Okonjo-Iweala: How I Tackled Corruption, Saved Billions of Dollars

Ngozi Okonjo-Iweala

Ejiofor Alike with agency reports

A former Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has said that while serving under the administrations of former President Olusegun Obasanjo and President Goodluck Jonathan, she worked hard to open up information and tackle corruption, saving billions of dollars that were channelled to other priorities.

She advised governments across the world to be more transparent and accountable amid the COVID-19 pandemic.
She noted that many countries are battling corruption in the procurement of medical supplies, including personal protective equipment, adding that governments should “publish all tenders and all contracts” and “companies receiving funds should not be anonymous.”

Okonjo-Iweala, a former World Bank managing director, who is Nigeria’s nominee for the post of World Trade Organisation (WTO) director general, spoke on her stewardship in Nigeria and on how to fight graft in a write-up entitled, ‘To Beat COVID-19, Governments Need to Open Up,’ published on Bloomberg.

Okonjo-Iweala presently serves on the board of Bloomberg Task Force on Fiscal Policy for Health.
She said during her two tenures as Nigeria’s finance minister from 2003 to 2006 as well as between 2011 and 2015, she introduced reforms that helped to curb corruption.

She said: “Getting medical equipment, and eventually vaccines, to those that need them most poses a major governance challenge. Already, many countries are battling price gouging, collapsing supply chains and even corruption in the procurement of supplies, including personal protective equipment. Out of desperation, governments have contracted with suppliers who have no track record of delivering the equipment they need. Too often, those suppliers have failed.

“The only way to make emergency procurement fast and efficient is to do it in the open by publishing all tenders and all contracts.
“This openness should extend to the emergency budgets that have been established to fund healthcare systems and economic stimulus packages. Even in normal times, finance ministries need to publish their budgets in a way that encourages accountability and citizen engagement. Right now, it is even more important to reassure taxpayers that funds are being spent on the right priorities.

“Opening up procurement and budgets can only have the desired effect if citizens and civil society are empowered to follow the money.
“During my tenure as Nigeria’s finance minister, we worked hard in a difficult governance environment to open up information and tackle corruption. Though it was not easy, we saved billions of dollars that were channelled to other priorities.

“At a time when many governments are rapidly mobilising financial resources from their own budgets, international markets and donors, it is vital that funds are not wasted. Working in an open way will build trust with citizens and lenders, and it will ensure the money reaches the neediest.

“When this pandemic is brought to an end, one legacy should be an expectation for more open government that makes better decisions, uses resources more wisely and puts citizens first.”