Reps To Probe Usage Of N111.8 Billion NIMASA Intervention Fund

Posted by African Examiner Featured, Latest Headlines Thursday, April 28th, 2016

Ayodele Afolabi, Abuja

ABUJA, NIGERIA (AFRICAN EXAMINER) – The House of Representatives has mandated its three standing Committees including , Marine Safety, Education and Administration to investigate how the sum of N111.8 billion intervention fund granted the Nigerian Maritime Administration and Safety Agency (NIMASA) by the NNPC was expended.

Similarly, the Committees are to unravel what happened to the $10 billion intervention granted the organisation by the US government for infrastructure development and capacity building.

The Committee Chairman Hon. Mohammed Umaru Bago stated this when NIMASA management led by its recently appointed Director-General Dr. Dakuku Peterside met in Abuja.

He said the large scale embezzlement being X-rayed by the Economic and Financial Crimes Commission (EFCC) and linked to the organisation’s past Chief Executive necessitated the further probe.

Umaru added that the issue of granting concessionary waivers as opposed to the statutory sections of the Public Procurement Act in contract award and execution will be highlighted during the investigation.

The committee Chairman however assured NIMASA of a robust budget for 2016 that will enable it perform its statutory duties, while other committee members attested to Dakuku’s astuteness and leadership qualities going by his performance as Chairman House Committee on Petroleum (Upstream) in the 7th Assembly.

While presenting NIMASA’s N87.47 billion budget proposal for this year, Dr. Peterside said it was not only a balanced document drawn-up in line with the present administration’s emphasis on Approach, Methodology and Transparency, it was also aligned with zero budgeting targeted towards achieving the strategic objectives of the Agency.

On recovery efforts on the over 300 million dollars loaned out to ship owners and operators by the Agency to upgrade their fleet, Dakuku said while repayments are progressing smoothly with some, efforts are being intensified to ensure that defaulters come to terms with the loan agreement.