By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: My Life Was Threatened For Saving Nigeria $3.6bn – Okonjo-Iweala
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | My Life Was Threatened For Saving Nigeria $3.6bn – Okonjo-Iweala

News

My Life Was Threatened For Saving Nigeria $3.6bn – Okonjo-Iweala

Daily Report Nigeria
Daily Report Nigeria
Published: June 14, 2025
Last updated: June 14, 2025
3 Min Read
Share
My Life Was Threatened For Saving Nigeria $3.6bn - Okonjo-Iweala | Daily Report Nigeria
SHARE

Director-general of the World Trade Organisation (WTO), has narrated how her life was threatened for saving Nigeria huge sums of money from fraudulent oil subsidy during her time as the country’s finance minister.

Okonjo-Iweala who served as finance minister under the administrations of former Presidents Olusegun Obasanjo and Goodluck Jonathan narrated her ordeals during an interview organised by Atlantic Council, a United States think-tank on international affairs, on Tuesday.

Also Read: EFCC Will Prosecute Uzor Kalu Again, Says Bawa

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

“And just by having an integrated financial management system, we were able to cut down on the phenomenon of ghost workers, you know where people used to put additional people on the payroll in the ministries, ghost pensioners, because ghost workers will graduate to ghost pensioners, and so we got rid of that and saved $1.1 billion for the government,” she said.

“So that is, we were fighting other types of corruption. We had an oil subsidy system in which we used to pay marketers.

“Oil marketers who brought in refined oil, you know, we paid them the difference between the market price, and the subsidised price that the government was mandated for selling oil to people.

Also Read: Corruption is Nigeria’s Major Problem; Akpabio

“And so, that was when I came the second time. This was a big problem. When I left government the first time in 2006, these subsidies were about $2 billion, when I came back, the first thing we noticed was that it had grown to $11 billion.

“So, I asked President Jonathan that we could audit the oil accounts which he fully supported. When we audited, $8.5 billion of the accounts, we found $2.5 billion of fraudulent claims and with his backing, we refused to pay that to the marketers and that led to a series of problems, which I won’t bore you with, including threats to my life.

“My mother being kidnapped for five days was one of the worst periods of my life and it was a very tough period.

“But, that being said, I think the privilege of serving my country as finance minister for several years, to being able to work on some reforms is one of the best things I’ve ever done.”

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:Daily Report NigeriaNgozi Okonjo Iweala
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

NNPCL to Hand Over Nigerian Refineries to Private Firms
BREAKING: NNPCL Cuts Fuel Price to N900, 48 Hours After Hike
Business
CHAN Group D: Super Eagles Sink to Bottom After Senegal defeat | Daily Report Nigeria
CHAN Group D: Super Eagles Sink to Bottom After Senegal defeat
Sports
Mourinho, Ronaldo Mourn Costa’s Death | Daily Report Nigeria
Mourinho, Ronaldo Mourn Costa’s Death
Sports
MKO Abiola’s Wife, Dr Doyin Abiola, Dies at 82 | Daily Report Nigeria
MKO Abiola’s Wife, Dr Doyin Abiola, Dies at 82
News
Church of Nigeria Cuts Ties With Church in Wales Over Lesbian Archbishop | Daily Report Nigeria
Church of Nigeria Cuts Ties With Church in Wales Over Lesbian Archbishop
News

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

BREAKING: Fire Razes Asokoro Hospital in Abuja | Daily Report Nigeria
News

BREAKING: Fire Razes Asokoro Hospital in Abuja

June 15, 2025
BREAKING: FG Queries Channels TV Over Ortom Interview | Daily report Nigeria
News

‘Don’t Blame Buhari For The Mess You Put Benue’ — Presidency Hits Ortom

June 15, 2025
Lawmaker Pushes For Bill to Amputate Corrupt Leaders, Politicians | Daily Report Nigeria
News

Lawmaker Pushes For Bill to Amputate Corrupt Leaders, Politicians

June 15, 2025
Nigeria Immigration Commences Investigation Into Cause Of Fire Outbreak | Daily Report Nigeria
News

Nigeria Immigration Commences Investigation Into Cause Of Fire Outbreak

June 14, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?