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Okonjo- Iweala Opens Up on the $1bn Scam “My $1bn China-Exim Bank story”
More drama in the series of allegations levied against the immediate past Minister of Finance, Dr. Ngozi Okonjo-Iweala, as she denied that the China-EximBank loan for the rehabilitation of the Lagos-Kano rail line was diverted as alleged by the Permanent Secretary of the Federal Ministry of Transport, Alhaji Muhanned Bashar.
Alhaji Bashar had told President Muhammadu Buhari during the ministry’s briefing session, last week, that only $400 million of the $ 1 billion China-EximBank loan meant for the project was spent, creating the impression that over $600 million was diverted by the last administration.
According to him, only $400 million was released by the Ministry of Finance for the project.
However, Dr. Okonjo-Iweala said, yesterday, that the Permanent Secretary did not get his facts right, as there was no such $1 billion China-EximBank loan for the Lagos-Kano rail project, in the first place.
She gave details of the China-EximBank loans for various projects in the country through a statement by her Media Adviser, Mr. Paul Nwabuikwu, and insisted that the Lagos-Kano rail project was not one of them.
According to the minister, a total of $2.084 billion was secured from the Chinese bank and that the facilities were being managed directly by the bank which disburses the funds directly to the Chinese contractors, based on certificates of work done.
The breakdown
The breakdown showed that $500 million was for the on-going expansion of four international airport terminals in Abuja, Kano, Lagos and Port-Harcourt.; $500 million for the Abuja Light Rail Project; $984 million for the Zungeru hydroelectric power project; and $100 million for the Galaxy Backbone project.
The statement read in part: “I want to state categorically that there is no truth in the reported allegation. Anyone who is interested can cross-check with the China-EximBank or the Chinese Embassy.
“It is noteworthy that even though President Buhari, in his reported comments on the allegation, made no reference to Dr. Okonjo-Iweala but rightly stressed the need for due process and transparency in the execution of public projects, a sponsored media campaign has once again been launched by political elements to make the former minister the culprit in a non-existent scandal.
“The alleged diversion has no substance for the simple reason that the Kano-Lagos project was not even among the projects presented for funding by the China Exim Bank for several strategic infrastructural projects across the country.
“In fact, it was the Lagos-Ibadan rail project, not Lagos-Kano rail project, that was proposed in the original application to the China-EximBank. But in the end, no funds were assigned for the Lagos-Ibadan rail project by the China-EximBank.
“It is also important to note that even if the alleged project was on the list of China-EximBank funded projects, diversion of any Chinese funds would have been extremely difficult because the terms of the contract and the processes would simply not have permitted such action.
“The procedure is that funds for approved loans remain in the China-EximBank and are released directly to the Chinese firm executing the contract only after the presentation of duly certified proof of work by the responsible ministry, in this case it would have been the Federal Ministry of Transport, based on the agreed milestones.
“For the sake of emphasis, the China-EximBank does not disburse money directly to government and, therefore, the issue of diversion does not arise.
“This is yet another example of the kind of whispering campaign of calumny, innuendo, misinformation, and outright distortions being perpetrated by certain political elements against Dr. Okonjo-Iweala in a bid to try to damage her reputation.”
celebrity radar - gossips
Buratai Celebrates Tinubu’s Bold Move: A New Dawn for North East Roads.
Buratai Celebrates Tinubu’s Bold Move: A New Dawn for North East Roads.
celebrity radar - gossips
Akintunde Ogundare Records Another Feat, Graduates with Distinction from University of Guelph-Humber
Akintunde Ogundare Bags Distinction in Canada, Extends Academic Excellence Streak
A Nigerian scholar, Akintunde Ogundare, has once again demonstrated his commitment to academic excellence by graduating with Distinction from the University of Guelph-Humber, Canada, adding another prestigious qualification to an already impressive educational record.
Ogundare earned a Bachelor of Applied Science (BASc) in Community Social Services with Distinction, a feat that underscores years of dedication, resilience and an unwavering pursuit of knowledge.
The convocation ceremony is slated for June 15, 2026, at the Toronto Congress Centre, North Building, Etobicoke, Ontario, where family members, friends and associates are expected to celebrate the milestone.
The latest achievement extends Ogundare’s remarkable streak of academic success across institutions in Nigeria and Canada.
Before obtaining his latest degree, he graduated with Distinction from George Brown College, Canada, where he earned a Diploma in Social Service Work. He also holds a Bachelor of Science in Business Administration with Second Class Upper Division from Joseph Ayo Babalola University and a Higher National Diploma in Urban and Regional Planning with Upper Credit from Lagos State Polytechnic.
Beyond his academic accomplishments, Ogundare is also known for his commitment to humanitarian service and community development. He serves as Secretary of the Allmen Progressive Association, where he has played an active role in promoting initiatives aimed at improving the welfare of members and supporting community-based causes. Associates describe him as a selfless leader whose passion for humanity and dedication to service have earned him widespread respect.
Colleagues and admirers have described Ogundare as a lifelong learner whose determination to excel has remained consistent despite the challenges of balancing academic pursuits with personal and professional responsibilities.
His achievements have also been hailed as an inspiration to young Nigerians seeking opportunities for academic and professional advancement, proving that discipline, perseverance and continuous self-development can yield exceptional results.
As he joins the graduating Class of 2026, Ogundare’s story stands as a testament to the value of hard work and the transformative power of education, reinforcing the belief that excellence is built through consistency and dedication.
The latest distinction not only adds another feather to his cap but also cements his reputation as a scholar and community leader committed to lifelong learning, humanitarian service and the advancement of society.
celebrity radar - gossips
The Unfinished Conversation: Five Years of Missing T.B. Joshua BY FEMI OYEWALE
The Unfinished Conversation: Five Years of Missing T.B. Joshua BY FEMI OYEWALE
”In life we meet to part, we part to meet, but parting is the sweetest sorrow.”
Five years have vanished like a vapor, yet the echoes of his voice remain as vivid as a morning sunrise. June 5th marks the anniversary of the transition of a man who was not merely a global religious icon, but a father, a mentor, and a beacon of profound simplicity in a complex world. As I pen this, I find myself still navigating the shores of denial. How does one write a tribute to a man whose influence was as vast as the oceans, yet whose heart remained as humble as the desert sands?
The Last Assignment
Time truly flies, but some moments are frozen in the amber of memory. I recall with poignant nostalgia that I was among the final few with whom he spoke before stepping out for his last assignment on the pulpit on June 5,2021. Unknown to many, we shared an uncommon bond—a father-son relationship that stood the test of time.
Just an hour before that glorious, final ministration, my phone rang. We discussed the fulfillment of prophecies and my planned assignment to South Africa, an assignment he promised to single-handedly finance. By God’s grace, I have traveled the globe, and ninety percent of those journeys were bankrolled by him. Before ending the call, he spoke with finality: “Femi, go and watch it.” I never knew it was a parting shot. I never knew those words would be the threshold of eternity. Perhaps that is why, despite being part of his burial media committee, I lacked the courage to write until today.
From Fear to Faith: The Beginning
My journey to the Synagogue Church of All Nations (SCOAN) was written in the stars of fate. Then a reporter for Encomium Weekly, under the tutelage of the legendary Mr. Kunle Bakare, I was recommended to handle media work for a “prominent client.” When the name “T.B. Joshua” was mentioned, my heart sank.
Having cut my journalistic teeth under titans like Mr. Femi Adeshina and Mr. Dele Alake, I had heard the tales, stories of monsters, of shape-shifters, of dark magic. As I drove to Ikotun, I recited every Psalm I could muster and texted my parents my destination, unsure if I would return. I arrived expecting a beast; I was introduced to a brother. I met a man so profoundly simple, so devastatingly ordinary in his humility, that if not for his presence on Emmanuel TV, I would have sworn I was meeting an impostor. That was the day the fear died, and a lifelong relationship began.
The Man Behind the Mantle
I am not here to validate a legend; I am here to honor a human. I have been privileged to stand in his office, his personal room, his private altar, and his prayer house. What did I find? Not a demigod, but a man who lived for others.
A Heart of Forgiveness: Like the father in Luke 15, no matter the depth of the offense, a sincere “I am sorry” was all it took to be welcomed back into his fold.
The Weight of Misunderstanding: I remember the pain of the building collapse. He asked me, with tears that shattered my heart, “Femi, can you believe they said I used these people for rituals?” That was the first time I saw the iron man break.
A Channel of Healing: I recall a man brought to the prayer line who had previously declared, “Even if T.B. Joshua is the devil, if he can take this pain away, I am ready.” The moment those words left his lips, the Prophet walked over, touched him, and the healing was instantaneous.
He was a comedian, a teacher, a preacher, and above all, a man who loved his family and his ministry with every fiber of his being. If most clergy possessed even half the global influence he wielded, they would have long ago become arrogant demigods. T.B. Joshua remained, to his last breath, a servant.
A Legacy Enduring
It has been five years, yet it feels like yesterday. Many of those who cast stones in the shadows often came seeking his light in secret. Today, as we remember him, I see that legacy thriving. Prophetess Evelyn Joshua is truly holding the torch, preserving the foundation with grace and strength.
Good morning, Prophet T.B. Joshua. You live on in the lives you changed, the doors you opened, and the heart of your many disciples who will never forget the man who taught them that true greatness is found in the simplicity of love.
”He was a man globally misunderstood, yet a man whose name alone opened doors globally. He lived for others, and in doing so, he became immortal.”
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