NPA’s N165bn Remittance: Hadiza Usman Breaks Silence, Tackles Amaechi

Related stories

Akwa-Ibom Commissioner Defies Gov Umo Eno, Resigns, Says I Can’t Join Gov In APC

By Kolawole Ojebisi The commissioner for special duties and Ibom...

Trump Vs Musk: JD Vance Declares Support For US President Amid Online Row

By Kolawole Ojebisi US Vice President J.D. Vance has weighed...

Exclusive: Inside Details Of Sanwo-Olu’s Alleged Strained Ties With Tinubu

How Lagos Gov's Attendance of Achimugu’s 50th Birthday...

Revealed! The most beautiful city in Africa

Europe is home to several famous mega-cities, from London...

Elon Musk’s Fortune Plummets By $34 Billion As Feud with Trump Escalates

By Abiola Olawale Tech billionaire and founder of Tesla, Elon...

The suspended Managing Director and Chief Executive Officer of the Nigerian Ports Authority (NPA), Hadiza Bala Usman has reacted to allegations of looting the NPA’s yearly remittance operating surplus to the tune of N165billion.

According to Usman, the figures of the yearly remittance arrived at by the Minister of Transportation, Chibuike Rotimi Amaechi were inflated.

Amaechi was said to have played a significant role in uncovering the alleged looting of N165 billion at the NPA under the watch of Usman as MD/CEO.

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

Amaechi had written a memo addressed to 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.

Responding to the allegations, Usman in a memo addressed to the Chief of Staff, dated May 5, 2021, a day before she was suspended, argued that 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.

According to her, the figures provided by the budget office as the NPA’s operating surplus for 2017 and 2018 were inflated.

She stated that the audited financial statements of the NPA for the 2017 and 2018 provide operating surpluses of N76.782 billion and N71.480 billion contrary to the N133bn and N88.79 billion respectively cited by the Minister.

The memo partly reads, “Audited Financial Statements of the Authority for the period 2017 and 2018 provides operating surpluses of N76.782 billion and N71.480 billion for 2017 and 2018 respectively, as contrary to the sums of N133.084 billion and N88.79 billion arrived at by tour office from the budgetary submission,” she wrote.

“In line with the template issued by the Fiscal Responsibility Commission, the accessible Operating Surplus of the Authority stands at N51.09 billion and N42.51 billion for 2017 and 2018 respectively. This amounts will give rise to a remittance due to the CFR in the sum of N40.873 billion and N34.065 billion representing 80% of the surpluses for the year 2017 and 2018 respectively. (Attached herewith as annex 3 is the schedule of the computed template for the respective years). Accordingly, the Authority consequently made a remittance of N42.415 billion and N33.969 billion for the years 2017 and 2018 respectively for the full amount required as remittance for the period.”

By Abiola Olawale (the New Diplomat's Southwest Bureau)
By Abiola Olawale (the New Diplomat's Southwest Bureau)
'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
Akwa-Ibom Commissioner Defies Gov Umo Eno, Resigns, Says I Can't Join Gov In APCTrump Vs Musk: JD Vance Declares Support For US President Amid Online RowExclusive: Inside Details Of Sanwo-Olu’s Alleged Strained Ties With TinubuRevealed! The most beautiful city in AfricaElon Musk’s Fortune Plummets By $34 Billion As Feud with Trump EscalatesGov. Umo Eno: Why I Dumped PDP For APC[Video] Akwa Ibom: Gov Umo Eno Officially Defects to APC in Major Political ShiftOtedola Hails Dangote's Refinery As "Eighth Wonder Of The Modern Era"Tears as Mohammed Uwais, ex- Chief Justice of Nigeria, Dies at 89Trump Slams Musk in Explosive Fallout Over Policy ClashNo Untouchables, I'll 'Touch' Abuja Wealthy And Heavens Won't Fall -- Wike BoastsTears As Nigeria's Ex-Ambassador To US, Jubril Aminu, Dies At 85"Why Wike's Politics Should Be Studied At Universities," Says Ooni of IfeUsing FOI Act As Blackmail tool Not Activism But Sabotage -- NEITI WarnsOil Prices Rise Despite OPEC+ Output Hike Plans
X whatsapp