The House of Representatives has cleared the Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko, of allegations concerning N178 billion in bad debt as outlined in the authority’s 2019 audited financial statement.
Chairman of the House Committee on Public Petitions, Mike Etaba, dismissed the accusations during a public hearing held at the National Assembly Complex in Abuja on Wednesday. The allegations, raised by the Forum of Non-governmental Organisations in Nigeria, accused the NPA and Bello-Koko of involvement in the mismanagement of the N178 billion bad debt mentioned in the agency’s financial report.
However, at the commencement of the public hearing, the forum failed to appear before the committee to substantiate its claims.
Expressing disappointment over the absence of the forum, Etaba declared the petition lacked merit, emphasizing that the petitioner had failed to provide evidence to support its allegations against the NPA and its Managing Director.
“This is the sixth time the House Committee on Public Petition is sitting with respect to N178 billion bad debt allegations brought against the authority. The petitioner has not been in this place. The case is hereby dismissed,” stated Etaba.
The forum’s petition had urged the committee to summon the management of NPA to address the increase in alleged debt from N135 billion in 2018 to N173 billion in 2019, as indicated in the audited financial statement.
According to excerpts from the petition, “Our attention has been drawn to the 2019 audited financial statement of the authority with special reference to Trade Accounts Receivable and the huge provision made for bad and doubtful debts. Whilst we note that the position in 2019 would significantly change by now, the poor quality of NPA’s trade receivable account is alarming and requires urgent attention.”
The petition further highlighted concerns over the substantial debt profile and the provision for doubtful debts, deeming it detrimental to public interest.
In response to the petition, the House committee had called for the NPA management to address the escalating trend in doubtful debt from N135 billion in 2018 to N173 billion the subsequent year.
