₦airaland Forum

BLESSED BE THE NAME OFTHE MOST HIGH GOD

Poorboy:
Who tell you say you get influence abok.i? Sha just reasoning like his bro the dullard..

Ethnic bigot

Love of money......

Filthy lucre

ehnok:
Some of them died hungry...Change

Nonsense talk

Hmmmmm!
I can smell lies
Propaganda.

Fake news by mischievous faceless people

IPOB files divorce suit against Vanguard Newspapers

Wetin concern vanguard Newspapers and Biafra?

LORDOFAFONJAS:
He needs to go and rest, what he could not achieve in 8 years AMBODE did it in just a year, even in this crises

May God heal you of bitterness
It seems you don't see any good thing in your fellow human beings

With

Nigeria is blessed with talents

bashydemy1:
FFK need to just shut up and face PDP wahala, When the same Sheriff was eating and dining with GEJ prio to election is it APC that impose him to be GEJ friend? When Fayose and Wike was singing his praise is it PMB that make him PDP chairman? this guys need to take the blame and not APC.

On point

bravojohny:
Very poor, fantastically poor

Whiner

Remarkable improvement in my area

masterpower:
This is good. The PDP that i know will surely surprise APC the evil party starving Nigerians to death.

PDP IS THE PARTY.

APC IS NOW AN OPPOSITION PARTY.

APC IS STARVING NIGERIANS TO DEATH.

Clown

The thugs that you used for election rigging are now turning against you.

National Assembly.the house of greed,rogues and thieves.

Alleged N11.23billion fraud uncovered at NPA, three banks fingered
August 13, 2016Ben Ezeamalu
Hadiza bala Usman
Related News

N8bn Naira Note Fraud: CBN pledges to help EFCC probe its officialsJune 1, 2015

EFCC Invitation: Skye Bank denies concealing N6.2billion govt moneyMarch 11, 2016

Kano anti-graft commission uncovers N207m fraud in microfinance banksOctober 25, 2015

How Central Bank officials defrauded Nigeria of N8 billion – EFCCMay 31, 2015

Nigeria's Attorney General in dogfight with recovery agent over stolen assetsMay 4, 2016

The new management of the Nigerian Ports Authority has uncovered fraud totalling N11.23 billion at the agency, officials familiar with the matter have told PREMIUM TIMES.

The officials said the Managing Director, Hadiza Bala Usman, and her executive directors have since their assumption of duties on July 18 been poring through the books of the maritime agency.

So far, this newspaper learnt, a series of transactions suspected to be fraudulent and amounting to N11.23billion have been uncovered.

Of the amount, $24.1million (N7.47billion at N310 per dollar) was traced to Heritage Bank, the successor bank to the defunct Societe Generale Bank owned by the Saraki family.

Insiders said the funds were collected by the bank as revenue for NPA, but that the financial house, in collusion with some officials of the maritime agency, failed to move it into NPA’s Treasury Single Account with the Central Bank of Nigeria.

“They were hiding the money there, and earning interests,” one official said.

The former management of the agency also failed to disclose the funds in the handover note passed to the Ms. Bala Usman-led team, our sources said.

Another six million Euros (N2.09billion at N348 to a dollar) were found concealed in two banks – First Bank of Nigeria and First City Monument Bank, our sources said.

Yet another $5.4million (N1.67billion at N310 to a dollar) belonging to the NPA was moved to TSA accounts in the CBN different from those belonging to the maritime agency, insiders say.

It remains unclear what the new NPA management is doing to recover the funds, but our sources said Ms. Bala Usman already contacted Heritage Bank, First Bank and FCMB directing them to release the agency’s funds in their custody.

Heritage Bank’s officials were quoted to have claimed that releasing the funds might lead to the collapse of their bank.

When contacted, the NPA managing director confirmed that her team had been receiving briefings and looking into the books of the agency in the past weeks.

She said some revenue leakages and hidden funds had been located but that she was not ready to provide details because the minister supervising the authority had not been briefed.

PREMIUM TIMES became aware of the fraud in the NPA hours after Ms. Bala Usman indicated that her management would audit funds sunk into dredging projects.

Ms. Bala Usman made the disclosure to journalists at the end of her tour of Calabar port, which many stakeholders suggested should be dredged to accommodate bigger ocean-going vessels.

According to her, there is need to look at some of the funds expended on capital and maintenance dredging.

She said that funds used for such dredging projects in the past “should not be that high’’.

“It’s good time for us to compare capital dredging and maintenance dredging,’’ the News Agency of NIgeria quoted the managing director as saying.
August 13, 2016Ben Ezeamalu
Hadiza bala Usman
Related News

N8bn Naira Note Fraud: CBN pledges to help EFCC probe its officialsJune 1, 2015

EFCC Invitation: Skye Bank denies concealing N6.2billion govt moneyMarch 11, 2016

Kano anti-graft commission uncovers N207m fraud in microfinance banksOctober 25, 2015

How Central Bank officials defrauded Nigeria of N8 billion – EFCCMay 31, 2015

Nigeria's Attorney General in dogfight with recovery agent over stolen assetsMay 4, 2016

The new management of the Nigerian Ports Authority has uncovered fraud totalling N11.23 billion at the agency, officials familiar with the matter have told PREMIUM TIMES.

The officials said the Managing Director, Hadiza Bala Usman, and her executive directors have since their assumption of duties on July 18 been poring through the books of the maritime agency.

So far, this newspaper learnt, a series of transactions suspected to be fraudulent and amounting to N11.23billion have been uncovered.

Of the amount, $24.1million (N7.47billion at N310 per dollar) was traced to Heritage Bank, the successor bank to the defunct Societe Generale Bank owned by the Saraki family.

Insiders said the funds were collected by the bank as revenue for NPA, but that the financial house, in collusion with some officials of the maritime agency, failed to move it into NPA’s Treasury Single Account with the Central Bank of Nigeria.

“They were hiding the money there, and earning interests,” one official said.

The former management of the agency also failed to disclose the funds in the handover note passed to the Ms. Bala Usman-led team, our sources said.

Another six million Euros (N2.09billion at N348 to a dollar) were found concealed in two banks – First Bank of Nigeria and First City Monument Bank, our sources said.

Yet another $5.4million (N1.67billion at N310 to a dollar) belonging to the NPA was moved to TSA accounts in the CBN different from those belonging to the maritime agency, insiders say.

It remains unclear what the new NPA management is doing to recover the funds, but our sources said Ms. Bala Usman already contacted Heritage Bank, First Bank and FCMB directing them to release the agency’s funds in their custody.

Heritage Bank’s officials were quoted to have claimed that releasing the funds might lead to the collapse of their bank.

When contacted, the NPA managing director confirmed that her team had been receiving briefings and looking into the books of the agency in the past weeks.

She said some revenue leakages and hidden funds had been located but that she was not ready to provide details because the minister supervising the authority had not been briefed.

PREMIUM TIMES became aware of the fraud in the NPA hours after Ms. Bala Usman indicated that her management would audit funds sunk into dredging projects.

Ms. Bala Usman made the disclosure to journalists at the end of her tour of Calabar port, which many stakeholders suggested should be dredged to accommodate bigger ocean-going vessels.

According to her, there is need to look at some of the funds expended on capital and maintenance dredging.

She said that funds used for such dredging projects in the past “should not be that high’’.

“It’s good time for us to compare capital dredging and maintenance dredging,’’ the News Agency of NIgeria quoted the managing director as saying.
http://www.premiumtimesng.com/news/headlines/208530-alleged-n11-23billion-fraud-uncovered-npa-three-banks-fingered.html

Some people will soon come out to condemn this report.
We know them

Fayose the garrulous guy

Ok

Good development

Immunity does not immunise your loots

H

temptnow:
Don't be surprise , Buhari is killing yorubbers thinking he is killing ijaws cos the media call them ijaw militant

Criminal na criminal

Some people don't think before they talk.
Fayose is more problems to PDP than blessings

Legislooters!

How long does it take to come out after submitting all the requirements

May God save the nation from selfish hawks that think about themselves alone

So legislators are licensed to steal