Posted by punchng on
A London-based financial expert has described the removal of the Minister of Foreign Affairs, Dr. Ngozi Okonjo-Iweala, as head of Nigeria’s Economic Team as unwarranted......
A London-based financial expert has described the removal of the Minister of Foreign Affairs, Dr. Ngozi Okonjo-Iweala, as head of Nigeria’s Economic Team as unwarranted.
“It’s pretty savage,” an independent London-based risk analyst, Mr. Antony Goldman, was quoted to have said by a Bloomberg News report.
According to him, it’s hard to find “a sound reason for it.”
Okonjo-Iweala, the former finance minister oversaw Nigeria’s debt relief as head of the nation’s Economic Management Team.
President Olusegun Obasanjo replaced Okonjo-Iweala by the Finance Minister, Nenadi Usman. Usman was named finance minister on June 21 after Obasanjo appointed Okonjo-Iweala foreign minister and retained her as head of the economic team. No reason was given for her removal.
Okonjo-Iweala, a former World Bank vice-president lauded for her role in turning around the Nigerian economy, was named Finance Minister of the year for 2005 by Euromoney and received the same award in 2004 by The Banker magazine.
She spearheaded the effort to cancel $18 billion worth of debt owed to the Paris Club group of creditors, helped Nigeria get its first-ever sovereign debt rating earlier this year and began publishing the nation’s oil revenue to help reduce corruption. She assumed the position in July 2003.
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