IT may be harsh times for the average Nigerian out there, but those at the highest levels of power in Nigeria continue to enjoy lavish privileges, even as they recommend further austerity measures as the removal of oil subsidy for the rest of their fellow citizens who already are battling with harsh economic realities across the country.
And in spite of denials coming from the powerful Minister of Finance, Dr. Ngozi Okonjo-Iweala, there are incontrovertible evidence that she is the owner of a property estimated at about eight million dollars (about N1.2 billion) located at the Maitama District, in the Federal Capital Territory city of Abuja.
The Finance minister allegedly paid for the property located at No 3 Nwaora Close, off Gana Street, Abuja in November 2011, according to a source at the Property Management office.
Mrs. Okonjo-Iweala, who previously was alleged to have pocketed about $2 billion through a United States based company owned by her brother, Chi-Chi Okonjo-GeorgeTown Consultancy, as commission in the last debt buy back deal under the President Olusegun Obasanjo’s administration, allegedly pressured then-FCT Minister, Mallam Nasir el-Rufai and the Ministry of Finance to accept her brother’s firm in business deals with the government.
Five massive properties, with price tag between N1.25 Billion and N1.4 Billion, are situated on the very same street as the property believed to be owned by Dr. Okonjo-Iweala.
“We still have other properties worth N1.25 Billion, N1.3 Billion and N1.4 Billion. The one we sold to madam was for N1.2 Billion,” said an Estate agent with EFAB.
Dr. Ngozi Okonjo-Iweala was a Managing Director of the World Bank.
From June to August 2006, she was Minister of Foreign Affairs of Nigeria, overseeing Nigeria’s External Relations. She also served from July 2003 to June 2006 as Minister of Finance and Economy of Nigeria and Head of Nigeria’s much-acclaimed Presidential Economic team responsible for implementing a comprehensive home grown economic reform program.
“J” level employees, or vice-presidents of the World Bank earn about $289,540. Senior vice presidents and managing directors who have made it to the “K” class officials receive as much as $311,000. The president’s pay, when you include expenses, lands in the mid-$400,000 range.
The Coordinating minister’s mansion is a 7-bedroom duplex with ‘Boys’ Quarters’ and a swimming pool. There is also a massive Master’s Bedroom with an adjacent bedroom dubbed “Madam’s Bedroom”. The mansion, which is still unfurnished, could wear a possible tag of over N2 billion after furnishing. The property is complete with top shelf marble imported from Italy, gold trimmings and chandeliers in the living rooms, bedrooms and a very expansive kitchen.
The property was built by a popular Abuja estate mogul, and owner of EFAB Properties Limited, Fabian Nwaora.
A source at the EFAB Properties who referred Dr. Iweala as “Madam” told investigative journalists that the mansion was the first to be purchased among several others in the estate.
“Madam paid for the property long before others were even completed and so that one is out of the market. We only have the ones on No.1, No. 2, No. 4 available.”
That deal reportedly led to her sack by the Obasanjo Administration, when he discovered that Okonjo-Iweala made tons of cash from the deal at the expense of Nigeria. She was removed from the economic team and redeployed to the Foreign Affairs ministry.
Aside from Chi-Chi Okonjo who gets multi-million dollar contracts in Nigeria without due process through his sister, Ngozi, another very close friend of the finance minister who gets strong patronage is Bimbo Ogunseitan.
In 2004, She sent a letter dated March 18, 2004, HMF/FMF/003, addressed to Mallam Nasir Ahmed el-Rufai, OFR, Minister of the Federal capital Territory, saying:
“I am in receipt of your letter dated 15th March 2004 requesting an approval for a RUNNING OPEARTIONAL REVIEW ROR) on the Ministry of the Federal Capital Territory’s Operations.
In your letter you stated that a consultant would be hired to review the internal organization processes of the FCT and the day to day finances of the FCT.
“Please accept this letter as an approval for the Running Operational Review on the request indicated above.
“Do accept the assurances of my continued highest regard.
“Yours Sincerely, (Signed) Dr. Ngozi Okonjo-Iweala, Minister of Finance.”
The Minister of Finance under the government of President Obasanjo reportedly steered public contracts to her brother worth up to $50 million, with the help of the Minister of the Federal Capital Territory, Mr. Nasir El-Rufai, yet another WikiLeaks US cable issued in 2006 says.
The contracts were said to have been awarded to the man, identified only as “JonJon,” for consulting work for the ministry.
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Dr. Iweala however issued a denial through her spokesman, Paul C Nwabuikwu, on Tuesday night, saying that she did not acquire a N1.2 billion mansion in Maitama, Abuja.
According to him, the minister had no interest in the said property.
But the statement failed to provide any evidence to prove falsity. The minister simply said she has no interest in the property. Yet, overwhelming evidence exist to prove she owns the mansion, even as claims otherwise.
The statement from the minister reads: “It has been brought to our attention that an online news website, pointblanknews.com , has just published a story alleging that the CME and minister of finance have purchased a property worth N1.2billion in Maitama, Abuja. According to the website, the minister paid for the property in November 2011.
“The story is totally false and without foundation. The minister has no interest of any sort in the property in question.
The story also rehashed some previously published and discredited allegations against the minister and her younger brother.
“It is simply the latest in a well financed smear campaign against the coordinating minister by persons and groups whose interests are profoundly selfish and anti-Nigeria.”
Previously, Dr. Okonjo-Iweala pursued a 21-year career as a development economist at the World Bank, where she held the post of Vice-President and Corporate Secretary. This included two tours of duty (six years) working in the East Asia Region, the last tour (1997-2000) as Country Director Malaysia, Mongolia, Laos and Cambodia during the East Asian financial crisis; two duty tours in the Middle East Region, the last (2000-2003) as Director, Operations (deputy vice-president) of the region.
Dr Okonjo-Iweala also served as Director of Institutional Change and Strategy (1995-1997). In this post she assisted with the implementation of the Bank’s reform agenda. From 1989 to 1991 she was Special assistant to the Senior Vice President, Operations, an assignment that enabled participation in high level policy formulation and discussions for countries as diverse as China and Burkina Faso.