Senate Demands Answers: NPA Given 48 Hours to Account for Missing $1.8 Billion

• The Senate Committee on Public Accounts issues a 48-hour ultimatum to the Nigeria Ports Authority to explain the whereabouts of $1.8 billion
• Senator Ahmed Aliyu Wadada warns of legal measures if the NPA fails to comply, emphasizing transparency and accountability in financial management.

The Senate Committee on Public Accounts has issued a strict 48-hour ultimatum to the Nigeria Ports Authority (NPA) management, demanding an explanation for the whereabouts of a staggering $1.8 billion.

Senator Ahmed Aliyu Wadada, the committee’s Chairman, sternly warned that all legal measures would be employed to ensure compliance and hold the NPA management accountable if the request is disregarded.

Addressing journalists at the National Assembly, Senator Wadada expressed dissatisfaction with the NPA’s failure to clarify the disposition of the substantial fund. He criticized the Managing Director for allegedly refusing to appear before the panel, noting the absence of the MD’s representative during the scheduled interface.

“No one is above the law, and the National Assembly will not tolerate disrespect. We are the people’s parliament, mandated to serve the interests of the people,” Senator Wadada asserted.

The committee demanded detailed information from the NPA on $68 million, encompassing “outstanding estate rents, shipping bills, service boats, among others.” The unresolved issues include the status of long-standing debts and debtors involving entities such as Lagos Channel Management, Bonny Channel Management, and Calabar Channel Management.

Simultaneously, Senator Wadada disclosed that the committee is investigating the Nigerian Customs Service for the under-remittance of N62 billion in the agency’s 2017 revenue, as highlighted in the Auditor General’s Report under consideration.

The query raised concerns about the discrepancy between the total collection for the federation account, recorded at N691 billion, and the actual remittance into the Central Bank of Nigeria (CBN), amounting to N629 billion. Senator Wadada attributed these anomalies to internal control system weaknesses at Abuja’s Nigeria Customs Service Headquarters.

The committee urged the Customs Service to present its defence within two weeks, emphasizing the need for transparency and accountability in public financial management.