Alleged N178bn Bad Debt: Reps Dismiss Petition Against NPA MD, Bello Koko
LAGOS MARCH 4TH (NEWSRANGERS)-The House of Representatives has dismissed a petition against the Managing Director of the Nigeria Ports Authority (NPA), Muhammed Bello-Koko.
Recall that a Non-Governmental Organisations in Nigeria, had petitioned the House Committee on Public Petitions alleging that the MD recorded a bad debt of N178 billion in the audited financial statement of the authority in 2019.
However, at the resumed public hearing of the committee, on Wednesday, the group failed to appear to defend the allegation.
The Chairman of the Committee, Hon. Mike Etaba (APC -Cross River) dismissed the petition for lack of merit.
“This is the sixth time and the petitioner has not been in this place. The case is hereby dismissed,” Etaba said.
The petitioner had requested the management of NPA to be invited to address the growth of the alleged debt from N135 billion in 2018 to N173 billion in 2024.
The petition in part reads that, ” Our attention has been brought to the 2019 audited financial statement of Nigeria Port Authority ( NPA) with special reference to Trade Accounts Receivable and the huge provision made for bad and doubt debts. Whilst we note that the position in 2019 would significantly changed by now, the poor quality of NPA’s trade receivable account is alarming and require urgent attention.”
Vanguard
CONMEP MEMBER
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Posted by News Rangers
on Mar 3 2024. Filed under Business, National.
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