The former Minister of Finance, Dr Ngozi Okonjo-Iweala, has described as false, the allegation that she diverted a substantial part
of a one billion dollar loan from the China-Exim Bank. The refuttal is contained in a statement in Abuja yesterday by Mr Paul Nwabuikwu, Special Adviser to Okonjo-Iweala.
According to him, Kano-Lagos rail project was not funded by the bank, adding that China-EximBank keeps and disburses funds for approved projects to contractors based on milestones and funds are not domiciled with Finance Ministry.
It could be recalled that the Permanent Secretary, Ministry of Transport, Alhaji Mohammed Bashar, has said that a substantial part of a $1billion loan obtained from the China-EximBank by the Jonathan administration for a Kano- Lagos rail project was diverted to other projects. He spoke when he visited President Muhammadu Buhari at the State House, Abuja recently.
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