Senate Committee Issues Ultimatum to NPA Over Unaccounted $1.8bn Funds

The Senate Committee on Public Accounts has issued a directive to the Nigeria Ports Authority (NPA) requiring them to provide a detailed account of the whereabouts of over $1.8 billion, which is currently unaccounted for. During a press conference held at the National Assembly, Senator Ahmed Aliyu Wadada, the committee’s chairman, expressed dismay at the NPA’s failure to furnish satisfactory explanations concerning the missing funds, which amount to $852,930,730 and $1,878,509,057. The committee also voiced disapproval of the Managing Director’s nonappearance before the panel or the sending of a representative.

Senator Wadada underlined the fact that the National Assembly operates on behalf of the citizens and will not tolerate any form of disrespect or disregard for its authority. He stressed that the NPA must be held responsible and provide detailed information regarding outstanding debts, debtors, and financial transactions linked to estate rents, shipping bills, and service boats.

The committee’s ultimatum and threat to employ legal mechanisms to compel the NPA’s management to adhere to its demands underscore the gravity of the situation and highlight the obligation of public institutions to operate with transparency and be answerable to government oversight bodies.

In the same session, the committee also engaged with the National Commission for Colleges of Education, Nigeria Mining Cadastre Office, and the Nigeria Customs Service. These engagements signify a wider endeavour by the Senate to ensure accountability and proper utilisation of public funds across various government agencies. This dedication to oversight and transparency is crucial for upholding public trust and promoting the principles of good governance.

It is imperative for public institutions, including the NPA, to honour the authority of the legislative branch and fully cooperate with inquiries related to financial management and accountability. Failing to do so not only undermines the credibility of the organisation but also diminishes public confidence in the government’s ability to oversee public resources effectively.

While the Senate Committee on Public Accounts continues its scrutiny of the NPA and other entities, it is essential for all parties involved to adhere to the principles of transparency and accountability. By fulfilling their obligations to provide accurate and comprehensive financial information, government agencies can demonstrate their commitment to responsible governance and contribute to a more effective and trustworthy public administration.