NPA denies operating secret foreign bank accounts

The Nigerian Ports Authority (NPA) has denied the allegation that it operates secret foreign accounts that have been looted, describing the report as untrue, malicious and sponsored.

Responding to an online media report, the NPA General Manager in charge of Corporate and Strategic Communication, Ibrahim Nasiru, said the false report was sponsored as the organisation operates in compliance with Federal Government’s directive on Treasury Single Account (TSA).

Nasiru said the agency’s two USD-denominated domiciliary accounts were approved by the Federal Government and are transparently run in accordance with agreed safeguards emplaced by the Office of the Accountant General through the Central Bank of Nigeria (CBN).

In making further clarification, Nasiru in a press statement, said the opening of two accounts for collection of service boats pilotage revenue was made to the Accountant General of the Federation in a letter dated August 26, 2016 and approval was obtained to that effect.

Nasiru, who narrated NPA’s relationship with Integrated Logistics Services Limited (INTELS), a company that was involved in service boat operations with it, said there was a management agency relationship between INTELS and the NPA, which gave INTELS the responsibility to monitor service boats operations and collect revenue from such operations on its behalf.

The NPA spokesman said that on a monthly basis, there were hundreds of payments for service boat operations that were made directly into INTELS bank accounts, which ran contrary to the government policy on TSA.

He added that on a periodic basis, INTELS remitted a portion of the revenue collected to the NPA and retained a significant portion in its vault, comprising commission on collection of revenue and cost of Onne phase 4B expansion project through amortisation.