that the Kano-Lagos project was not even among the projects presented for funding by the China EximBank for several strategic infrastructural projects across the country.

“In fact, it was the Lagos–Ibadan rail project, not Lagos-Kano rail project that was proposed in the original application to the China-EximBank. But in the end, no funds were assigned for the Lagos-Ibadan rail project by the China-EximBank.”



http://www.punchng.com/news/600m-chinese-rail-loan-not-diverted-okonjo-iweala/

I saw another version somewhere that will be interesting to babaonechance supporters.

Ngozi Okonjo-Iweala
Alleged Diversion of Chinese Rail Loan Untrue
- Kano-Lagos rail project not funded by China-EximBank
- China-EximBank keeps and disburses funds for approved projects to contractors based on milestones; funds are not domiciled with Finance Ministry
Since this story was first reported, we have continued to receive media inquiries regarding an allegation reportedly made by the Permanent Secretary, Ministry of Transport, Alhaji Mohammed Bashar, that a substantial part of a $1bn loan obtained from the China-EximBank by the Jonathan administration for a Kano-Lagos rail project was diverted to other projects.
I want to state categorically that there is no truth in the reported allegation. Anyone who is interested can cross-check with the China-EximBank or the Chinese Embassy.
It is noteworthy that even though President Buhari, in his reported comments on the allegation, made no reference to Dr. Okonjo-Iweala but rightly stressed the need for due process and transparency in the execution of public projects, a sponsored media campaign has once again been launched by political elements to make the former Minister the culprit in a non-existent scandal.
The alleged diversion has no substance for the simple reason that the Kano-Lagos project was not even among the projects presented for funding by the China Exim Bank for several strategic infrastructural projects across the country.
In fact, it was the Lagos–Ibadan rail project, not Lagos-Kano rail project that was proposed in the original application to the China-EximBank. But in the end, no funds were assigned for the Lagos-Ibadan rail project by the China-EximBank.
The fact which can be confirmed is that the following projects which are at various stages of progress are being funded from facilities obtained from the China-EximBank:
- $500m for the expansion of four International Airport Terminals in Lagos, Kano, Abuja and Port Harcourt.
- $500m for the Abuja Light Rail project
- $984m for the Zungeru Hydro-electric power project
- $100m for the Galaxy Backbone project
It is also important to note that even if the alleged project was on the list of China-EximBank funded projects, diversion of any Chinese funds would have been extremely difficult because the terms of the contract and the processes would simply not have permitted such action.
The procedure is that funds for approved loans remain in the China-EximBank and are released directly to the Chinese firm executing the contract only after the presentation of duly certified proof of work by the responsible Ministry, in this case it would have been the Federal Ministry of Transport, based on the agreed milestones.
For the sake of emphasis, the China-EximBank does not disburse money directly to government and therefore the issue of diversion does not arise.
This is yet another example of the kind of whispering campaign of calumny, innuendo, misinformation, and outright distortions being perpetrated by certain political elements against Dr. Okonjo-Iweala in a bid to try to damage her reputation.
We are confident that those behind this campaign will continue to fail.
We respectfully request the media to refrain from attaching Dr. Okonjo-Iweala's name and photographs to spurious and unfounded allegations. Dr. Okonjo-Iweala as a Nigerian citizen in a democracy, a citizen who has served her country with honesty and integrity, also has some fundamental rights to justice and fair play.
Thank you.
Paul C Nwabuikwu
Media Adviser to Dr. Ngozi Okonjo-Iweala

Why did they remove the highlighted portion from the punch article posted here?

eleven:
My friend stop this nonsense diversion from the main issue. The bone of contention here is the claim the president made on air regarding the Lagos-Kano rail funds diversion. If you have facts indicting her for the airports, please quickly pass it to Oshiomole and PMB to do the needful quickly.

If you are smart by an inch, you'd realise that the Lagos-Ibadan Rail line is just a section of the Lagos-Kano Rail line.

Or is the Sagamu-Ore road any different from the East-West Road? You guys need to get some quality education. Soon they'd allege money for construction of a school was diverted and you guys would be hailing yourselves that it wasn't true and it is propaganda as only money meant for the library and admin blocks were diverted as the class were built. Mtchewww!

uptoHim:
Spot on bro. I'm just angry with what APC has turned us to. You hardly see people sound sense of understanding more to talk of judgement.

"[/b] The chinese government itself releases money directly to chinese contractors doing the projects. Their own people asses projects and give approvals for release of money. ". At least I have first hand information on the Galaxy Backbone Project. A Chinese company, Huawei, is the one running it. All the govt does is supervise. At the moment, the project is still on-going, at the gay end of completion.

" Worse still the project mentioned by presidency is not even among funded projects.". Just so surprised that non of the APC brainwashed supporters here, too dense in seeing that NOI is killed and buried, could read and understand that part. They can't see even the part she said the Chinese releases the money in stages. Really appalling

The painful part of the whole saga is that this exposes the president. You cannot do a work you don't have training, qualification, experience and dexterity to do. It takes more than ordinary passion to do some things. He needs professional with experience to do this job. A qualified and experience professional in area of project finance and management would have been able to ask salient question and avoid going to press to misyarn. How many goofs already from Buhari government now? This man needs to appoint his ministers. He is not all-knowing, he is no God. Nothing the hypocrites tell him will change that fact.

its a bitter pill Bro. Dont you think its actually true?

nworanco:
U are a complete Anu Mpama, a tribal bigot

handie:
Wait! The loan is meant for rail projects ba? In a situation where loans meant for the rail sector is being used for expansion of airport terminals, hydro electric power projects and a galaxy backbone project, is that not diversion? How does expansion of airport terminal affect development of the rail sector? Buhari said and I quote: [b] President Muhammed Buhari Monday in Abuja
called for an explanation from the Ministry of
Finance on the foreign loans obtained for rail
projects but diverted to other purposes.
Speaking at the end of a presentation on the
Ministry of Transport by the Permanent
Secretary, Mohammed Bashar at the
Presidential Villa, President Buhari said that it
was disappointing to find that foreign loans
obtained in line with signed agreements were
moved from one project to another.
“I hope that due process was followed before
such diversions were carried out. Taking money
from one project to another has to be done
properly,” Garba Shehu, his senior special
assistant on media and publicity, quoted the
President as saying.
Mr. Buhari was reacting to the specific instance
of the diversion of a substantial part of the loan
of USD1.005 billion from the Chinese Exim
Bank, obtained for the construction of a
standard gauge rail line linking Lagos to Kano
but which was moved elsewhere. [/b]. Source:www.premiumtimesng.com/news/188134-buhari-launches-probe-into-alleged-diversion-of-1billion-loan-for-rail-projects.html Now, how is this NOI statement different from Buhari's statement? Was the loan meant for airport terminal expansion?

Is it dat u don't understand a simple English or that you too blind to read a simple word
Pls read again

" “The alleged diversion has no substance for the simple reason that the Kano-Lagos project was not even among the projects presented for funding by the China
EximBank for several strategic infrastructural projects across the country. “In fact, it was the Lagos–Ibadan rail project, not Lagos-Kano rail project that was proposed in the original application to the China-EximBank. But in the end, no
funds were assigned for the Lagos-Ibadan rail project by the China-EximBank.”

The permanent secretary will clarify matters tomorrow. As for me I do not trust Stella Oduah's sister or cosmos maduka - that thief, swindler and these are the people fat-cheeks was associating with. NOI is a crook.

uptoHim:
Spot on bro. I'm just angry with what APC has turned us to. You hardly see people sound sense of understanding more to talk of judgement.

"[/b] The chinese government itself releases money directly to chinese contractors doing the projects. Their own people asses projects and give approvals for release of money. ". At least I have first hand information on the Galaxy Backbone Project. A Chinese company, Huawei, is the one running it. All the govt does is supervise. At the moment, the project is still on-going, at the gay end of completion.

" Worse still the project mentioned by presidency is not even among funded projects.". Just so surprised that non of the APC brainwashed supporters here, too dense in seeing that NOI is killed and buried, could read and understand that part. They can't see even the part she said the Chinese releases the money in stages. Really appalling

Is it the same Chinese Government running and supervising the Port Harcourt Airport construction? Or where did the money go to?

Tell me the PH Airport has been completed or how then did the money finish?

You guys need to move away from your deluded reasoning and embrace the fact that we need to move forward in this country, and saying I spent on this shouldn't be taken on face value again. You lots were here defending the PH-Owerri road as achievement of GEJ but curiously disappeared from the thread opened on it today. Until you realise that NIGERIAN is a term that applies to ALL of us irrespective of religion, tribe or political leanings and start holding people accountable, we would continue to be backward.

This is why buhari should appoint technocrats to carryout proper audits before coming out to misinform the public.

APC members confusing Buhari well wetin concern me na make he right my turn i they fine


Son, it's obvious that you didn't bother to read the post just as you won't bother to read any other thing. It's a Permanent Secretary that served under Jonathan that briefed Buhari on the loan diversion. You seriously need to imbibe the reading habit so that serious secrets won't be hidden from you inside books.

Akainzo:
Is it the same Chines Government running and supervising the Port Harcourt Airport construction? Or where did the money go to?

Tell me the PH Airport has been completed or how then did the money finish?

You guys need to move away from your deluded reasoning and embrace the fact that we need to move forward in this country, and saying I spent on this shouldn't be taken on face value again. You lots were here defending the PH-Owerri road as achievement of GEJ but curiously disappeared from the thread opened on it today. Until you realise that NIGERIA Is a term that applies to ALL of us irrespective of religion, tribe of political leanings and start holding people accountable, we would continue to be backward.

broda u are indeed a dullard,do u know anything about project financing?

Do u think d funds are just released all at once,no,d funds are released in stages according to the the various phrases of the project.

The funds released are handed over to Chinese contractors,so there is no way jonathan can steal it,unless he sends armed soldiers to beat the contractors and collect the money.

See how uve made me mundane with my writings.

Some Nigerians are indeed dull.

Some Nigerians will be so poor till they die,because they think the only means of getting wealth is through stealing while in the corridors of power.

Okonjo was already a made woman b4 she came onboard to serve her country.

dhappyking:
How abou $1= N1. Time is ticking for APC. Sooner than they will realize 2019 will be here.

Bro, I want to challenge any forumite or any person to go into a bet of any amount - that nothing will EVER come out of this noise (probe).

In order words, if by December buhari (court) jails anybody, by that I mean any (former) minister on account of embezzlement or corruption i will be made to pay the person #20,000, otherwise I will receive #20,000.

Just take a look at how brilliantly NOI's response was. This is to show that we are in for a long thing in this country, when even the perm sec of the ministry of finance doesn't know how the modalities of foreign loans are been utilized.

SMH!

Mordyb:
It seems many people have adopted this pseudo blindness to the part where there were contracts and Mou where stated and how she asked people to refer to the Chinese government for further clarification as the contract has been awarded. Secondly for the dolts that can't comprehend the loan is from a cooperate institution with the aim of making profit and they would have a monitoring team on ground to check implementation and also disbursement because contract were signed and you can not spend on what is not covered in the mou/contract and if the contract has not been done satisfactory you sue them and not the awarder

if you observe carefully whenever NOI responds to her accusers the never have a good comeback[size=8pt][/size] instead they resort to name calling and that is the end of that story

Your head dey dere!
100 gbozas plus 10 cartons of Orijin for you MY MAIN MAN!!!!

Foolish saTANoids...who have bewitched u?

[size=38pt]

$600m Chinese Rail Loan was Diverted by Goodluck Jonathan. [/size]

Some persons jos write wat eva dey like. PMB only asked for clarification that due process was followed for diverting the loan to other projects. Abi rail and airport terminal or power plant na.d same thing? Wen money are diverted daz a way of looting it. Madam patient till dem call u abi she dey fear?

Akainzo:
Is it the same Chines Government running and supervising the Port Harcourt Airport construction? Or where did the money go to?

Tell me the PH Airport has been completed or how then did the money finish?

You guys need to move away from your deluded reasoning and embrace the fact that we need to move forward in this country, and saying I spent on this shouldn't be taken on face value again. You lots were here defending the PH-Owerri road as achievement of GEJ but curiously disappeared from the thread opened on it today. Until you realise that NIGERIA Is a term that applies to ALL of us irrespective of religion, tribe of political leanings and start holding people accountable, we would continue to be backward.

tell dem. Under GEJ 9jaa has bin in Trans.

lanrema:
Nigerians will be shocked when this people are probed and nothing is find missing just propaganda

really? so no money was stolen then.

God bless you for ur understanding
uote author=handie post=37028287]Wait! The loan is meant for rail projects ba? In a situation where loans meant for the rail sector is being used for expansion of airport terminals, hydro electric power projects and a galaxy backbone project, is that not diversion? How does expansion of airport terminal affect development of the rail sector? Buhari said and I quote: [b] President Muhammed Buhari Monday in Abuja
called for an explanation from the Ministry of
Finance on the foreign loans obtained for rail
projects but diverted to other purposes.
Speaking at the end of a presentation on the
Ministry of Transport by the Permanent
Secretary, Mohammed Bashar at the
Presidential Villa, President Buhari said that it
was disappointing to find that foreign loans
obtained in line with signed agreements were
moved from one project to another.
“I hope that due process was followed before
such diversions were carried out. Taking money
from one project to another has to be done
properly,” Garba Shehu, his senior special
assistant on media and publicity, quoted the
President as saying.
Mr. Buhari was reacting to the specific instance
of the diversion of a substantial part of the loan
of USD1.005 billion from the Chinese Exim
Bank, obtained for the construction of a
standard gauge rail line linking Lagos to Kano
but which was moved elsewhere. [/b]. Source:www.premiumtimesng.com/news/188134-buhari-launches-probe-into-alleged-diversion-of-1billion-loan-for-rail-projects.html Now, how is this NOI statement different from Buhari's statement? Was the loan meant for airport terminal expansion?[/quote]

Splashme:
Buhari see your life?
Shame on you.
Intellectually, you are nothing near Ngozi's class.


Between you and Oshiomole, can't say whose mouth is leaking more

Idiotz be believing everything a thief says in defence.
Was the fund diverted or not? It was Diverted; simple! Okonjo Thief must answer for her deeds

Being an authority in a field doesn't make all you say or do to be correct, else by now, Nigeria for don go far under NOI with all are " Qualities". If her. Reply to this allegation is correct, then does it mean there was never a loan to finance the Kano-Lagos rail project? And if there was no such loan, who in the same finance ministry gave our president the wrong information. Because my president is not dull, and to those who say he's dull, no amount of dullness will make someone say such a thing before the parmernent secretary of ministry of finance and he kept quite, OR HIS HE DULL ALSO?

ibedun:
The permanent secretary will clarify matters tomorrow. As for me I do not trust Stella Oduah's sister or cosmos maduka - that thief, swindler and these are the people fat-cheeks was associating with. NOI is a crook.

who gives a damn about you? park well joor...

deb:
Idiotz be believing everything a thief says in defence.
Was the fund diverted or not? It was Diverted; simple! Okonjo Thief must answer for her deeds

pls don't die of a heart of a heart here o....before you kill yourself.

oya. take some lawyers and sue her na..... since you know she is a thief...envious leech.

handie:
Wait! The loan is meant for rail projects ba? In a situation where loans meant for the rail sector is being used for expansion of airport terminals, hydro electric power projects and a galaxy backbone project, is that not diversion? How does expansion of airport terminal affect development of the rail sector? Buhari said and I quote: [b] President Muhammed Buhari Monday in Abuja
called for an explanation from the Ministry of
Finance on the foreign loans obtained for rail
projects but diverted to other purposes.
Speaking at the end of a presentation on the
Ministry of Transport by the Permanent
Secretary, Mohammed Bashar at the
Presidential Villa, President Buhari said that it
was disappointing to find that foreign loans
obtained in line with signed agreements were
moved from one project to another.
“I hope that due process was followed before
such diversions were carried out. Taking money
from one project to another has to be done
properly,” Garba Shehu, his senior special
assistant on media and publicity, quoted the
President as saying.
Mr. Buhari was reacting to the specific instance
of the diversion of a substantial part of the loan
of USD1.005 billion from the Chinese Exim
Bank, obtained for the construction of a
standard gauge rail line linking Lagos to Kano
but which was moved elsewhere. [/b]. Source:www.premiumtimesng.com/news/188134-buhari-launches-probe-into-alleged-diversion-of-1billion-loan-for-rail-projects.html Now, how is this NOI statement different from Buhari's statement? Was the loan meant for airport terminal expansion?

Prior to reading your comment, I was perplexed because alot of comments here show that people don't read and comprehend anymore. Buhari was absolutely right. Funds meant for railway projects where simply diverted for other things! I will doubt that the loan terms allow monies meant for "abuja-kano" railway project.. which is very specific to be used to upgrade our airport terminals and the so called galaxy backbone. If it is so easy to move monies across projects, it will be easy to move them across bank accounts! I am igbo and it is obvious that previous Government was dumb, flexible, highly corrupted and opeque.

simongonner:
The immediate past Minister of Finance, Dr Ngozi Okonjo-Iweala, on Sunday described as untrue allegation that a substantial part($600m) of the $1bn Chinese loan obtained for railway projects, was diverted.

Okonjo-Iweala, in a statement by her Media Adviser, Mr Paul Nwabuikwu, also explained that contrary to the allegation, the Kano-Lagos rail project was not part of the project listed for funding from the Chinese loan.
President Muhammadu Buhari had last Monday queried the Ministry of Finance for alleged diversion of foreign loans obtained for rail projects by the administration of former President Goodluck Jonathan.

Specifically, the President was seeking clarification on alleged diversion of a substantial part of a $1.005bn loan obtained from the Chinese Exim Bank for the construction of a standard gauge rail line, linking Lagos to Kano.

The funds were said to have been moved elsewhere.

Okonjo-Iweala, who spearheaded the negotiation for the loan during her time as finance minister, said the China-Exim Bank kept and disbursed funds for approved projects to contractors based on milestones.

The funds, she added, were not domiciled in the Finance Ministry.

Giving a breakdown of the loan and how it was utilised, the minister said $500m was used for the expansion of four International Airport Terminals in Lagos, Kano, Abuja and Port Harcourt; $500m for the Abuja Light Rail project; $984m for the Zungeru Hydro-electric power project and $100m for the Galaxy Backbone project

The minister, in the statement, noted that even if the alleged project was on the list of China-EximBank funded projects, diversion of any Chinese funds would have been extremely difficult because the terms of the contract and the processes would simply not have permitted such action.

The statement reads in part, “We have continued to receive media inquiries regarding an allegation reportedly made by the Permanent Secretary, Ministry of Transport, Alhaji Mohammed Bashar, that a substantial part of a $1bn loan obtained from the China-EximBank by the Jonathan administration for a Kano-Lagos rail project was diverted to other projects.

“I want to state categorically that there is no truth in the reported allegation. Anyone who is interested can cross-check with the China-EximBank or the Chinese Embassy.

“It is noteworthy that even though President Buhari, in his reported comments on the allegation, made no reference to Dr. Okonjo-Iweala but rightly stressed the need for due process and transparency in the execution of public projects, a sponsored media campaign has once again been launched by political elements to make the former Minister the culprit in a non-existent scandal.

“The alleged diversion has no substance for the simple reason that the Kano-Lagos project was not even among the projects presented for funding by the China EximBank for several strategic infrastructural projects across the country.

“In fact, it was the Lagos–Ibadan rail project, not Lagos-Kano rail project that was proposed in the original application to the China-EximBank. But in the end, no funds were assigned for the Lagos-Ibadan rail project by the China-EximBank.”



http://www.punchng.com/news/600m-chinese-rail-loan-not-diverted-okonjo-iweala/

Right. It wasn't diverted just siphoned - dolt.