Headlines

NPA keeps mum over missing concession fund

Bello-Koko, Ag. NPA MD

—-as PBE indicts agency

Eyewitness reporter

The Nigerian Ports Authority (NPA) has kept sealed lips over the damning allegation surrounding the missing $678.4m(32billion) accrued concession funds.

The Auditor General of the Federation (AuGF), Adolphus Aghughu, in the 2016 audited report of the 2006 concession programme of the Federal government, had accused the Bureau of Public Enterprises (BPE) of not remitting the amount to the federation account.

In a swift reaction to the allegation, the BPE absolved itself of the missing money, asking the AuGF and the Senate, which is probing the scandal, to hold the NPA accountable for the missing fund.

In its written response to the Senate panel, the BPE explained that the concession transactions were done in 2005 and the concession agreement executed clearly showed that the BPE was only a confirming party while the primary party to the concessions was the Nigerian Port Authority (NPA).

The agency also insisted that the responsibility for such collection was that of NPA and not that of BPE

“Having midwifed the concession transactions, the BPE collected some of the remittances to the NPA.

“The NPA has since acknowledged the transfer made regarding the rentals received on its behalf by the Bureau.

“Revenue accruing on the ports concession have, beyond 2008, been paid directly to ‘landlord’ (NPA) and not the BPE as the OAuGF report appears to allege.

“We are, therefore, unaware of the $679.4 million.”

Stakeholders are however asking the NPA authority to clear the air on the controversial missing money, adding that the silence of the agency is uncharitable, given the allegation of the PBE.

Meanwhile, the Senate Public Accounts Committee (SPAC) has begun an investigation to unravel the alleged missing concession funds.

According to the AuGF query, 23 companies were granted concessional rent at various ports under the NPA for 10 years and above at an associated yearly rent of $679.4 million payable to NPA as at December 31.

The AuGF alleged that there was no evidence to show that $679 million was collected as at when due and remitted to Consolidated Revenue Fund.

The AuGF query reads: “Twenty-three companies were granted concessional rent of various ports under Nigerian Ports Authority (NPA) for 10 years and above with associated yearly rent of $679,403,172.00 payable to NPA as at December 31, 2016.

“There is no evidence to show that $679,403,172.00 was collected as at when due and remitted to the Consolidated Revenue Fund.

“This has been communicated to the Bureau vide letter with reference number OAuGF/RESAD/05/2016/07, dated April 19, 2018. No response has been received from the Bureau.

“Unremitted funds may be misapplied by the Bureau. Also, it may lead to the diversion of funds to other uses.

“The Director-General is required to show evidence that $679,403,172.00 was collected and remitted to the appropriate authority.”

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Group confers “continental” award on Adeniyi over customs’ phenomenal revenue record

Adeniyi, CGC

Funso OLOJO

The Comptroller General of the Nigeria Customs Service, C.G.C Adewale Bashir Adeniyi, has been nominated and approved to be honoured with “The Continent Man of The Year 2024” Award by Board of Editors and Publishers of Continent magazine.

This resolution was announced by the spokesman of the group, Mr David Oladimeji, at the end of group’s meeting held on Friday, September 13th, 2024 in Abuja.

The meeting was organized by” The Continent “Magazine to deliberate on a personality and organisation deserving of the Award.

The Board’s attention was drawn to the statement made recently by former governor of the Central Bank of Nigeria (C.B.N) and sitting Governor of Anambra state, Prof Chukwuma Soludo,who told his constituents in Awka that the Customs and F.I.R.S have sustained the nation’s economy from collapse since February this year, when the NNPCL stopped remittance of statutory revenue to the Federation Account for onward disbursements to the three tiers of governments.

Oladimeji said “the Board noted that this is not an easy task to be achieved under the astute and dedicated leadership of C.G.C Adeniyi, considering the fact that the Customs and it’s officers have been perceived by the public as corrupt and fraudulent”

” In a bid to commend and encourage leaders of the customs and F.I.R.S as well as their lieutenants not to rest on their oars, the Board resolved to honour the C.G.C, his Command Controllers and Revenue Collectors who had made significant sacrifices and excelled in their national anti-smuggling, revenue collection assignments with “The Continent Man of The Year” and “Pillars of Nigerian Economy 2024″ Awards”

As plans are geared towards the celebration of the international and national icons at a date to be announced soon, “The Continent” special edition will publish the profile and achievements of the deserving recipients that earned them recognition and honour.

Headlines

NIMASA secures support of Bank of Industry for enhanced capacity building in maritime industry

Funso OLOJO

The Nigerian Maritime Administration and Safety Agency (NIMASA) has broker a partnership with the Bank of Industry (BOI) to enhance its capacity building effort in the maritime industry.

The Director General of NIMASA, Dr. Dayo Mobereola, represented by the Executive Director of Maritime Labour and Cabotage Services, Mr. Jibril Abba, made this disclosure during a visit by the Management of the Bank of Industry, led by Executive Director of Large Enterprises, Mrs. Ifeoma Uz’Okpala.

He stated, “In addition to safety, security, and maritime labor, the Agency’s mandate encompasses capacity development aimed at growing the sector.”

He also reaffirmed the Agency’s commitment to collaboration as a vital tool for achieving its mandate.

“The aim is to actualize the vision of the Federal Government to reposition the maritime sector, especially with the creation of the Ministry of Marine and Blue Economy”, he said.

On her part, the Executive Director of Large Enterprises at BOI, Mrs. Uz’Okpala, affirmed the Bank’s readiness to support NIMASA.

She also emphasized the importance of collaboration in implementing a robust capacity-building initiative that will contribute to economic growth in Nigeria.

Bank of Industry Limited is Nigeria’s oldest and largest Development Finance Institution (DFI) currently in operation.

It is owned by the Ministry of Finance Incorporated (MOFI) Nigeria (94.80%), the Central Bank of Nigeria (CBN) (5.19%) and private shareholders (0.01%)

Headlines

NIMASA secures support of Bank of Industry for enhanced capacity building in maritime industry

Funso OLOJO

The Nigerian Maritime Administration and Safety Agency (NIMASA) has broker a partnership with the Bank of Industry (BOI) to enhance its capacity building effort in the maritime industry.

He stated, “In addition to safety, security, and maritime labor, the Agency’s mandate encompasses capacity development aimed at growing the sector.”

He also reaffirmed the Agency’s commitment to collaboration as a vital tool for achieving its mandate.

“The aim is to actualize the vision of the Federal Government to reposition the maritime sector, especially with the creation of the Ministry of Marine and Blue Economy”, he said.

On her part, the Executive Director of Large Enterprises at BOI, Mrs. Uz’Okpala, affirmed the Bank’s readiness to support NIMASA.

She also emphasized the importance of collaboration in implementing a robust capacity-building initiative that will contribute to economic growth in Nigeria.

Bank of Industry Limited is Nigeria’s oldest and largest Development Finance Institution (DFI) currently in operation.

It is owned by the Ministry of Finance Incorporated (MOFI) Nigeria (94.80%), the Central Bank of Nigeria (CBN) (5.19%) and private shareholders (0.01%).