The Senate in its plenary session yesterday, accused Nigeria Port Authority (NPA) and some other government agencies of mismanaging their operational surpluses.
Chairman of the Senate Ad-hoc Committee on alleged misuse, under-remittance and other fraudulent activities, which was mandated to investigate Federal Government revenue-generating ministries, departments and agencies (MDAs) has said the Nigeria Ports Authority (NPA) generates N170 billion and spends N150 billion yearly.
Senator Adeola disclosed this in response to Senate President's demand for the committee’s report at the plenary.
The Senate President, Bukola Saraki made the demand after the chamber passed a recommendation by the Senator Danjuma Goje-led joint committee on the mismanagement of operational surpluses by MDAs.
Said Saraki: “We had a committee led by Senator Adeola Olmilekan on the revenue. I don’t know what happened to the report of the committee we set up for Internally Generated Revenue (IGR). I have not got its report yet.”
Adeola, however, said an interim report would be presented to the Senate soon.
He said: “On the issue of agencies of government to explore the operating surplus for financing the budget, I want to bring to the notice of the Senate that just eight of these agencies constitute 80 percent of the operational surpluses.
“However, most of these agencies hide under frivolous expenditures to take out these operational surpluses and pay peanuts to the government. But where is your report,” Saraki asked.
Adeola responded that the reports presented by the agencies were inadequate, stressing that his panel had asked the MDAs to present their audited financial reports.
Adele replied: “You will not find the Central Bank of Nigeria (CBN) carrying out the functions of the Federal Government; like a government within a government. We asked them yesterday to furnish us with more documents, so we can have a full-fledged report on the CBN, Nigeria Maritime Agency and Nigerian Ports Authority.
“On the issue of NPA, we have an agency that is operating in isolation. This is one agency that has taken me aback. How can an agency generate over N170 billion in a year and come to you to say that over N140 billion has been expended the same year? Where is the money they are going to pay into government coffers?
“It is a whole lot of job, but I can assure you that an interim report will be forwarded to the Senate on these eight agencies.”
In his final remarks, Saraki stated: “This matter is now urgent and important, because, based on the recommendation we have agreed here, it is going to affect 2018 budget and 2017 budget implementation.
“Whatever it takes, you need to dedicate time and let us have a report, at least, on these three agencies within the next one week – two weeks maximum.
PIX: Senate President, Bukola Saraki