Minister of Finance, Dr. Ngozi Okonjo-
Iweala, has explained how the Olusegun
Obasanjo administration she was part of
spent the loot recovered from the late
maxiumn dictator, Gen. Sani Abacha.
She said contrary to reports that the sum
of $2bn was recovered from Abacha’s
loot, $500m was the actual amount
recovered under her watch when she was
first made finance minister.
But while speaking in London in
November 2006, the pioneer
Chairman of the Economic and
Financial Crimes Commission,
Mallam Nuhu Ribadu, had said that
“Abacha took over $6bn from
Nigeria,” and that $2bn of the loot
had been recovered.
Ribadu repeated the same figure in
the same month during the 12th
International Anti-Corruption
Conference in Guatemela.
Three months ago, Ribadu repeated
the same claim in Dakar at the 2nd
Annual High Level Dialogue on
Governance and Democracy in
Africa.
Also, as Minister of Finance in the
Olusegun Obasanjo administration,
Okonjo-Iweala, in 2005 – a year before
Ribadu made his claim – at a news
conference in Switzerland reportedly said
that Nigeria had recovered about $2bn
total of asset from Abacha.
But now she is singing a different song.
Reacting to issues of the stolen money,
Okonjo-Iweala said through her Special
Assistant on Communication, Mr. Paul
Nwabuikwu, that the recovered $500m
under her watch was verified and used in
a structured manner for developmental
projects.
Nwabuikwu said, “The minister did not say
only $500m was recovered as the entire
loot of Abacha. What she actually said
was that under her watch when she was
in government as a minister, it was that
amount that was recovered. And that
money was used in a structured way to
carry out some programmes of
government.
“You will recall that at a point, she left
government to return after some years
and she cannot be held accountable for
whatever happens when she was not in
office. So the bottom line is that only
$500m was the amount recovered when
she was in government.”
Since that Coordinating Minister of the
economy is running from "responsibility"
who will now give account?
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