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Thursday, January 12, 2012

Finance Minister, Okonjo Iweala buys N1.2 billion mansion in Abuja

As Nigerians groan over fuel subsidy removal, one of the proponents and architect of the controversial policy, Ngozi Okonjo-Iweala has just purchased a massive home in Maitama, Abuja for a whooping N1.2 Billion, pointblanknews.cominvestigation has revealed.
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.
Okonjo-Iweala through a United States based company owned by her brother Chi-Chi Okonjo-GeorgeTown Consultancy, allegedly pocketed about $2 Billion in commission inthe last debt buy back deal under the President Olusegun Obasanjo’s administration. sources hinted that Okonjo-Iweala forced her brother’s firm, down the throats of the Finance Ministry, and even the Federal Capital Territory (FCT), under Mallam Naisr El-Rufai when she was minister under Obasanjo.
On that Nwaora close, off Gana Street, Maitama, Abuja, are five massive properties with price tag between N1.25 Billion and N1.4 Billion.
“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,” an Estate agent with EFAB Properties confided in
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. From July 2003 to June 2006 she served 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 received as much as $311,000. The president's pay, when you include expenses, lands in themid-$400,000 range.
The Coordinating minister’s mansion, isa 7 bedrooms duplex with boys quarters and a swimming pool, a massive Masters Bedroom with an adjacent bedroom dubbed “ Madam’s Bedroom. The mansion, which is still unfurnished, could wear a tag of over N2billion after furnishing.It has a red clay roof
The property is complete with top shelf marble importedfrom Italy, gold trimmings and chandeliers in the living rooms, bedrooms and a very expansive kitchen.
Sources told pointblanknews.comthat the property was built by a popularAbuja estate mogul, and owner of EFAB Properties Limited, Fabian Nwaora.
A source at the EFAB Properties who referred Dr. Iweala as“Madam”, told Pointblanknews.comthat 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 led to her sack by the Obasanjo’s administration, when he discovered that Okonjo-Iweala made tons of cash from thedeal 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 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 15thMarch 2004 requesting an approval for a RUNNING OPEARTIONAL REVIEW ROR) on the Ministry of the FederalCapital 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.
2. Please accept this letter as an approval for the Running Operational Review onthe request indicated above.
3. Do accept the assurances of my continued highest regard.
Yours Sincerely, (Signed) Dr. Ngozi Okonjo-Iweala, Minister of Finance.”
source: pointblanknews

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