Former Nigeria’s minister of Finance, Dr Ngozi Okonjo-Iweala may been in for turbulent times as
President Muhammed Buhari today ordered the Ministry of Finance to provide explanations on the whereabouts of the foreign loans of USD1.005 billion obtained for rail projects which was allegedly diverted under the watch of Okonjo Iweala.
The Permanent Secretary, Ministry of Transport by the Permanent Secretary, Alhaji Mohammed Bashar while briefing the President disclosed that only $400 million is left of the loan.
Bashar tabled some challenges facing the transport and maritime sectors such as encroachment on railway land, lack of security on inland waterways and some vague agreements between the Nigeria Ports Authority and ports concessionaires.
The former minister was powerful during the tenure of Goodluck Jonathan. She called the shots and controlled the nation’s treasury.
