$2.4bn Subsidy Fraud Probe Triggered My Mother’s Kidnap

$2.4bn Subsidy Fraud Probe Triggered My Mother’s Kidnap — Okonjo-Iweala

WTO chief Ngozi Okonjo-Iweala says an investigation into alleged $2.4bn fuel subsidy fraud triggered threats and her mother’s abduction in 2012.

Damilare Adebayo · October 17, 2026 · 8

Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has recounted how an investigation into alleged $2.4 billion fuel subsidy fraud during her tenure as Nigeria’s finance minister preceded threats against her and the kidnapping of her mother.

Okonjo-Iweala disclosed this during an interview with Bloomberg’s Francine Lacqua on the Leaders programme, recalling the ordeal that followed efforts to investigate suspicious claims submitted by fuel importers under Nigeria’s petrol subsidy programme.

She said officials became concerned after noticing a sharp increase in claims for government payments to importers, prompting her to seek approval from then President Goodluck Jonathan to audit the accounts.

According to her, the investigation uncovered about $2.4 billion in fraudulent claims, leading the government to refuse payment.

“So I went to the president and said, look, something is going on here. Could we audit the accounts? And he said, yes, go ahead. And we found about $2.4 billion worth of fraud. So we refused to pay,” she said.

Okonjo-Iweala said threats followed the decision, before her mother, Kamene Okonjo, was abducted from her home in Ogwashi-Uku, Delta State, in December 2012.

She said the kidnappers demanded that she resign as finance minister and leave Nigeria in exchange for her mother’s release.

Describing the experience as one of the most painful periods of her life, she said her mother was held in a forest for five days before escaping.

The WTO chief said she feared for her mother’s life and initially considered leaving office to secure her release. However, she recalled that her father urged her not to surrender to the kidnappers’ demands.

Okonjo-Iweala said the experience left her with lingering feelings of guilt, although it also strengthened her resolve to confront corruption and protect public resources.

She served as finance minister under Jonathan before becoming WTO director-general in March 2021.