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Why Okonjo-Iweala resigned
By Charles Ozoemena, Kenneth Ehigiator & Habib Yacoob
Friday, August 04, 2006
* Cites family reason

* US policy makers instigated her, says Kalu

* Obasanjo accepts quit notice

ABUJA - FOREIGN Affairs Minister, Dr. Ngozi Okonjo-Iweala resigned, yesterday, in what was interpreted in political circles as the climax of her resentment of some happenings in the polity.


She was re-assigned to the Foreign Affairs Ministry from the Finance Ministry (her familiar terrain) only six weeks ago.

President Olusegun Obasanjo immediately accepted her resignation and praised her for her "unparalleled patriotism, dedication and loyalty."


Although Dr. Okonjo-Iweala cited "compelling need to take care of pressing family issues" as reason for her exit, Vanguard gathered authoritatively that, that could not have been all to it. According to sources, soon after she came on board in 2003 as Finance Minister from her job as Vice President at the World Bank in the USA, Okonjo-Iweala tendered her letter of resignation. The reason at that time was irreconcilable differences with her boss.

But her father, a distinguished intellectual, was said to have stepped in, pleading with the President to ignore the letter.


Once she settled down to work, she worked tirelessly to secure debt relief for the country from its creditors especially the Paris Club.

President Obasanjo acknowledged this in accepting her resignation letter yesterday when he said through the Secretary to the Government of the Federation, Chief Uffot Ekaette: "You were able to utilise the vast network and experience of over 20 years at the World Bank to contribute to getting our nation the debt relief that had eluded us for so long. You delivered on all the tasks and targets set for you in that sector."


As Finance Minister, she was also chairperson, Economic Management Team. Then came the last cabinet reshuffle that saw her redeployed to the Ministry of Foreign Affairs, a development that did not appear to go down well with her.

Sources said she believed that with all she had achieved in the ministry, she ought to have been given an opportunity to continue and besides, she thought that in the Finance ministry she was on a familiar terrain.


Things refused to get better between her and President Obasanjo who once acknowledged that she wept openly before him in her bid to secure debt relief for Nigeria from the Paris Club.

On assumption of office at the Foreign Affairs Ministry, she announced uncovering alleged fraud of $4.6 million at the ministry. The Presidency swiftly dismissed her claims, clearing her predecessor in the Ministry, Ambassador Olu Adeniji, of any wrong doing.


A statement issued by the Secretary to the Government of the Federation, Chief Ekaette said "...her reference to the $4.6 million transfer to an international organisation, namely the International Sea-bed Authority, has been mischievously publicised to imply a cover-up in the ministry until she discovered it.


"This is incorrect. Nevertheless, it has unfortunately been made to reflect negatively on the conduct and integrity of the former Minister of Foreign Affairs, Ambassador Olu Adeniji."

Ekaette said the fact of the matter was that the sum of $4.6 million was in March 2006 sent to the International Sea-bed Authority by the Ministry of Foreign Affairs instead of $22,000.

He said the head of the authority alerted Nigerian High Commissioner in Jamaica of the excessive amount sent to the authority and the high commissioner alerted the then Minister of Foreign Affairs (Adeniji) and the President.


The former Finance Minister saw this as public humiliation of her personality. She later retracted her statement, claiming she was misquoted by the press.

But the last straw was her final disengagement as Chairperson of the National Economic Management Team on Monday. Her position was taken by the Finance Minister, Mrs Esther Nenadi Usman.


However, Governor Orji Kalu of Abia State added a new dimension to the development when he told reporters in Lagos yesterday that Dr Okonjo-Iweala was instigated by policy makers in the United States of America because of her re-deployment from the Finance Ministry

The ex-minister although a Deltan by birth is married to an Abia and represented the state in the cabinet.


US policy makers instigate her, says Kalu


The resignation of Dr. Okonjo-Iweala was instigated by policy makers in the United States of America because of her re-deployment from the Finance Ministry, according to Gov. Kalu of Abia State.

The governor, who spoke in an interview in Lagos shortly on arrival from the United States, said policy and law makers in America believed her re-deployment from the Finance Ministry was to pave the way for last minute looting of the treasury by the present government.


According to him, Dr. Okonji-Iweala was removed from Finance Ministry, not because she was incompetent, but because government had something else up its sleeves.

Kalu, who noted that he expected Mrs. Okonjo-Iweala’s resignation, said: "I never believed that when they removed Okonjo-Iweala from the Finance Ministry that she would stay. I spoke with policy makers in Washington, the state department and the White House.


"I expected the resignation and the resignation was discussed in Washington by both lawmakers and policy executioners. I knew Mrs. Okonjo-Iweala would go because the government is trying to take all the money now and side-track her.


"Mrs. Okonjo-Iweala has done the right thing and I congratulate her for resigning from a government that is not workable; from a government that is very corrupt and I have told everybody that this government is very corrupt."


Obasanjo accepts resignation


Accepting her resignation, President Obasanjo in a letter signed by the SGF to Dr Okonjo-Iweala said: "Mr. President wishes to acknowledge the unparalleled patriotism, dedication and loyalty that you displayed throughout your tenure, first as Minister of Finance and lately as Minister of Foreign Affairs."


Noting the achievements recorded during her tenure as Finance Minister and Chairperson, Economic Management Team, he praised her "for the success of the reform programme in the finance sector with clearly visible results being applauded world wide and by all Nigerians. You were able to utilise the vast network and experience of over 20 years at the World Bank to contribute to getting our nation the debt relief that had eluded us so long. You delivered on all the tasks and targets set for you in that sector by Mr. President. At the Ministry of Foreign Affairs, you have within this short time set a tone for a transformation of the Ministry. This administration will certainly miss you


"Mr. President believes that although you left the cabinet, you will as a patriotic Nigerian continue to make positive contributions to the development of your beloved country and wishes you every success in your future endeavours," he said.


Senator express mixed feelings


The resignation of Dr Okonjo-Iweala from the Federal Executive Council yesterday elicited mixed reactions from Senators with some commending her and others expressing reservations that her policies did little to alleviate the lot of the common man.

While some of the lawmakers appraised her performance in the cabinet as helpful to the improvement of the nation’s foreign economic profile including the reduction of the nation’s external debts, some said a proper assessment would only be given after the present administration.


Among those who commented yesterday were Senators Baba Tela (PDP, Bauchi North), Emmanuel Azu Agboti (PDP, Ebonyi South), Farouk Bello (ANPP, Kebbi Central), Badamaisi Maccido (ANPP, Sokoto North), Abubakar Maikafi (PDP, Bauchi South) and Joy Emodi (PDP, Anambra North).


Senator Tela: "I think she will be remembered as one of the most vibrant Finance ministers that we ever had. She was confident. She was focused even though when she came in she had a problem to get Nigeria out of the debt trap. She succeeded in ensuring that our debt profile was totally reduced and I think she will go down in memory lane as one of the ministers who really took Nigeria out of serious economic problems and wherever she finds herself, she will be well received."


Senator Agboti: "Mrs Okonji-Iweala is a woman of substance. She was very careful in her approach to national issues and in my opinion, for her service overrides any other consideration. We will miss her."


Senator Farouk Bello: "I think that is the most honourable thing for her to have done. This is on the basis that she had been leading the Economic Team and two things could have happened. If she had performed well, there is no reason for removing her but removing her would mean that the President has lost confidence in her in one way or the other."


Okonjo-Iweala cites family reason


Speaking on her resignation on television last night, she affirmed that she was leaving to "take care of my family and Mr. President has been gracious enough to allow me leave."

She was "grateful for the opportunity to serve" and described her experience in government as wonderful. She was also "grateful to God and all Nigerians."

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Last Updated: Fri 04th August, 2006 5:22:26 am
Ngozi Iweala resigned for safety



-Saharareporters, New York



Further details emerged today, why Mrs. Ngozi Okonjo- Iweala resigned her federal ministerial appointment upon return from London where she was attending debt relief negotiation with the London Club.



According to a family source, Ngozi traveled from Lagos to Delta State by road shortly before her trip to London, accompanied by a retinue of aides. She flew from Delta State to London via Lagos and commenced negotiations while she was in London on behalf of the Federal government, negotiating $4 billion loan forgiveness with the London Club of creditors which would have Nigeria part with another $2 billion.



Her removal as the headship of Obasanjo’s “Economic Management Team” was brought to her attention by her friend on Tony’s Blair commission for Africa, though she was very upset about her unceremonious removal, she took it calmly promising to give president Obasanjo “a piece of my mind” as soon as she returns back to Abuja.



However, she received a shock of her life when her Abuja –based family informed her of a tragedy concerning her driver and protocol officers who had traveled with her to Delta State.

Saharareporters was informed that they were involved in a ghastly auto accident in her official SUV car on their way to Abuja leading to the total ruin of her official car. The driver and protocol officers were critically injured and hospitalized at an undisclosed hospital.



The foreign Affairs minister was thus advised not to return to Abuja for her personal safety. It became more worrisome for her when she could not reach President Obasanjo on his hotline. She returned to Abuja and tendered a long resignation letter to the Secretary to the Federal Government citing pressing family issues as her reason for resigning and rushed out of her office, almost practically trying to flee Nigeria.



Sources said she returned back to her Abuja home when she couldn’t find a flight to the US from Abuja as all flights were fully booked and also because she felt her resignation was well received by the president. She also decided to return because of a housing transaction said to be facilitated by the president. According to the another source, the president had compromised the “Economic Management Team” by giving them houses in Abuja and Lagos for the purposes of getting their support and loyalty towards his third term bid, Ngozi Iweala thus got a house worth N85 million.

It is not clear what she intends to do with the properties and others belonging to her family members since she was being prevailed upon to leave Abuja for Maryland USA earlier today.

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Debt Relief: Obasanjo, the Owner, Okonjo-Iweala, the Executioner
From Patrick Ugeh and Funmi Peter-Omale in Abuja, 08.04.2006

News Review

“When I became finance minister they called me Okonjo-Wahala - or Trouble Woman. But I don't care what names they call me. I'm a fighter; I'm very focused on what I'm doing, and relentless in what I want to achieve, almost to a fault. If you get in my way, you get kicked."
Dr. Ngozi Okonjo-Iweala said this in an interview published last Tuesday in The Guardian of London, but if she is a strong woman as she claimed, President Olusegun Obasanjo is also a strong man. And when you have a clash of a strong man and a strong woman, then someone would have to get kicked.
But Okonjo-Iweala, until yesterday Nigeria's Foreign Affairs Minister would be remembered for her role as Finance Minister and head of the Economic Team that has been responsible for implementing Obasanjo's sweeping economic and social reform agenda from 2003.
It is recalled that in the efforts to win debt concessions for Nigeria in his first term in office between 1999 and 2003, Obasanjo travelled the world but got only vague promises that, even by his own estimation, amounted to nothing.
After his swearing in for a second term in May 2003, he decided to bring in Okonjo-Iweala, then a World Bank Vice-President, who had for a year served him in informal advisory capacity, to manage the Finance Ministry and leverage her contacts for the debt relief agenda.
She was, therefore, brought in to execute what was no doubt, Obasanjo's dream: to relieve Nigeria of the debt bruden.
Said Okonjo-Iweala of the era preceding her appointment: "The president told me his dream was that one day he would ask, 'How much do we owe and what did we last pay?'; and someone would push a button and it would be printed out." When the offer for her to be Finance Minister came, she said she was in a kind of turmoil: "I was in a bit of a shock," she says, "I really loved what I was doing, but when I was asked to come, how could I not go?"
But she came with a precondition that she would pick members of the economic team which Obasanjo accepted while her second condition created the initial friction with the president.
Her insitence on having the Budget Office headed by Mr Bode Agusto under the supervision of her Ministry was resisted by Obasanjo and she tendered her letter of resignation, a situation that put government in a bad light.
It took the intervention of Vice President Atiku Abubakar for her to retrieve her letter after which she won her battle with the Budget Office brought under her Ministry. But the first problem had been created.
Okonjo-Iweala, however, met her match when she wanted the National Planning Commission (NPC) then headed by Professor Charles Soludo to be brought under her supervision. Soludo, who is now Central Bank Governor, resisted the move and the president ruled in Soludo's favour.
Having settled on her job, however, Okonjo-Iweala began to reform the Finance Ministry while she worked with other members of the economic team, reigning in on spending while quietly working on the IMF benchmark for debt relief.
Today, her greatest achievement as Finance Minister remains the negotiation, which led to the largest debt relief deal in Africa, and the second largest debt cancellation in the Paris Club's 50-year history.
The efforts saw Nigeria's $30bn debt to the Paris Club partly written off, saving the country $18bn. As a result of the debt cancellation and an innovative Debt Buy Back Scheme, Nigeria exited the Paris Club in April 2006, thereby bringing the country's external debt burden down from $35 to $5 billion.
Okonjo-Iweala also spearheaded the drive to get Nigeria's first ever BB- Credit rating in January 2006 from international ratings agencies Fitch and Standard & Poors, a rating that placed Nigeria in the league of several emerging market countries such as Brazil, Venezuela, Vietnam, Philippines and Turkey.
A 1976 Harvard graduate, the mother of four, aged 17 through 23, who studied rural Nigerian financial markets at doctoral level at MIT in the late 1970s and early '80s, with the expectation that she would one day return to the country, started her career at the World Bank, and accumulated experience in East Asia, Africa, and the Middle East. She attained the post of vice president and corporate secretary, the first woman to achieve these positions.
Okonjo-Iweala and the 12 other ministers have launched a number of economic and social reforms. In the main, they are aimed at zero-tolerance for corruption; international and local bidding for government contracts; privatisationg of state-owned business through the Bureau of Public Enterprise; and the Extractive Industry Transparency Initiative, which seeks to bring openness to the oil sector.
But in a dramatic move, Okonjo-Iweala was recently redeployed from the Ministry of Finance to the Foreign Ministry, a change she was displeased with and said as much openly, which is not excatly tactical.
While many therefore commend her for being a good professional, it is agreed that her understanding of politics was very poor and that may have led to the crisis that eventually culminated in her resignation.

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