In a startling revelation, Minister of Women Affairs, Uju Kennedy-Ohanenye, has accused the Muhammadu Buhari administration of mismanaging a substantial portion of a $100 million World Bank loan meant for advancing women’s empowerment in Nigeria. Kennedy-Ohanenye aired these serious allegations during a recent appearance on Arise Television’s Morning Show, where she expressed deep concerns regarding the handling of funds allocated for the ‘Nigeria For Women Project’.
The project, a collaborative initiative between the World Bank and the Nigerian Government, was established to bolster the socio-economic status of Nigerian women. However, it has now come under scrutiny following allegations of financial mismanagement. According to a statement from the World Bank, the loan was originally sanctioned on June 27, 2018, with the primary objective of increasing financial support for women’s initiatives across the country.
During her televised interview, Kennedy-Ohanenye highlighted apparent discrepancies in the expenditure of the disbursed $100 million by the Buhari administration. She suggested that the utilization of these funds did not align with the developmental goals outlined in the ‘Renewed Hope Agenda’ of the Tinubu administration, adding weight to her claims.
Kennedy-Ohanenye’s accusations have fueled ongoing debates surrounding financial transparency and accountability within government-led projects aimed at empowering marginalized groups in Nigeria. The controversy underscores broader concerns about the effective management of international loans earmarked for crucial socio-economic development projects. The allegations put forth by the Minister of Women Affairs are expected to trigger a thorough investigation into the handling of the World Bank loan, with calls for accountability likely to intensify in the coming weeks. As the situation unfolds, stakeholders and the public alike await further developments regarding the utilization and oversight of funds intended to uplift and empower Nigerian women.
This development serves as a stark reminder of the critical need for stringent oversight and transparency in the management of international loans and aid, particularly those aimed at fostering sustainable development and gender equality in developing nations like Nigeria.Tinubu’s Minister Reveals How Buhari Wasted $100 Million World Bank Loan: Details Inside
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