NPA’s N13.595b trapped in three various banks says Hadiza Bala Usman

NPA’s N13.595b trapped in three  various banks says Hadiza Bala Usman

  Managing Director of NPA, Hadiza Bala Usman. have not said anything with respect to the trapped cash with various bank.

N13.595b belonging to the Nigerian Ports Authority (NPA) is trapped in three commercial banks and the Treasury Single Account (TSA) in the Central Bank of Nigeria (CBN)

About $24.1million (N9.399billion at N390 to a dollar) of the sum was lodged with Heritage Bank

The cash was allegedly hidden by some forces from the new management team.

Another trapped sum of €6million (N2.09billion) is in First Bank and FCMB.

 NPA had been losing about $38million (N14.820billion).

According to the new management team of NPA.

 “We wrote a letter to Heritage Bank but the bank claimed that it might have been an inherited liability from Enterprise Bank.NPA showed sufficient proof that it has the $24.1million in the bank. It is surprising that you are running a bank and you don’t know that there is $24.1million hidden from the management.

Heritage Bank management told NPA that the bank is going to sink if NPA is insisting on its demand for the $24.1million. We are not out to sink any bank but we want our funds back.

We also a case of €6million that has been swept into First Bank and FCMB. There is another $5.4million in NPA’s TSA Account in CBN which some people (officials) feigned knowledge of and not doing anything to access the funds.”

“We are here to review and reform the NPA to ensure that the government can no longer be shortchanged.”say the NPA new Management team. 


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