Buhari ‘spent’ $100m women empowerment loan from World Bank on meetings – minister

The Minister of Women Affairs, Uju Kennedy-Ohaneye, has accused the administration of former President Muhammadu Buhari of wastefully spending the initial $100 million out of a $500 million World Bank loan meant for women empowerment.

Ohanenye said the Buhari government had spent $100 million on meetings, advocacy and consultations.

The minister gave this information in an interview to Arise News on Monday.

DAILY POST recalls that the World Bank has approved a fresh loan of $500 million for Nigeria, due on June 27, 2023, to help improve the livelihood of women in Nigeria.

Ohenanyeye commended President Bola Tinubu for his active involvement in the project, especially for the thorough scrutiny of the expenditure of the initial $100 million.

He clarified that the money is a loan, not a grant, and stressed the importance of proper management to ensure repayment.

“Regarding the Nigeria for Women project, I want to first ask Nigerian women to clap for President Bola Ahmed Tinubu, who came after the first $100 million had been spent. That was when he came and when he came, he looked at it with me and we were not satisfied with how the $100 million was used.

“Let me make this clear. This is not a grant, it is a loan and when some amount of money is a loan, it has to be managed well so that the loan can be repaid. If you don’t manage it well, how will we repay the loan?

“And when the money is a loan, we expect that the person you are lending the money to will be allowed to use that loan properly, to pay back the money that is owed, so that Nigeria will not be left owing the loan.

“When I came in, I was not satisfied with the first 100 million. It did not bode well with the vision of the new President’s New Hope agenda.

“It was used mainly for advocacy, meetings, consultations and the like. They shared it between states.”



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