Alleged N178bln debt: Reps dismiss petition against NPA, laud Bello-Koko, NPA

In order to address the increase in the claimed debt from N135 billion in 2018 to N173 billion in 2024, the petitioner had asked to be called to speak with the management of NPA.

Per Second NewsFebruary 29, 20241 Mins read2.4k

A petition alleging that Mr. Bello Koko, the Managing Director of the Nigeria Ports Authority (NPA), recorded a “bad debt of N178 billion” in the authority’s 2019 audited financial statement was on Wednesday rejected by the House of Representatives.

A group called the Forum of Non-Governmental Organisations in Nigeria had filed a petition with the House Committee on Public Petitions on the purported bad debt.

At the committee’s resumed public hearing on Wednesday, the group did not show up to defend the accusation.

Rep. Mike Etaba (APC-Cross River), the committee chairman, rejected the petition for lack of merit.

“The petitioner has not been at this hearing for the sixth time. Etaba declared, “The case is hereby dismissed.”

In order to address the increase in the claimed debt from N135 billion in 2018 to N173 billion in 2024, the petitioner had asked to be called to speak with the management of NPA.

A portion of the petition states, “Our attention has been brought to the Nigeria Port Authority’s (NPA) 2019 audited financial statement with special reference to Trade Accounts Receivable and the significant provision made for bad and doubtful debts.”

“Although we acknowledge that the situation in 2019 would have changed significantly by now, the alarmingly low quality of NPA’s accounts receivable warrants immediate attention.”