Okonjo-Iweala begged me not to say Nigeria was broke –Amaechi, Naira drops to 390 per dollar and other major headlines you missed today!

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Immediate past Minister of Finance, Dr. Ngozi Okonjo-Iweala

The Minister of Transportation, Rotimi Amaechi, has said a former Coordinating Minister of the Economy, Ngozi Okonjo-Iweala, pleaded with him not to tell Nigerians that the country was broke.

Amaechi, who said the country went into recession under the administration of former President Goodluck Jonathan, added that the previous administration covered up with the excuse that the country was cash-strapped.

An online medium, The Cable, reported that Amaechi said this on the Osasu Show on Tuesday.According to the report, Amaechi alleged that Okonjo-Iweala, begged him to stop saying Nigeria was broke in order not to drive away investors from the country.

Amaechi, who was the Chairman of the Nigeria Governors Forum at the time, explained that the economy went into a recession due to excessive borrowing.

He said, “People just pick up words without knowing what they mean. Even under Goodluck (Jonathan) we went into recession.

“I am one of those who participated in the budget. We looked at what happened in the past and we discovered that actually if recession means three times (three quarters of negative economic growth), we have done more than the three times before we came in.

“The difference is that while our government is transparent and open, we are able to admit that, the Federal Government was saying even to me as chairman of governor’s forum, ‘Amaechi, don’t say that again’.

“If you remember as governor, I said we were broke. The minister of finance came to my office in Abuja and pleaded with me that I shouldn’t say it again. That if I said it, it would affect Nigeria in terms of investment; that investors will run away. That I shouldn’t say we are broke. I should say we are cash-strapped. That was what Ngozi Okonjo-Iweala told me.

“So, I knew as chairman of Nigeria Governors’ forum, that we had gone into recession under Goodluck. I knew as chairman of governor’s forum. And when I open my mouth to say it, that we are broke, she spoke to me not to say it.”


My becoming president was by accident - Fowon

Former Head of State, Gen. Yakubu Gowon (retd)

Nigeria’s former Head of State, Gen. Yakubu Gowon has attributed his ascension 50 years ago to the accident of history.

He said he did not nurse the ambition to be the leader of the country.

Gowon stated this when Deputy Chairman of Senate Committee on Foreign Affairs, Sen. Shehu Sani, paid him a courtesy call in Abuja on Wednesday.

Gowon was reacting to calls by some Nigerians for the reduction of age limit to 30 years to contest for presidential position in the country.

“What happened was the accident of history.

“When you have lost your leadership and there was crisis and you don’t know what to do and it happened that those within your constituency chose you, what would you do?

“I was lucky enough within the military at that time and all the officers knew me by reputation.

“I had no intention to become head of state but it is the opportunity, if opportunity presents itself and people ask you to do it then do it.

“What I have achieved is (because of) God. I had never thought of becoming head of state but there was a coup and all my senior colleagues were killed and I was the only one that survived.

“My plan was to rise in my profession and hopefully become a head in my profession but that did not happen.

“I didn’t know what happened but I had the duty and responsibility to ensure the coup in Lagos did not succeed’’, he said.

The former head of state advised younger Nigerians to prepare themselves academically and morally to take advantage of opportunities when they present themselves.

Gowon became the leader of Nigeria, following the military coup of July 1966. The earlier coup had brought democracy to an end in the country, with the killing of regional political leaders in the northern and western regions, the prime minister and senior military officers of northern extraction.

As a military leader, he reigned for nine years, during which Nigeria also fought a civil war (1967-70).

Naira drops to 390 per dollar

 

Naira

The naira continued its slide on Wednesday, dropping to 390 against the United States dollar at the parallel market as foreign exchange scarcity persisted.

The naira, which dropped to 382 against the United States dollar on Monday down from the 380 on Friday, had been little-changed on Tuesday, hovering between 381 and 382.

A bureau de change operator told The PUNCH that Wednesday’s drop was due to increased demand despite the scarcity of the dollar.

“We don’t think it will rise to N400 today, but I don’t know of tomorrow,” he said.

The naira has been under a persistent pressure as dollar scarcity continues to weigh on the local currency at both the parallel and interbank forex markets.

Economic and financial experts said inadequate forex liquidity at the interbank market was taking a toll on the parallel market.

Analysts had predicted that the naira would weaken further against the dollar this week owing to limited dollar supply as foreign portfolio investors continued to stay on the sidelines until the Nigerian economy showed signs of recovering from the impact of currency controls.

Ex-Delta State governor, Felix Ibru, buried

Guard of honour for late Felix Ibru at his hometown

The corpse of Felix Ibru, former governor of Delta State, who died on March 12, arrived the country this afternoon and was immediately buried in his hometown, Agbarho-Otor.The body of the late businessman was accorded a guard of honour by policemen with 10-gun salute, Punch reports.
Earlier a funeral service was held for him at the All Saints’ Cathedral Church in Ughelli.
Ibru, the first civilian governor of Delta State, died on March 12 at the age of 80.
The funeral service was attended by Delta State governor, Sen. Ifeanyi Okowa; former governor of Delta State, Mr. Emmanuel Uduaghan; and Chief Edwin Clark, among others.

 Landlord hangs self, leaves suicide note in Ibadan

A 48-year-old landlord on Tuesday hanged himself in Ibadan, leaving behind a three-page suicide note.

The incident happened in Idi-Ose along Akan road in Ona Ara Council Area of the city.

The deceased, Popoola Adepoju, was found in his room dangling from a rope tied to a ceiling fan.

Residents of the area said the father of three sent his children on an errand before taking his own life.

Adepoju’s wife told the police that her husband left the defunct National Electric Power Authority in Abeokuta two years ago but his entitlement was yet to be paid. She added that he had engaged himself in cement business on a small scale before his death.

His family initially refused to hand over the suicide note to the police but after the intervention of the general chairman of the Idi Ose community, Taiwo Alimi, it was taken to the Akanran Police Division.

The deceased was interred in his house after the Divisional Police Officer at the station, Aliko Dankoli, gave the family permission to proceed with his burial arrangement.

A member of Four Square Gospel Church, where Adepoju worshipped with his family, said he attended Monday morning service in the church and never gave a sign of depression.

He said, “Adepoju was a devout Christian, pious and was talented. He was always offering tangible suggestions whenever the Welfare Committee of the zone met. What could have informed this action is unclear.

“We were together at the early morning service at our church on Monday. We usually have such service on the 1st, 2nd and 3rd of every month. When I saw him last on Monday evening after the evening service, he never gave the premonition that he was going to commit suicide.”

A landlord in the area, who did not give his name, however gave a hint that the deceased was going through a difficult period.

He said that the deceased had wanted to sell his Honda car for N250,000 but only got a buyer who was ready to pay N150,000.

He said Adepoju had planned to buy a smaller car to be used as taxi to supplement what he made from the small cement business he was doing.

He said, “he wanted to sell the car so he could buy a small vehicle which he would be using as cab to serve as a sustaining means of livelihood for his family. He however said that the amount being offered was insufficient.

“He sometimes complained that things were no longer as they were before he was disengaged from work. It was a surprise when we discovered that this unfortunate incident had happened.”