▲
▼

Welcome to NairaPark (NP)

It's possible to achieve your sales target through NairaPark. Learn How »

Don't miss Daily Updates

 
Name:
 
Email:
 
Mobile:

 
Keep me posted

Member Login

 
Lost your password?
 

NairaPark Statistics

45,100 Members    |    173 Online
Wednesday, December 13, 2017.

Not a Member? Sign Up!

 Male  Female  Terms
 
Nigerian News » Politics
 
 
 
 

N30tn leakage: Senate panel quizzes Airtel, BUA, 61 others


 
 
 
 
 
The Senate Joint Committee on Customs and Marine Transport, as part of its investigation into the alleged N30tn revenue leakage in the import and export value chain, has quizzed over 60 companies.

The Chairman of the joint committee, Senator Hope Uzodinma, said at an investigative meeting with of some the companies in Abuja on Tuesday that the firms would be invited in batches.

He stated that the panel would do anything to recover the funds.

The lawmaker stated that with the success achieved by the panel so far, it would do its best to bring the investigation to a conclusion soon.

He said the committee had already identified about 60 companies whose infractions were within the range of N10bn and above, after which it would move to the next batch.

Companies invited to Tuesday’s meeting are Airtel Nigeria, British American Tobacco Company, CCECC Nigeria Limited, the BUA Group, China Export Limited, CFAO Group, Chi Limited, Bhojsons Limited, Bharat Ventures Limited and the Boulos Group.

Others are African Wire and Allied Limited, Admiral Overseas Nigeria Limited, CKS International Limited, Abyem-Diva International Limited and Aarti Steel Nigeria Limited.

While decrying the level of complicity in the import and export value chain in the country, Uzodinma said the National Assembly would ensure that measures were taken to stop the corruption.

He said, “This is a continuation of the investigation that is ongoing and we have now started interfacing with the various companies that are directly involved in the infractions that we identified in the course of our investigation.

“Most of the companies have no evidence to show that our position is not correct. So, it is our hope that working together, whether you are from the executive arm, judiciary or the legislature, we must acknowledge the need for us to protect our national interest. We must grow this economy. Over the years, we over relied on oil revenue.”

He added, “The only way to rescue the economy from the present state is to expand our sources of income by strengthening the non-oil revenue earnings.

“The companies have pleaded to come back on Tuesday, and then we will invite the Nigeria Customs Service to issue necessary demand notices to all established cases. Then, the companies will make payments into the Federation Account with the Central Bank of Nigeria.”

Uzodinma explained that the probe was being done in stages, adding that the committee had interfaced with the commercial banks, collecting banks and the various agencies of government.

“It won’t be out of place to give them one week to get back to us. We will do this to satisfy the doctrine of fair hearing; and if there is anything they have to say to the contrary, they will have the opportunity to defend themselves. We do hope that after the session, the government will be able to earn more money,” he added.
 
 
 
 
 
 
You might also like:
 
‘No Man’s Land’: Oladele’s Libya tale

When I hired Oladele (not real name) a few months ago, I never imagined that he was a Libya returnee. As tales of woe began to emerge about...

India bans condom advertisements on TV

India has slapped a nationwide ban on television ads for condoms during prime time hours, citing rules prohibiting “vulgar” content and concerns...

Mata rallies Man United in wake of Mourinho defeatism

Manchester United players will have to motivate themselves at home to Bournemouth on Wednesday after manager Jose Mourinho suggested their Premier...

 
Outsourced Credit Control, Cash Flow, Debt Collection, Track and Trace, Loan Collection
 
 

 

 
 
 
 
Bulk SMS Widget
Type your message:
Schedule Message
image
 
 
Own an attractive Website along with Free Web Hosting, Domain Registration, Search Engine Submission and unlimited Email Accounts. Start Now »
 
73 Kobo Bulk SMS Service
1501662053
 
 
 
 
 
 
 
 
Signup on NairaPark NairaPark © 2010 - 2017 - All rights reserved. Signin to NairaPark
NairaPark © 2010 - 2017 - All rights reserved.

 
[x] Close

Not a Member? Sign Up!

 
 Male  Female  Terms
 

Already Registered? Sign In!

 
 

Forgot Password? Reset Now!