Senate Indicts Ngozi Okonjo-Iweala Over Loss of N1.6tr Revenue

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Nigeria's imediate past minister of Finance ,Ngozi Okonjo-Iweala has been indicted by the Nigerian senate over a N1.7t loss in revenue.

According to the Senate Ad Hoc Committee on Alleged Misuse, Under-Remittance and Other Fraudulent Activities, revenue agencies short-changed the Federal Government to the tune of N1.7tn as unremitted revenue generated between 2012 and 2016.

The panel blamed it on a memo by a former Minister of Finance, Mrs. Ngozi Okonjo-Iweala, who allegedly issued the memo to the agencies to remit 25 per cent of revenue they generated to the Federal Government and spend 75 per cent on their expenditures.

An interim report by the committee chaired by Senator Olamilekan Adeola, details this.

The panel said the amount to be remitted to the Federal Government during the period by 93 agencies it investigated was N21.5tn.

It alleged that 25 of the 93 agencies covered defrauded the government of a total of N1,695,585,887,406.

Comments

  1. David Emoche26 October 2017 at 07:47

    Wait a minute, What should make this headline? Shouldn't it be the corruption in the agencies mentioned? NOI who worked in the interest of the country by regulating the fiscal revenue as her duty demands doesn't deserve these accusing fingers. We ought to pounce on NNPC, Customs, and all of those misfits occupying the honourable positions in the agencies

    ReplyDelete
  2. David Emoche26 October 2017 at 07:48

    There is something I'm yet to understand about this APC leadership. Every unfortunate situation is ascribed to the previous administration. You need not deride the efforts of others good or bad, just because you want to gain fame and popular support. That's not leadership. It is foolishness. I thought the propaganda was 'Change'. So, just go ahead and change whatever need to be changed and stop boring us with criticisms.

    ReplyDelete
  3. David Emoche26 October 2017 at 07:49

    The Senate Committee's report on this issue is clearly a misrepresentation of the good intentions of Dr Okonjo Iweala. The fraudulent practices in those revenue agencies was worse before she issued the Memo mandating each them to remit at least 25% of the total generated revenue. This means that most of them remitted lesser than expected even before the Memo.

    ReplyDelete
  4. David Emoche26 October 2017 at 07:54

    It's funny how Nigerians twist information to damage the reputation of people not in their caucus. NOI has not been charged for any corrupt practice. Her good intentions are always misinterpreted....

    ReplyDelete
  5. David Emoche26 October 2017 at 07:55

    NOI during her service in the Federal Government did not at any time fail to tell Nigerians her fears about the economy and what must be done. She is not one of these cynics in the government today who speak ill of other without any wisdom on what should be done. I celebrate NOI any time.

    ReplyDelete
  6. David Emoche26 October 2017 at 07:57

    Did anyone ever imagine the gravity of corruption going on in most revenue generating institutions in the country that warranted the Memo? Before this Memo, there was no fixed percentage of revenue these institutions are to remit. They only pushed in the crumbs of their embezzlement.

    ReplyDelete
  7. David Emoche26 October 2017 at 07:58

    To end the madness in the country, NOI came up with a brilliant strategy to stop corruption: Each institution must remit at least 25% on the revenue generated. Since, the excuse for them is expenditure, they were allowed to use the remaining 75% on expenditure. Intelligent. Nigeria needs more women and leaders like Okonjo Iweala

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  8. David Emoche26 October 2017 at 07:59

    Can we just stop this senseless blame game and face the real issues?

    ReplyDelete
  9. David Emoche26 October 2017 at 07:59

    Cynics have the same quality. They believe the lie, and refuse to get the facts for truth. NOI brought sanity to the Federal Government. Her works are indelible.

    ReplyDelete
  10. David Emoche26 October 2017 at 08:00

    No government is clean. But twisting the good intentions of others doesn’t make you right.

    ReplyDelete

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