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Auditor General Queries NPA’s N44bn Unremitted Tax, N88bn Admin Spending

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The Office of the Auditor General of the Federation has issued more queries on the finances of the Nigerian Ports Authority, alleging various irregularities in the accounts of the agency for 2018.

The alleged infractions run into hundreds of billions, including the failure by the NPA to remit about N44.21bn in taxes to the Federal Inland Revenue Services and spending N88.23bn as administrative expenses during the year.

The Auditor General of the Federation, Adolphus Aghughu, issued various queries on the NPA’s consolidated and separate financial statements for 2018 in an audit report forwarded to the National Assembly which was dated May 24.

The House of Representatives Committee on Public Accounts has invited the Minister of Transportation, Rotimi Amaechi, and the management of NPA to appear before it on July 8 over the queries by the OAUGF based on the audit carried out by Messrs Muhtari Dangana & Co and SIAO (Chartered Accountants).

TheAuditor-General said the management of the NPA spent N409.17bn on property, plant, and equipment in 2018 without sufficient and appropriate audit evidence to confirm the completeness, existence, and valuation of the assets.

Out of the money, the NPA was said to have made ‘provision for depreciation charged in the accounts that would appear to be understated by N12.49bn’.

The report read, “It was observed during vetting that the provisions made against four classes of property, plant and equipment, namely roads and sidings, wharves, vessels, and buoys, did not correspond to the rates of depreciation reported in the financial statements.

“The depreciation rates that were charged on the assets were smaller than the rates arrived at during vetting.

“The understatement of depreciation by N12,486,991,000 resulted in the apparent overstatement of the Net Book value of the fixed assets and understatement of the surplus for the year by the same amount. An explanation would be appreciated.”

Furthermore, the Auditor-General said wharves were disposed of by the management of the NPA at the cost of N254.83bn without evidence of remittance to the Consolidated Revenue Fund, while demanding that the number of wharves disposed of, the cost and evidence of remittance be provided.

Also, the auditor-general said the authority reduced N126.63bn in the period under review to arrive at the trade receivable of N43.51bn.

Aghughu said, “This showed very weak debt recovery efforts on the part of the management of Nigerian Ports Authority.

“The minutes of the meeting where the group decided that these debts should be impaired should be provided. Detailed explanations should be given for the inability of the authority to recover its huge outstanding receivables. The detailed schedule of all the parties involved should be furnished.”

The NPA is also to explain how the N1.88bn meant for Staff Home Ownership Scheme was administered because the authority severed the relationship with Aso Savings and Loans Plc, the company that served as an agent for the creation of mortgages and the subsequent collections of repayments on the same mortgages.

The management, which had made an advance payment of N4.65bn, was asked to provide a schedule showing the names of the individual contractor, nature of the contract, contract sum, the amount of advance granted, age analysis of each of the advance and the unconditional performance guaranty supplied by the contractors should be furnished.

The auditor-general also asked the NPA to pay into the Consolidated Revenue Fund, the sum of N2.33bn being money collected from the disputed cargo tracking note by the NPA, which had been kept in a dedicated account until July 2017 when the Economic and Financial Crime Commission directed First City Monument Bank that had been the custodian of the fund, to transfer the fund to an EFCC account.

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‘Miracle Money’ Gospel Undermining Nigeria’s Development — Prof. Yemi Osinbajo

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Former Vice-President Yemi Osinbajo has cautioned Nigerian churches against promoting messages centred on miracles and prosperity without responsibility, saying such teachings undermine national development.

Osinbajo spoke in Lagos on Thursday at the 80th birthday lecture of Mike Okonkwo, presiding bishop of The Redeemed Evangelical Mission (TREM). The 24th edition of the Mike Okonkwo Annual Lecture was themed “The Nigeria Of Our Dream: Today’s Reality and a Responsible Pathfinder.”

Delivering a lecture titled “Church as a Responsible Pathfinder in Attaining the Nigeria of Our Dreams,” Osinbajo said only values of integrity, productivity, and responsibility can transform the nation and curb corruption.

“If the gospel is preached correctly, it will create renewed, regenerated men and women. We cannot build a nation on the doctrines of miracle money and shortcuts. True gospel preaching instils diligence, honesty, and responsibility. That is what changes societies,” he said.

The former vice-president warned that Africa’s failure to add value to its natural resources has kept it poor despite vast endowments. He cited cocoa production as an example, noting that while Africa grows the raw material, countries without cocoa dominate global profits by processing it into chocolate.

Osinbajo also drew lessons from the Puritans in Europe, who, he said, transformed their societies by emphasising integrity, hard work, and ethical living.

In his remarks, Bishop Okonkwo urged Nigerians to reflect on the country’s progress nearly 65 years after independence, stressing that every citizen has a role in nation-building.

“The Nigeria of our dreams can be realised, but every one of us must play our part. Responsibility cannot be shifted; we all must take it,” he said.

The chairman of the occasion, retired Major-General Ike Nwachukwu, described Nigeria as “a land of immense promise” constrained by poverty amidst plenty. He called for leaders and citizens who would rise above self-interest to pursue the common good.

At the event, Davina Phillips, winner of the Mike Okonkwo Essay Competition, received a cash prize of ₦1 million.

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Nigeria Politics Is About Betrayal – I Witnessed It In 2015 — Goodluck Jonathan

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Former President Goodluck Jonathan has said that betrayal is a common feature of Nigerian politics, recalling his experience during the 2015 general elections.

Jonathan spoke on Thursday at the 70th birthday celebration of Mike Oghiadomhe, former Edo deputy governor, in Benin, the state capital.

“Politics in the Nigerian standard is about betrayals. I witnessed a lot of betrayal during the 2015 election,” Jonathan said.

He noted that many politicians lack consistency, adding that few can be trusted.

“You will find it difficult to see somebody who will say the same thing in the morning and say the same thing in the afternoon and in the evening,” he said.

“They will tell you something this minute, and in the next hour, they will say another. But, I am quite pleased to associate with Oghiadomhe.”

The former president praised Oghiadomhe as a dependable ally, describing him as someone who would “take a bullet” on his behalf.

“For me, he is somebody you can take his words to the bank. Most politicians, you cannot take their words to the bank,” Jonathan added.

Oghiadomhe, who served as Edo deputy governor between 1999 and 2007, was Jonathan’s chief of staff from 2010 to 2014.

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FAAN Issues Travel Advisory As Reconstruction Of MMIA Terminal One Commences

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The Federal Airports Authority of Nigeria (FAAN) has announced the commencement of reconstruction works at Terminal One of the Murtala Muhammed International Airport (MMIA), Lagos.

In a travel advisory issued on Friday, the authority urged passengers to leave early for the airport to avoid missing their flights during the period of rehabilitation.

“To ensure a smooth travel experience, we kindly request that passengers leave early for the airport to avoid missing flights, obey all traffic instructions to aid traffic flow, and park vehicles properly in designated car park areas,” FAAN said.

The agency also advised that only travellers should come to the airport, citing limited space during the reconstruction process.

On August 1, the Federal Executive Council (FEC) approved contracts worth over ₦900 billion for infrastructure upgrades in the aviation sector. Festus Keyamo, minister of aviation, said at the time that the centrepiece of the projects would be the rehabilitation and modernisation of MMIA’s Terminal One.

According to him, the project will involve a complete overhaul of the terminal, including the rebuilding of its mechanical, electrical, and plumbing systems.

Keyamo disclosed that the rehabilitation of the Lagos airport terminal is expected to cost ₦712.25 billion, with a completion timeline of 22 months.

FAAN appealed for the cooperation of passengers and other airport users, adding that the reconstruction is part of broader efforts to modernise the country’s aviation infrastructure.

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