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Okonjo Iweala: Oversize ego, capacity and disappointing outcomes

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Okonjo IwealaNgozi was always willing to come back to Nigeria if there something significant to do, like been Finance Minister again and again – Mallam Nasir El-Rufai

Our time has been called the age of information and communication technology, due to its impacts in shaping our daily life. However, some scholars have argued to the contrary, that, even though information and communication technology is playing a significant role in our lives, but, economists who are the custodial of designing and proposing policies and strategies that are shaping our lives are more critical and important. 

Thus, they concluded that, the 20th and 21st century can be said to be, the age of Economist, if the prevailing realities are anything to go by. Interestingly, irrespective of which side of the pendulum one decided to swing to, one thing is certain, the sensitive nature and impacts economic theories, economists and policy postures, had and are still playing in shaping our world, one will agree with these scholars and analysts; because, economists are now key advisors to government, presidents, prime minister and even autocrats and dictators, in addition to their obvious and expected place in the world of business, banking and finance. 

The celebrated twentieth-century economist John Maynard Keynes well describes the influence of economics in our time, as thus: “the idea of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from intellectual influences, are usually the slaves of some defunct economist”. For me these are the exact words to our economists, especially, those specialists and the so called experts and consultants from World Bank, International Monetary Fund and other International Financial Organizations.    

These economists over the years had and are still mesmerizing us and government officials around the world with their ideas, theories, projected statistics and beautiful nonsense which neither solve any global problems, nor reduces the level of economic inequality, poverty, and exploitation of global economy and humanity in general by few developed countries and few multinational corporations. John Perkins the author of “The Confession of an Economic Hitman” did argued and exposed the jobs of these international economists, that, “Economic Hit Men (EHMs) are highly paid professional who cheat countries around the globe out of trillions of dollars.

They funnel money from the World Bank, the U.S Agency for International Development (USAID), and other foreign “aid” organization into the coffers of huge corporations and the pocket of few wealthy families who control the planet’s natural resource. Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization”. Perkins further revealed that their job; “was to encourage world leaders to become part of a vast network that promotes U.S commercial interest.

“In the end, those leaders become ensnared in a web of debt that ensures their loyalty; we can draw on them whenever we desire- to satisfy our political, economic, or military needs. In turn, they bolster their political position by bring industrial parks, power plants, and airport to their people; the owners of U.S engineering/construction companies fabulously wealthy”. This is the job of these few technocrats and economic jobbers that parades themselves as international economic experts and specialists around our various government houses, agencies and financial organization.   

It is within this context; one will understand and appreciate the roles and impacts our overrated, disgrace casino and voodoo economist- two times former Minister of Finance Ngozi Okonjo Iweala [pictured above] had played in managing or destroying Nigerian commonwealth. Ever since Madam Ngozi Okonjo Iweala made her first landmark arrival in Nigerian public sector as Minister of Finance during the second coming of Chief Olusegun Obasanjo administration (2003-2006), so much have been written about her especially the projected imageries of financial frugality, honesty, competency, intelligent and wherewithal to turn round our moribund and mushroom economic sector into an ambiance of strong economy and financial discipline. 

Unfortunately, Ngozi Okonjo Iweala during that epoch, ended up as a very strange and mysterious woman to many Nigerians. This mystery revolves around the inability of Nigerians to match her projected exaggerated capacity and overrating with reality on ground when government of Chief Olusegun Obasanjo finally bowed out of office; because they left more poverty, unemployment, collapsed of industries, fragmentation and dislocations of millions of Nigerians. If we may recall it was Madam Ngozi and members of Chief Olusegun Obasanjo’s economic team that pioneered economic reform policy titled “National Economic Empowerment Development Strategy” (NEEDS), which promise to achieve poverty reduction, 10% growth rate in agriculture, single digit inflation, job creation, exchange rate stability, and annual growth rate of at least 7%. Unfortunately, the policy failed to deliver on its projected promises.

The economic team under Madam Ngozi paraded themselves as the all-knowing, all powerful and omniscient economic messiahs that Nigerians most accept and bow to, because in their hands lies the secrets of Nigerian development. Criticism and cautions from well-meaning Nigerians where not only thrown to the dustbin of history, but, the economic team where quick to confuse and blackmails serious-minded Nigerians with statistics and supports from their partners and friends in International financial institutions. During that epoch, all manners of rating agencies were rating Nigerian economy with economic projections and awards to Nigerian banks as the best in Africa. 

Unfortunately, for the casino, voodoos economists and economic hit men and women in the economic team, the truth and their evil destructions against the Nigerian economy and people were finally exposed as their protected economic liars and statistics began to crumbles before their very eyes; such as the collapsed and distress of the much celebrated Banking consolidations, wanton thieveries and looting of the Nigerian commonwealth and pervasive poverty, unemployment and economic stress among various households in the name of economic reforms.

Significantly, the much talk about Debt cancellation or forgiveness is not only a ruse, but, the biggest fraud of all time. Nowhere in history, where a poor and underdeveloped country like Nigeria, ever submitted her hard earn resources to the tune of $18 billion to unknown criminals or creditors who are operating as either London or Paris club like what the economic hit men and women advised our ignorant President Olusegun Obasanjo to do, on that faithful day. It is indeed celebration time and more wealth to idle, greedy and selfish bandit operating as international club of creditors.

Interestingly, for pioneering such record breaking banditry against their country, the likes of Madam Ngozi Okonjo Iweala and Madam Oby O. were rewarded with a plumb promotion as Managing Director and Vice President Africa of the World Bank respectively. This is indeed a reward for helping to steal and destroy their country. In a normal circumstances, when the empire builders wants to send an economic hit man or woman to any country, they often choose someone from another country, to do so on their behalf, but, in the case of Nigeria, due to lack of conscience, humanity, patriotism and discipline, they often send Nigerians and some characters to do the magic for the sake of little commission; a commission in which the likes of Ngozi and the rest of the economic team did get from the debt cancellation aftermath.

The reality is that, Madam Ngozi ascending to public office and her projected capacity is no doubt exaggerated, by various groups of journalists and PR firms, who not only laundered her image, as the sophisticated economists, but, projected her as a strong anti-corruptions and financial discipline wizard. However, in a countries, that knows what they are doing the, likes of Ngozi and her co-travelers wouldn’t even be looking at, talk less of reconsidering her and co-travelers for public office. But, in our banana resoluble Ngozi Okonjo Iweala was recall again to complete her final onslaught against the Nigerian State and people, by the son of a fisherman Former President Goodluck Ebele Jonathan. 

The President was not only naïve and inexperienced, but, conspirators who knew the inner working and corrupt tendencies of Madam Ngozi Okonjo Iweala, blackmail the clueless son of Fisherman to handover sweeping powers to the woman who pioneered Nigerian economic downfall 2003-2006. She was upgraded to an unelected Prime Ministerial position – the Coordinating Minister of the Economy; a position and unflinching freedom she wanted from the then President Olusegun Obasanjo which he denied her, because of the implications to the country and himself. But, the anything goes and clueless son of fisherman, he did hand over economic powers to her, while he retired to his beer parlour to continue drinking to supper. It was a gangster paradise to the gangsters and economic hit men and women to enjoy the freewill and day in ravaging, looting and concluding what they started during her first coming.

A field day indeed it was in the last 6 years, if the quantum of destructions and looting of Nigerian commonwealth under the watchful eyes of the so called Financial and economist discipline and intelligent former World Bank Managing Director Ngozi Okonjo Iweala is anything to go by. Interestingly, under Madam Ngozi’s watchful financial discipline eyes fuel subsidy fund skyrocketed to an unimaginable and unmanageable figures. 

Ironically, instead of our economic hit woman to rise to the occasion to tell Nigerians the truth and call for probe, Madam wanted to shift the burden of her incompetence, corruption and recklessness to the masses by advocating for removal of fuel subsidy, the normal anti-poor and human cliché of the Brettwood Financial Institutions. A move this time around Nigerians rejected and challenge on the street courts across the nation. A message of rejection and disappointment to Madam Ngozi and her economic bandits for pioneering such bunkum; unfortunately, Madam Ngozi and her economic bandits failed to understand nor appreciate the changing terrains and dynamics of the Nigerian landscapes during her second coming.

Nigerians were not only reawakened against liars and unpatriotic policies of Brettwood financial stooges, but, it shows the true complicity, conspiracy and multiplicity of imageries of supposed trained and professional economic wizard- Madam Ngozi Okonjo Iweala. Equally important, is the scandal of $20 billion unremitted revenue by the NNPC into the Federation account, which was exposed by the courageous Central Bank Governor Mallam Sanusi Lamido Sanusi. Madam Ngozi was not only caught off guard, but, her so called fiscal and courageous stand against corruption was finally exposed to the world. In an ideal society, such scandals will force the Minister of Finance and all those responsible for oversight function to resign and face persecution in the court of law. But, in our banana and resoluble republic Madam was just shamelessly given excuses and defending the so called criminal conspiracy against Nigerians.

To many this is surprising, but, to some of us, familiar with the antics of casino economists and economic hit men, we are not surprise, but, only confirmed what we already knew about these hypocrites and morally bankrupt former Minister of Finance. At least Mallam Nasir El-Rufai has simply told us who this woman is beyond the image laundering thing and various Public Relation show of absurdity. Mallam Nasir El-Rufai in his now famous book “An Accidental Public Servant page 177” had this to say about the woman he work closely with “Ngozi had a very good relationship with all manners of politician including the likes of convicted felon and then Governor James Ibori and she indeed had excellent relationship with some of the corrupt legislators and Governors many of whom the rest of us would not say hello to. She is realistic student of power and wanted to be on the side of the powerful, the winning side all the time”. 

On the side of the powerful and winning side, he said and history has proven so today. Madam for fear of losing out, she rather dinned with the criminals and corrupts elements in the afternoon, and goes to bed with economic devils in the night, while posing as discipline and pro-people economic messiah in morning. Indeed, Madam Ngozi not only supervised, endorsed and tactically covers corrupt practices and looting of the commonwealth, but, what happened in the last 6 years, generally shows her lack of moral conducts, disciplines and conscience when it come to power, status, responsible and relevance. She just wanted to be close to power and the aroma and tasty foods and resources that come with it.

Unfortunately, this overrated economist and so called discipline World Bank economist has finally been exposed to the world to see her character and expertise of massaging and covering corruption. She not only transmuted from coordinating minister of economy to coordinating minister of corruption, but the extent of damage to the Nigerian economy is beyond our imagination. Madam Ngozi was really coordinating corruption; a job she did perfectly well and dwarfs all former Ministers of Finance in history. 

The rampant looting and destruction of this country’s economy under the watchful eyes of Madam Ngozi Okonjo Iweala is not only sickening, but, reflected the ethics and principles Madam stood for. One finds it surprising and confusing when, Madam attempted to deny all these atrocities against her person and the government she served. We begin to wonder, why is Madam Ngozi living in self-denial? Or was she on autopilot as Minister of Finance and allow criminals and destroyers of our commonwealth to have a field day? Or just the normal egomaniac attitude and arrogance display of perfidy Madam Ngozi Okonjo Iweala is known for?

Unfortunately for Madam, the more she attempted to defend herself, the more she opens more windows for serious minded economists and analysts to ask critical questions. Indeed, Madam Ngozi Okonjo Iweala is a disappointment to her gullible and ignorant friends and fans, but, to us, she just confirmed her true character of pretense, incompetent, corrupt minded, and egomaniac disposition to be in every government as long as that will offers her opportunity to be Minister of Finance and close to power blocs as exposed by her bosom friend. 

For me, Ngozi Okonjo Iweala is just an economic scammer, strategically and intellectually empty, morally bankrupt and spiritually hopeless as she supervises the destruction of her country men and women to further her career in international agencies and organizations. But, she has indeed push her luck too far, as the world is now aware of her supervisory and corrupt tendencies and are wiser by half. We are indeed grateful to the century of truth we find ourselves, as Madam Ngozi Okonjo Iweala’s oversize ego, exaggerated capacity and disappointing outcomes is now in the public domain.

Indeed, history and posterity will never forgive them for the destruction they have cost this country. Generation and generation will be inform of the role and destructions this supposed mother and her band of economic gangsters pioneered and closely supervises the economic and human destruction of her country, for their selfish and international agenda. But, we just want Madam Ngozi and her co-looters to understand and appreciate, that, judgment day start from this temporary world, before they meet their Creator. And there judgment day, start from the day they left office and we shall listen and curse them, as the current government relished out figures of looting of our commonwealth under their watchful eyes and approval. 

The reality today, is that Madam Ngozi Okonjo Iweala is just an egomaniac, over exaggerated and overrated international voodoos Economist. We don’t need to misunderstand the words of John Maynard Keynes, John Perkins and Mallam Nasir El-Rufai quoted above, if only we look at Madam Ngozi Okonjo Iweala and her disappointing outcomes and management of the Nigerian economy, we get, the real picture.

Bukhari Bello Jega


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