No Funds for Lagos-Kano Rail Project Received

Former Minister of Finance Dr Ngozi Okonjo- Iweala has said no funding was received from the China-Exim Bank for the Lagos- Kano rail project under her watch in the ministry talk less of diverting it.

Reacting to the allegation reportedly made by the Permanent Secretary, Ministry of Transport, Alhaji Mohammed Bashar, that a substantial part of a $1bn loan obtained from the China-Exim Bank by the Jonathan administration for a Kano-Lagos rail project was diverted to other projects, The ex- minister said the claim was baseless and wrong as the records are available for scrutiny with the China-Exim Bank or the Chinese Embassy.

The ex-minister said in a statement from her Media Adviser Paul C Nwabuikwu issued yesterday that the alleged diversion has no substance for the simple reason that the Kano-Lagos project was not even among the projects presented for funding by the China Exim Bank for several strategic infrastructural projects across the country.