NPA On Reps’ Radar Over $852m Unremitted Revenue
The Public Account Committee of the House of Representatives Committee is looking into the books of the Nigeria Ports Authority and the terminal operators over unremitted revenues of $852.1 million and another N1.897 billion.
The probe was initiated following the 12 audit queries from the office of the Auditor-General for the Federation (AuGF) on the financial statement of the NPA for the 2019 financial year.
The Committee Chairman, Wole Oke asked the management of NPA to explain why such a huge amount of money owed to the federal government has not been recovered and paid into the federal treasury.
However, the authority said N269.410 million of the N1.8 billion has been recovered, while the balance of N1.6 billion invoices processed on the encumbered areas remains unpaid.
Also, it noted that “The sum of $504.6 million is volume change on fix lease fee payment by APMT arising from clauses in the concession agreement between NPA and APMT out of the total sum of $852.1million.
“Bills raised on encumbered areas which remained unpaid is $19,169,459.00. The following has been paid-GMT-$54,707,700.08, unpaid penalties- $11,922,642.68 and unpaid VAT-$28,693,707.07. $92,533,518.72 has been recovered leaving unpaid lease and Throughout fee of $139.9 million (made up of $113.9 million and $5.9 million) respectively.”
Notwithstanding, the lawmakers directed the NPA management to reconcile their position with that of the Auditor General for the Federation and provide evidence of remitting the recovered N269.51 million and $92.534 million to the treasury.
In the probe, the NPA has been mandated to furnish the House with a contract agreement/service level agreement, the list of all terminal operators, as well as a comprehensive schedule of lease fees that make up the total amount being owed the government by the operators.
The committee is to invite the defaulting terminal operators to explain the refusal to pay the fixed lease fee, while the NPA is also to provide details of community-related issues that hindered concessionaires from accessing the encumbered areas.
APMT, reportedly owing $504 million, is also to appear before the committee, while the NPA is expected to disclose efforts being made to recover the money and list of consultants engaged to assist in the debt recovery.
On the outstanding estate rent, shipping due and service boat of N32.2 billion, and $67.4 million, the NPA is to provide a comprehensive schedule of legacy debtors of N7.3 billion.
The committee also directed the NPA to avail it with comprehensive details of debtors owing N17,687,440,469.16 being shipping and service boat due.
The recovered amount and the outstanding debt must be stated against the name of each debtor.
The committee further demanded the current status of the under listed legacy debts, and evidence of remittances of part of the debts to the government’s coffers if any is required.
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