Connect with us

Society

EXPOSED: The N165b That Caused NPA Boss, Hadiza Usman’s Suspension

Published

4 years ago

on

Strong indications emerged on Friday that alleged non-remittance of 2016-2020 operating surpluses of N165.3 billion to the Federation Account by the Nigeria Ports Authority (NPA) may have led to the suspension of the Managing Director of the agency, Hadiza Bala Usman.

Her suspension also stemmed from alleged insubordination to Transportation Minister Rotimi Amaechi under whose ministry is the NPA.

Hadiza, according to sources, had not been attending some vital ministerial briefings as chief executive of one of the parastatals under the Ministry of Transportation.

But some political forces opposed to her suspension have launched a move to rescue her.

The Nation on Friday sighted some documents from the Budget Office of the Federation on the finances of the NPA between 2016 and 2020, which sources said convinced President Muhammadu Buhari to approve Hadiza’s probe.

Amaechi, it was gathered, wrote a memo to the President recommending a ministerial investigation of the activities of NPA under Hadiza.

The memo entitled: “Remittance of operating surplus to the consolidated revenue fund account (CRF) by the Nigerian Ports Authority from 2016 –date,” elaborates on the revenue shortfall in NPA.

“It has been observed from the records submitted by the Budget Office of the Federation that the yearly remittance of operating surpluses by the Nigerian Ports Authority from the year 2016 to 2020 has been far short of the amount due for actual remittance (see the tables attached),” the Minister said.

“In view of the above, I wish to suggest that the financial account of the activities of Nigeria Ports Authority be investigated for the period to 2020 to ascertain the true financial position and the outstanding unremitted balance of one hundred and sixty-five billion, three hundred and twenty million, nine hundred and sixty-two thousand, six hundred and ninety seven naira only (N165,320,962,697).”

Also Read: https://www.societyreporters.com/npa-md-hadiza-bala-usman-swims-in-n20bn-contract-fraud/

He asked the President to “approve that the account and remittance of NPA in the period of 2016-2020 be audited to account for the gross shortfall of remitted public funds.”

In response to the letter, the President on the 17th of March wrote on the letter: “Your above prayer is approved.”

A separate letter on 30th March was written to the Minister of Transportation by the Chief of Staff to the President, Prof. Ibrahim Gambari.“The letter, “Re-remittance of operating surplus to the consolidated revenue fund account (CRF) by the Nigerian Ports Authority from 2016-2020”, said: “Reference letter FMT/F7A/DFA/DMP/I/DI, dated 4th March 2020, I write to forward Reference A to you and to convey to you Mr. President’s approval of your prayers.

Findings however confirmed that the observations of the Budget Office of the Federation and insider’s abuse were “official justifications” to rein in Hadiza.

It was learnt that there were over 100 issues covering some of the following:

Alleged gross violation of procurement process

Administrative lapses leading to non-remittance of VAT deductions running into billions of naira and in foreign currency denomination to the Federal Inland Revenue Service.

Alleged excessive increase in administrative operational expenses.

Extra budgetary expenditures on hotel accommodation and under disclosure of expenditures on hotel expenses.

Alleged inflation of CSR expenses

About 573% rise in expenditure on local and foreign medical expenses, legal fees, corporate souvenirs and expenditure

Alleged increase in administrative cost by 72%

But an authoritative source said the strain in the relationship between the Minister of Transportation and the suspended MD might have fueled the action against her.

Another insider source said: “I think her suspension was the climax of the six-year cold war with her boss (Amaechi). The Minister actually recommended her for the job in 2016 and they started well.

“Along the line, the NPA MD assumed an independent status and refused to defer to Amaechi on the activities and management of the Ports Authority. It got to a stage that the minister never knew what was going on in NPA except through a third party.

“The alleged act of insubordination included refusal of the NPA MD to attend any ministerial briefing or meeting convened by Amaechi.

Also Read: https://www.societyreporters.com/exposed-how-npa-boss-hadiza-bala-usman-makes-business-unbearable-for-lagos-businessmen/

“Even when she wielded political influence to put NPA under the control of the Minister of State for Transportation, Sen. Gbemisola Saraki, her attitude did not change.

“The ‘miraculous’ manner in which she got reappointment for second term six months before the expiration of her tenure confirmed the breakdown of her relationship with Amaechi.

“The minister, who was waiting for the expiration of her tenure to make a point, was shocked to read about the announcement of her reappointment.”

Responding to a question, the source added: “When the minister tried to use the board to check Hadiza, it was not successful because of her high net worth political connection.”

A government source said although President Buhari was yet to hear from Hadiza, he opted for investigation to get a clearer picture.

The source said: “Once issues of alleged fraud or corruption and disloyalty are brought to the attention of the President, he does not waste time in acting. Those who are good in Presidential Villa politics have used Buhari’s disdain for corruption to their advantage.

“Buhari approved immediate suspension of the MD and investigation at the same time.”

It was gathered last night that some political forces had commenced underground moves to save Hadiza.

“There is intense lobbying by some forces for either the reversal of the suspension of Hadiza or an independent probe of the activities of NPA under her watch,” a source familiar with the development told The Nation.

“Those backing Hadiza claimed that she cannot get justice from an investigative committee raised by the minister.”

But a source in the Ministry of Transportation said: “It is unfortunate that some people are turning a serious case into a dispute between the Minister and Hadiza.

“Amaechi has lived with the insubordination in the last five years without complaining. Why are they not addressing the N165.3b surpluses unremitted by NPA?”

 

Additional Information From The Nation

Related Topics:
Continue Reading
Advertisement

Society

Revolutionizing Education: Brook International School Meets the Future at Tingo AI Radio

Published

1 day ago

on

March 21, 2025

By

In a groundbreaking collaboration, Brook International School students stepped into the future at Tingo AI Radio, Africa’s first and only AI-powered radio station. The event, a first of its kind, explored the transformative role of Artificial Intelligence (AI) in education, automation, and everyday life.
From interactive learning experiences to cutting-edge AI-driven automation, the event showcased how AI is reshaping education. Brook International School’s curriculum seamlessly integrates AI-powered tools, including adaptive learning systems, intelligent tutoring, and automated grading, equipping students and teachers with innovative solutions for a smarter future.
Beyond education, Tingo AI Radio demonstrated how AI enhances institutional efficiency by streamlining administrative tasks. With chatbots, predictive analytics, and automation, schools can optimize operations, allowing educators to focus on creativity and student engagement.
The event also unveiled AI’s impact on daily life, featuring demonstrations on virtual assistants, smart homes, and entertainment applications. Attendees gained first-hand experience of how AI can enhance productivity and connectivity in today’s fast-paced world.
“I’m so excited about the possibilities of AI in education!” said Ikeoluwa, a student at Brook International School. “This event showed me how AI can make learning more fun and interactive. I can’t wait to explore more AI-powered tools in my studies!”
As the pioneering AI radio station in Africa, Tingo AI Radio remains committed to promoting AI awareness, education, and adoption across the continent. Through collaborations like this, the station continues to empower the next generation, fostering innovation and preparing students for a tech-driven world.

Continue Reading

Society

BainesCredit Micro Finance Bank’s MD In Trouble, Allegedly Detained Over N100M Fraud

Published

1 day ago

on

March 21, 2025

By

The Economic & Financial Crimes Commission has arrested one Ayobami Adegoke, the Managing Director of BainesCredit Microfinance Bank based in Ikoyi following a criminal complaint by Dr Segun Oyebolu, the Managing Director of QuickAir Networks Limited who had alleged that the bank committed the fraud between April and August of 2022.

The allegation is based on fraudulent manipulation of customer accounts, resulting in the stealing of well over N100M Naira from the customer’s account between April and August 2022.

According to the complainant, the bank manipulated his accounts and posted false overdraft payments in his account between the periods, which unfortunately led to the sudden collapse of the enterprise.

According to the allegation, Ayobami Adegoke, BainesCredit MD and a host of others including one Mr Williams who has since left the country perpetrated this fraud by posting fictitious loan deductions in his account between the periods causing it to lose continued capacity to service its numerous travel~agent customer’s around the country.

The bank simply started posting fictitious, inexistent overdraft payments into our account, affecting us from being able to service our customers. It was really sad that this same bank took us to court in 2023, claiming we were owing on a phantom loan that was never taken from them.

It is really sad that a Bank like BainesCredit MFB Limited will prosecute one of its biggest customers on a fake loan. The matter was subsequently dismissed by the same court as the bank failed completely to bring any proof of the existence of such a loan to the company.

Representatives of Quickair Networks Limited has vowed to pursue the matter to its logical conclusion as the significant fraud has tainted its name and the name of its promoters aside causing it huge financial losses in the travel industry which they service.

Continue Reading

Society

Alleged N76Billion, $31.5Million Fraud: EFCC Presents Second Witness Against Ex-AMCON MD Kuru, Four Others In Lagos Court

Published

1 day ago

on

March 21, 2025

By

The Economic and Financial Crimes Commission (EFCC) on Wednesday presented its second prosecution witness, Austine Obegwe, a retired Group Executive Director in charge of Corporate and International Banking at Union Bank, in the trial of former Assets Management Corporation of Nigeria (AMCON) Managing Director Ahmed Kuru and four others.

Kuru and the other defendants are accused of defrauding Arik Airline of ₦76 billion and $31.5 million. The case is being heard before Justice Mojisola Dada at the Special Offences Court in Ikeja, Lagos.

The other defendants include Kamilu Omokide, a former Receiver Manager of Arik Airline Ltd.; Capt. Roy Ilegbodu, the airline’s Chief Executive Officer; Super Bravo Ltd.; and Union Bank Plc.

They face a six-count charge of theft, abuse of office, and dishonest appropriation of property.

Count one reads: “That you, Union Bank Nigeria Plc, sometime in 2011 or thereabouts, in Lagos, within the jurisdiction of this Honourable Court, with the intention of causing and/or inducing unwarranted sale of Arik Air loans and bank guarantees with Union Bank, made false statements to the Assets Management Corporation of Nigeria (AMCON), regarding Arik Air Limited’s performing loans, following which you transferred a bogus figure of N71, 000,000,000.00 (Seventy-One Billion Naira) to AMCON.”

Count two reads: “That you, Ahmed Lawal Kuru, Kamilu Alaba Omokide as Receiver Manager of Arik Air Limited, and Captain Roy Ilegbodu, Chief Executive Officer of Arik Air Limited in Receivership, sometime in 2022 or thereabout, in Lagos, within the jurisdiction of this honourable court, fraudulently converted to the use of NG Eagle Limited the total sum of N4,900,000,000.00 (Four Billion Nine Hundred Million Naira only), property of Arik Air Limited”.

The defendants, however, pleaded “not guilty” to all six charges when they were read out to them.

At the resumed trial on Wednesday, Obegwe informed the court that he worked with Union Bank from 1980 until his retirement in August 2009.

Led in evidence by the prosecution counsel, Wahaab Shittu (SAN), Obegwe testified that he handled the transaction with Arik Air and the US EXIM Bank for the purchase of three aircraft, for which Union Bank provided a guarantee.

He said, “I was a board member. I handled the transaction with Arik Air, for which Union Bank provided a guarantee. We had a second transaction for two wide-body aircraft, body-long hub A340500, and chemist of HSBC Germany Coface of the UK. Three of them are also shareholders.

“The credit financed the two Boeing (planes) agreed and there was no payment by Union Bank. He did not pay any money or communicate any money for the guarantee of 85%.

“In two wide-body aircraft, the hub was the major success that preceded the commendation from President Yar’Adua. This aircraft, one was fly to London and the other was fly direct to New York.

“The major focus of this airline finance is that Union Bank were able to provide pending of a loan up to 85% until I left the bank in August 2009. All facilities extended to Arik were performing, meaning that there was no default because of the way Arik was structured. But for Arik, he has two repayments every time.

“In return of providing falters of the aircraft, we make collection of credit card. Everything was cash. I’m also aware that there was no default of money for the first bank to apply to CBN and pay to HSBC in dollars, the bank representing all the foreign lenders.”

The prosecution counsel, Wahaab Shittu (SAN), sought to tender some documents relating to the transaction, which were satisfied by the EFCC.

All the defence counsel objected to this application on the grounds that the witness was not an author and there was no evidence of stratification payment. They urged the court to refuse this application.

In a short ruling, Justice Dada rejected the documents: “The witness in the box is not a member of the investigation team, he is not a member of AMCON, and the documents cannot be tender.”

The witness said further that “any bank can sell facilities if they want to sell or buy, and there was no request to sell any facilities when I was there”.

The counsel cross-examined the witness for the first and third defendants, Taiwo Osipitan, SAN, and Olasupo Shasore, SAN, counsel for the second defendant, Kuru, where they tendered several documents which the court admitted as exhibits.

Justice Dada adjourned the matter till May 19 and 28, 2025, for continuation of trial.

Continue Reading

Trending