POLITICS,Senate directs minister, agency to return alleged diverted N14.3billion

The Senate has directed the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah and acting Managing Director of Nigeria Export Processing Zones Authority (NEPZA), Engineer Terhemba Nongo to return alleged diverted N14.3 billion from 2017 NEPZA budget into the National treasury.The upper legislative chamber in a letter written to that effect by Chairman of its Committee on Trade and Investment, Senator Mohammed Nakudu Sabo (APC Jigawa South West), warned the Minister and NEPZA boss to either comply with the directive or be ready to face serious legislative action against themThe dissatisfaction of the committee as explained by Senator Sabo in Abuja Monday was as a result of the alleged fraudulent way the diverted N14.3billion was hurriedly transfered from NEPZA account into a private company called Nigerian Special Economic Zone Company Account between April 8, to10 with disregard to earlier warnings.The available information to the committee shows that the said money is in the account of the Nigerian Special Economic Zone Company Account unappropriated for.That failure to comply with this directive will be visited with appropriate legislative action against your ministry as well as the company”.That failure to comply with this directive will be visited with appropriate legislative action against your ministry as well as the companyThe total sum of N48.14bn was appropriated in the 2017 Appropriation Act for NEPZA out of which the sum of N20.5bn only was released.However, there was a turn of event. A memo dated 28th June, 2018 was submitted to the Federal Executive Council ( FEC) by the Honorable Minister of Industry, Trade and Investment seeking among other things.However, the Committee in a letter titled: ” Re: Transfer of N14.3billion from NEPZA Account to Nigeria Special Economic Zone Company” and addressed to the Minister said: Pursuant to section 80(2)(3) and (4) of the constitution of the Federal Republic of Nigeria 1999 as amended and Financial Regulation sections 313 and 314 and Senate Standing Order 98, 14(a-s) of 2015 as amended, we hereby write to you on the above matterThat you should return the transfered N14.3bn from NEPZA account to the Nigeria Special Economic Zone Company account.

That you should return the transfered N14.3bn from NEPZA account to the Nigeria Special Economic Zone Company account.

“That the transferred money must be returned back to the treasury within one week from the date of receipt of this letter.

Daily Po