Ngozi Okonjo-Iweala, the public face of fiscal rectitude and good governance in Nigeria has been axed as chair of the Nigeria Economic Intelligence Team (Neit), while on a trip to the United Kingdom to get further debt relief.
Nigeria’s president Olusegun Obasanjo has appointed Minister of Finance Esther Nedadi Usman in her place — she took over when Okonjo-Iweala was redeployed to Foreign Affairs.
Okonjo-Iweala, a former World Bank executive, was moved to the Foreign Affairs portfolio in June. She is credited with negotiating Nigeria’s debt relief with the Paris club. Last year $18-billion of debt was written off Nigeria’s account.
No official reason was given as to why she was removed from the elite unit, which cracks down on endemic corruption in the public sector.
Angela Agoawike, editor of the National Interest, said this week that Okonjo-Iweala’s axing could strike the wrong chord. ”Many people may not like her movement from the unit because of her experience. She made many sensible decisions.”
However, she explained that her removal was only ”logical” and an attempt to synchronise the functions of the Finance Ministry and Neit. Agoawike argued that Okonjo-Iweala could not ably head the unit when she was not acting as minister of finance. Agoawike argued that her removal would not affect Nigeria’s standing in the eyes of the international community as there were no perceptible economic policy shifts. Agoawike would not speculate on what could have prompted the action. ”In Nigeria we are used to surprises,” she said.
Other analysts pointed to personal and policy differences between Okonjo-Iweala and Obasanjo.
The analyst said the president was simply ”making her position untenable so that she can resign”. He said there have been rumours of clashes over non-procedural cash withdrawals from the crude oil account by top government officials. Only when Okonjo-Iweala resigns or is fired will the country know why she was moved.