MDA

Nigerian Ports Authority (NPA)

Project Location/State

Award Year

2019

Contract Sum

₦₦0.00

Amount Paid

₦₦0.00

Unaccounted

₦₦0.00

Context/Observation

1.Sea view Properties, UK, Ltd is a special purpose organisation established to manage NPA Properties in United Kingdom. NPA London office oversees the affair of the Company.
2. Rental income amounting to £272,931.86 (Two hundred and seventy-two thousand, nine hundred and thirty-one pounds, eighty-six pence) was generated from Fourteen (14) London Properties from January 2016 to June 2018;
3. The NPA Headquarters transferred the sum of £4,328,011.15 to London office between January 2016 and April 2018 for operational cost and other running expenses yet the Authority spent the paltry sum of £272,931.86 (Two hundred and seventy-two thousand, nine hundred and thirty-one Pounds, eighty-six
pence) of the gross rental income of 272,931.86 (Two hundred and seventy-two thousand, nine hundred and thirty-one Pounds, eighty-six pence) generated during the same period, and
v. Nothing was paid to the Consolidated Revenue Fund during the period.

Contractor

N/A

Beneficial Ownership Information

N/A

Legislative Recommendation

The Managing Director is requested to:
i. Account for the revenue of £272,931.86 (Two hundred and seventy-two thousand, nine hundred and thirty-one Pounds , eighty-six pence) which could have been remitted to the Consolidated Revenue Fund of the Federal Government.
ii. Account for the expenditure of £272,931.86 (Two hundred and seventy-two thousand, nine hundred and thirty-one Pounds, eighty-six pence) not accounted for, and
iii. Otherwise, apply sanctions relating to failure to collect and account for Government Revenue specified in paragraph 3112 of the Financial Regulations

Executive Action

N/A

Progress Report

N/A

Data Source

2019 Non compliance Audit report of the FG

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