NPA’s Hadiza Usman: FG To Probe Fresh N3.6bn, $150m Non-remittance

Related stories

Prince Ademola Adeniji-Adele: The Forgotten Hero of June 12 

By Owei Lakemfa WITH the country moving to its new...

China Launches Phase 2 Deep-Sea Gas Field Adding

China National Offshore Oil Corporation (CNOOC) has fully launched...

Iran’s foray into fire, By Funke Egbemode

Whatsoever a man sows, he shall reap. Whatsoever a nation...

PDP’s BoT Flays Damagum, Says NEC Meeting Holds, Voids Anyanwu’s Reinstatement

By Kolawole Ojebisi The Board of Trustees (BoT) of the...

Suspended Managing Director/Chief Executive Officer (CEO) of the Nigerian Ports Authority, Hadiza Bala-Usman, is further being investigated over fresh allegations of unremitted Value Added Tax deductions to the Federal Inland Revenue Service (FIRS) to the tune of over N62 billion.

The New Diplomat had reported how the Minister of Transportation, Chibuike Rotimi Amaechi was said to have played a significant role in uncovering the alleged looting of N165 billion at the NPA under the watch of Bala-Usman as MD/CEO.

In addition to the allegations bordering on the N165bn unremitted funds, an insider source at the Ministry of Transportation who was quoted by the Punch further revealed that Bala-Usman also allegedly failed to remit VAT deductions running into billions of naira and in foreign currency denominations to the FIRS.

According to the source, the suspended NPA boss allegedly failed to remit $148,845,745.04 to the FIRS, which might be equivalent to N56,635,805,987.72, according to the official exchange rate of Sunday.

Also, the source alleged that Bala-Usman didn’t remit the sum of €4,891,449.50 to the FIRS, which might also be equivalent to N2,263,818,013.93 according to the Sunday’s official exchange rate.

Additionally, a sum of £252,682.14 was allegedly unremitted to the FIRS, which might be equivalent to N134,358,598.50 according to the official exchange rate.

Speaking further, the source also disclosed that NPA is also being investigated over allegation that it contravened the policies of government on the implementation of Corporate Social Responsibility (CSR).

According to the source, the NPA allegedly spent N4.2bn on CSR programmes in 2017 as against N29m in 2016 which accounted for an increase of 14,310 per cent.

The CSR programmes are charitable donations drawn from a company’s revenue in line with company’s policies. In Nigeria, CSR initiatives mostly involve sponsorship in sports, beautification of roads, giving donations and project implementations. Some of these projects include provision of borehole water, youth empowerment, schools and healthcare centres for the communities.

The NPA is a government-owned enterprise which is under the Federal Ministry of Transportation.

The New Diplomat earlier reported that Amaechi had written a memo addressed to President Muhammadu Buhari, seeking his approval to demand for the audit of the yearly remittance and account of the NPA between  2016-2020.

According to the Minister, the NPA has been far short of the amount due for actual remittance between 2016-2020, which accounted for an outstanding unremitted N165billion.

However, Bala-Usman in her defense, stated that the figures of the yearly remittance arrived at by the Minister were inflated.

According to her, the basis for arriving at the operating surplus of the NPA, upon which the Budget office of the Federation (BOF) and the Federal Ministry of Transportation calculated the amount due as remittances to the federation account, was flawed and not in line with the provisions of the Fiscal Responsibility Act of 2007.

Abiola Olawale
Abiola Olawale
'Dotun Akintomide's journalism works intersect business, environment, politics and developmental issues. Among a number of local and international publications, his work has appeared in the New York Times. He's a winner of the National Youth Service Corps (NYSC) Award. Currently, the Online Editor at The New Diplomat, Akintomide has produced reports that uniquely spoke to Nigeria's experience on Climate Change issues. When Akintomide is not writing, volunteering or working on a media project, you can find him seeing beautiful sites like the sandy beaches that bedecked the Lagos coastline.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

[tds_leads input_placeholder="Your email address" btn_horiz_align="content-horiz-center" pp_msg="SSd2ZSUyMHJlYWQlMjBhbmQlMjBhY2NlcHQlMjB0aGUlMjAlM0NhJTIwaHJlZiUzRCUyMiUyMyUyMiUzRVByaXZhY3klMjBQb2xpY3klM0MlMkZhJTNFLg==" pp_checkbox="yes" tdc_css="eyJhbGwiOnsibWFyZ2luLXRvcCI6IjMwIiwibWFyZ2luLWJvdHRvbSI6IjQwIiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tdG9wIjoiMTUiLCJtYXJnaW4tYm90dG9tIjoiMjUiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsImxhbmRzY2FwZSI6eyJtYXJnaW4tdG9wIjoiMjAiLCJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sImxhbmRzY2FwZV9tYXhfd2lkdGgiOjExNDAsImxhbmRzY2FwZV9taW5fd2lkdGgiOjEwMTksInBob25lIjp7Im1hcmdpbi10b3AiOiIyMCIsImRpc3BsYXkiOiIifSwicGhvbmVfbWF4X3dpZHRoIjo3Njd9" display="column" gap="eyJhbGwiOiIyMCIsInBvcnRyYWl0IjoiMTAiLCJsYW5kc2NhcGUiOiIxNSJ9" f_msg_font_family="downtown-sans-serif-font_global" f_input_font_family="downtown-sans-serif-font_global" f_btn_font_family="downtown-sans-serif-font_global" f_pp_font_family="downtown-serif-font_global" f_pp_font_size="eyJhbGwiOiIxNSIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_weight="700" f_btn_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_transform="uppercase" btn_text="Unlock All" btn_bg="#000000" btn_padd="eyJhbGwiOiIxOCIsImxhbmRzY2FwZSI6IjE0IiwicG9ydHJhaXQiOiIxNCJ9" input_padd="eyJhbGwiOiIxNSIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMCJ9" pp_check_color_a="#000000" f_pp_font_weight="600" pp_check_square="#000000" msg_composer="" pp_check_color="rgba(0,0,0,0.56)" msg_succ_radius="0" msg_err_radius="0" input_border="1" f_unsub_font_family="downtown-sans-serif-font_global" f_msg_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_weight="500" f_msg_font_weight="500" f_unsub_font_weight="500"]

Latest stories

NDN
Latest News
Fubara vs. Wike: Shehu Sani Expresses Doubt About Resolution, Says Fubara's Loyalists Won't Be HappyPrince Ademola Adeniji-Adele: The Forgotten Hero of June 12 China Launches Phase 2 Deep-Sea Gas Field AddingIran’s foray into fire, By Funke EgbemodePDP's BoT Flays Damagum, Says NEC Meeting Holds, Voids Anyanwu's ReinstatementFG To Nigerians: New Tax Laws Won't Come into Effect Until 2026Tinubu Inks Four Tax Bills Into LawBreaking Down Iran’s Oil Exports by CountryLagos: Sanwo-Olu Refutes Report, Probes Demolition of Peter Obi’s Brother’s PropertyAnyanwu: How Damagum's 'Unilateral' Decision Worsens PDP Crisis -- Kola Ologbodiyan2027: Barau Signals Readiness to Join Tinubu’s Ticket If Called UponDamagum Vs NWC : PDP Meets Monday To Resolve 'Self-Inflicted' Crisis, Says Bode GeorgeOluwatimileyin Ajayi Sentenced to Death for Murder of NYSC Member Salome AdaiduOma Djebah Mourns ex-Governor Cornelius Adebayo, Urges Govt to Immortalize himWhat Caused Air India Crash that Killed 270 People--- Report Reveals
X whatsapp