Burning Questions On Abacha’s Returned Loot

By Ayibakuro Matthew

Over the last week or so, there has been heightened interest amongst Nigerians about the use of the most recently repatriated $322.5 million Abacha loot.  The questions raised around the issue include the choice of using the money for the conditional cash transfer programme of the Federal Government, the choice of states benefitting from the programme, the usefulness of a monthly transfer of N5, 000 to poor Nigerians and concerns about the re-looting of the funds.

*Gen Sani Abacha 

It is significant to note at the onset that the concerns of most Nigerians about the use of the $322.5 million for the conditional cash transfer programme, instead of a legacy project with more visibility and impact, is both valid and understandable. However, the use of the funds for cash transfers is an outcome of months of negotiation that enabled the repatriation of the funds in the first place.

Abacha Loot: Matters Miscellany

By Sufuyan Ojeifo

I got a credible information last week from some grapevines in Abuja that the much-talked about outstanding sum of $322 million (not $321 million as has been widely reported) stashed away in some secret accounts by former military dictator, the late General Sani Abacha, in Liechtenstein, Luxembourg and Switzerland, routinely referred to as Abacha loot, has been repatriated and it is sitting pretty in a dedicated account in the Central Bank of Nigeria (CBN).

This calls for pomp and ceremony, especially by the office of the Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), which had committed to ensure that the loot was repatriated, regardless of the shenanigans and blackmail from within and outside some official quarters in Nigeria. 

*Late Gen Abacha

 A powerful Nigerian delegation, led by Malami and comprising a team of Nigerian law firm of Oladipo Okpeseyi and Co., had signed a Memorandum of Understanding (MoU) with the Swiss Federal Council and the World Bank on December 7, 2017 for the repatriation of the loot, composed of $250 million traced to Liechtenstein and $72 million traced to Luxembourg, which was confiscated by the Court of Switzerland. 

Despair, Nigerian Style

By Paul Onomuakpokpo  

Whether or not our current leaders consider it a cruel fate that threw them up in these times that contrast with the heady days of oil boom, they must not keep on ruing their arrival on the political scene only when the party is over. For, great leaders, with redoubtable transformational savvy, have often emerged in the times of depressing national crises like war and economic collapse. The times of crises are not when leaders who have been weaned on a diet of ease and are imbued with the delusive notion that public office is a voyage into uncharted territories of splurging should remain in the cocoon of comfort, untouched by the afflictions of their people. Thus before our leaders is placed the uncommon opportunity of demonstrating their capability for navigating the nation through the treacherous trajectory of a myriad of emergencies.

But even if they were willing, our leaders cannot make a headway until they really appreciate the character of the tragedy that has befallen the citizens. In our nation’s case, it may only be in the period of the civil war that the people suffered more than they are doing now. Every other crisis with its attendant immiseration may pale into insignificance before the one the citizens are currently confronted with. The economic crisis has thrown many  people out of jobs and they can no longer  pay their rents. But just recently in Lagos, for instance, such people could still have found shelter if they were thrown out by their landlords or landladies.  Those whose pallid economic condition  rendered them homeless would have had the bridges  to save them from the elements. But urban development in contemporary times has made these bridges inaccessible to them. And even if they were still available, ritual killers  and rapists would have made them danger zones for the homeless to shelter under. And in the past, the hungry citizens ate from dustbins. But such culinary havens are fast disappearing.

Indeed, signposting their attainment of apotheosis, the dustbins and dumping grounds have increasingly become the dining tables of the poor . The scramble cannot go unnoticed as those who ought to throw the remnants of their food in those dustbins do not even have what to eat.  These are workers whose companies have collapsed because of their inability to procure the foreign exchange they needed for their operations. Others are workers who, though are engaged in their jobs, are being owed for months by their private or public employers. These hobbled employees are even looking for who to borrow from. Some of them who never went to religious places of worship like churches before now frequent there with the hope that help could come from there. But from who do they beg or borrow when all the workers are suffering the same fate? Those that may be in a position to be borrowed or begged from should be the members of the political class who are invulnerable to the crushing  economic crisis . Even the little the salary-starved worker has cannot buy so much since the prices of goods have tripled due to the widening disparity between the naira and the dollar.

Buhari, Obasanjo And Emeka Offor

By Mohammed Al-Bishak

No sooner had Premium Times published on Monday, August 3, 2015, the first part of its interview with erstwhile President Olusegun Obasanjo than it went viral. Though the immediate context of the interview was the publication of Obasanjo’s controversial trilogy entitled My Watch, the questions from the interviewers were forthright and wide ranging, and the responses quite interesting. Early in the interview, Obasanjo devoted considerable time and sentiments to an evaluation of a controversial government contractor, Emeka Offor, and his activities.

*Emeka Offor

“Take for example the decision on privatizing all refineries”, remarked the former president in respect of certain decisions he took in the days of his administration which were reversed by the succeeding Umaru Yar’Adua governemnt which he had handpicked. “I explained (in my memoirs) that what I met were refineries that were not working, refineries that were given to an amateur for repairs, for maintenance, what they call turn-around maintenance, to the company of the Emeka Offor group. Where has Emeka Offor maintained refineries before? Where has he? That’s what we met. So, refineries were not working.”

The diligent team of reporters tried to find out from him why he did not bother to recover the huge amounts paid to Offor’s companies, and the retired army general, noted for ebullience, surprisingly sounded helpless before a mere civilian, a mere government contractor, almost half his age. Here are his words: “ (Recover money from)a man who was paid upfront? He had people. He got some police….People were there. And Emeka Offor, after I left (office), became friends with every government that has come”. Offor was, no doubt, friends with the Yar’Adua and Goodluck Jonathan governments. With this interview, Obasanjo is strongly warning the new Muhammadu Buhari administration to avoid controversial contractors like a plague. Otherwise, they would ruin the new government they way they destroyed governments before it. I should think there is merit in the wise counsel because Buhari is globally recognized for high personal integrity, and his government is the last hope of the Nigerian people to get out of the corruption cancer which has metastised all over the country.

 

*Buhari and Obasanjo

It is necessary to explain the relationship between Offor and the refineries. Offor founded a firm known as Anchoff Strongholds which was a clearing agent for the Warri Petroleum Refinery and Petrochemicals Company (WPRC) and later became its supplier. Between 1993 and 1994 it stunned the petroleum industry worldwide by becoming the first African company to carry out a turn-round maintenance (TAM) on the 125,000 barrels per day WRPC. It was assisted by Gidado Idris, then permanent secretary in the Ministry of Petroleum Resources, who was to become chairman of all of Offor’s companies. But practically no work was done. A probe led by Aret Adams, the best group managing director of the Nigerian National Petroleum Corporation (NNPC) ever, was instituted. The report recommended the dismissal of the WRPC managing director, Dr Owokalu, for his role in the scandal. The government acted promptly. The report also recommended the blacklisting of Anchoff Strongholds and its promoters and their ban from ever doing business with the NNPC. It was accepted.

But in the typical Nigerian fashion, the latter recommendations were circumvented. Anchoff promoters formed a new company and named it Chrome. Meanwhile, Gidado Idris had taken over from Aminu Saleh as the new Secretary to the Government of the Federation under General Sani Abacha’s military dictatorship. Chrome was awarded the contract to do the TAM on the 210,000barrel per day Port Harcourt Refinery and Petrochemical Company, which is much bigger than the Warri refinery whose TAM had become an international scandal. Ever since then, all the country’s refineries have become comatose. This is the background to Obasanjo’s anger over the sweetheart deals between various Nigerian governments and Offor.

Yet, I have tremendous difficulties with the impression which ex President Obasanjo has sought to give about his relationship with Offor. There is overwhelming evidence that Obasanjo not only empowered Offor but went out of his way to do so; in the process he violated all known rules and ethical standards. I would like to cite just an example which I know pretty well: the Joint Development Zone (JDZ) between Nigeria and the twin island of Sao Tome and Principe.

The Kidnapping of Ngozi Okonjo-Iweala’s Mother

By Ugochukwu Ejinkeonye

No matter the very strong views many Nigerians hold about the Minister of Finance and Coordinating Minister of the Economy, Dr. (Mrs.) Ngozi Okonjo-Iweala, it is difficult not to sympathize with her and her family on the recent kidnapping of her mother, Mrs. Kamene Okonjo, by heartless criminals.  Mrs. Okonjo, 82, a retired sociology professor, is the wife of the Obi of Ogwashi-Uku in Aniocha LGA of Delta State. 

Finance Minister, Ngozi Okonjo-Iweala and Her

 Mother, Mrs. Kamene Okonjo 

The five days Mrs. Okonjo spent with her captors must have been one long traumatic period for the members of the family. Now that she has been freed and is back home, I must join several other Nigerians to congratulate the finance minister and her family on the happy end to this horrible nightmare. 

It has been quite difficult to determine how exactly Mrs. Okonjo’s freedom was secured.  The public has merely been treated to a cocktail of speculations even by those who ought to have the facts. Delta State Governor Emmanuel Uduaghan thinks that the kidnappers may have been panicked by the sudden, heavy presence of security agents in the area and so decided to release the woman.

World Bank Selection A ‘Hypocrisy Test’, Says Okonjo-Iweala

... As Financial Times Newspaper Endorses Her... 

Nigeria's Finance Minister, Dr. Ngozi Okonjo-Iweala, has said that the process through which a new World Bank president is selected to succeed Mr. Robert Zoellick whose tenure ends in July would serve to determine the "level of hypocrisy" of the rich nations.  

Ngozi Okonjo-Iweala
 “I would really hold the Bretton Woods shareholders to their word, that they want to change the way business is being done and want a merit-based, open and transparent process for the presidency. I just want to see whether people just say things with their mouth that they don’t mean and what’s the level of hypocrisy. So we want to test that,” Okonjo-Iweala told Financial Times (London) in a recent interview. 
Since the World Bank was established, America has always produced its president. And it is always taken for granted that the American nominee will always emerge the winner due to her superior voting power. Already, President Barack Obama has nominated an American health expert and Dartmouth professor, Jim Yong Kim, for the top job. Other contenders are Okonjo-Iweala herself who is backed by the African Union (AU) and the former Colombian Finance Minister, Jose Antonio Ocampo. 

US President Barack Obama, US Nominee For World Bank Presidency, Jim Yong Kim, US Secretary Of State, Hillary Clinton, During The Announcement Of The US Nominee In The Rose Garden At The White House On  Friday, March 23, 2012

Okonjo-Iweala, a former World Bank managing director, thinks that since the bank is focusing on development, the weak economies which are the targets of such developmental efforts ought to be allowed stronger voice in the running of the bank. She called for a “contestable process” in the selection of the bank’s leadership. 

“Many developing countries are very desirous to see this. They may not necessarily be saying they support Okonjo-Iweala, but they will be saying we support a contestable process,” she said.  

Okonjo-Iweala is also Nigeria's Coordinating Minister of the Economy. A decision to remove the subsidy on fuel in Nigeria recently led to serious civil crises which paralyzed activities in the country for several days. Most people thought she was the architect of the policy.  But most African leaders believe she is the best person for the World Bank job. And she thinks so herself.  

Time To Say Goodbye: Robert Zoelick: His Tenure

As World Bank President Ends June 30

"I’m not a typical bureaucrat, and not a typical World Banker either. I’ve come in and out. Someone like me can hit the ground running. I don’t have a steep learning curve,” she told Financial Times  

“I think that the World Bank matters so much to many of the world’s poor, it matters so much to emerging market countries, so I think this time they need to get it right. I can’t do better than demand they stick to their words. If they fail then it will be for the world to judge them,” she said.  

Ngozi Okonjo-Iweala Being Greeted By Her Greatest

Supporter, President Goodluck Jonathan

Meanwhile, the Financial Times has endorsed her for the job. In an editorial on Tuesday, March 27, 2012, the paper said that the new president of the World Bank “should have a command of macroeconomics, the respect of leaders of both the funding and the funded countries, and the management skills to implement his or her vision. These requirements make Ms Okonjo-Iweala the best person for the role… Having an African woman at the helm of the world’s leading development institution would send a strong signal both to developing and developed countries. … In this less than ideal world, Mr. Kim’s appointment seems inevitable. But if the Bank’s shareholders wanted the best president, they would opt for Ms Okonjo-Iweala.”