Abuja - A whopping sum of over N713 billion was not remitted to the federal government treasury by the Nigeria Ports Authority (NPA) in the last five years.
The fresh revelation was made by the National Conference Committee on Public Finance, reports New Telegraph
Senator Adamu Aliero, chairman of the committee, while presenting the committee’s report to all delegates, said the committee observed some disparities in the total amount generated by NPA during this period and the amount it remitted into the federation account.
He said the authority’s explanation that a large percentage of the revenue was expended on operating cost and capital expenditure was not tenable as the level of remittance when compared to revenue generated was low.
Read more at Telegraph
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