Document Expose How “Port Cabal” Defraud Nigeria Over N30 Trillion

LAGOS JULY 21ST (NEWSRANGERS)-The Senate Thursday said that it is in possession of documents which exposed how “port cabal” sleaze Nigeria of over N30 trillion recently.
Chairman Senate Joint Committee on Customs and Marine Transport investigative panel, Senator Hope Uzodinma, disclosed this Thursday.
Uzodinma said that preliminary findings by his committee into activities of Customs, financial leakages and malpractices in the country’s port and revenue system have shown evidence of how “a group of unpatriotic persons brazenly constitute themselves into cabal to inflict infractions at the nation’s sea ports.”
He lamented that the infractions have become a daily occurrence at the country’s sea ports.
He accused commercial banks, shipping companies, terminal owners and operators of conniving with officials of Customs and Nigeria Port Authority (NPA) to defraud the country in trillions of Naira.
He said that the infractions come in various forms beginning with abuse and violation of foreign exchange issued by Central Bank of Nigeria, incorrect classification and under valuation of vessels coming into the country.
Last week the Senate investigative panel asked the Managing Director of Nigeria Port Authority, Hadiza Bala Usman to account for 282 missing vessels.
The panel wants NPA and Customs to explain why it did not collect any charges on the vessels and who authorized the release of the vessels from the ports.
Uzodinnma said all those involved in the transaction have four days to come clean or face prosecution.
He said, “Senate, determined to end the villainous assault on the economy of the nation and has taken the bull by the horn and set to get to the bottom of this organized crime and come up with future proof and ways of eradicating this gruesome menace.”
Uzodinma said in carrying out its investigation, the panel shall be minded by the reality that those who want to bleed the nation to death without remorse must be dealt with without reprieve.
He said those indicted in this crime will be made to face the full wrath of the law.
The CBN has up to next Monday to verify claims of remittances by commercial banks.
The panel is however disappointed at how Customs has over the years managed the Free Trade Zone, accusing it of allowing the free trade zone to be used for smuggling goods into the country.
Declaring the probe open, Senate President Bukola Saraki who was represented by senate Minority Leader, Emmanuel Bwacha asked the panel to do a thorough job.
He said Senate intends to use this oversight function to expose corruption and ensure that all the loopholes and leakages in the revenue systems are fully and comprehensively sealed.
He said the Senate under his watch would not sit by and allow a sleaze of this magnitude to continue.

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Posted by on Jul 21 2017. Filed under State. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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