Senate threatens to prosecute ‘ports cabal’ over alleged N30trn fraud

The Senate Joint Committee on Customs, Excise and Tariff, has alleged that some people it tagged “port cabal” scammed the country of N30 trillion recently.

The Senate has therefore ordered those involved to within four days come clean on what they did with the huge amount or face prosecution.

The lawmakers lamented that the money which was not accounted for in the sector is four times above the country’s current national budget, and vowed to ensure that all those involved in the alleged scam face prosecution.

Senator Hope Uzodinma, during the Public Hearing of the Joint Committee on Customs, Excise and Tariff, bemoaned the level of corruption preliminary findings sequel to a probe into the activities of Customs, on financial leakages and malpractices in the nation’s ports and revenue system uncovered.

He frowned at the evidence of how “a group of unpatriotic persons brazenly constitute themselves into a cabal to inflict infractions at the nation’s sea ports.”

He noted that the infractions now occur on daily basis at the nation’s sea ports and accused commercial banks, shipping companies, terminal owners and operators of conniving with officials of Customs and Nigerian Ports Authority (NPA) to defraud the country of trillions of naira.

The infractions according to Uzodimma, come in various forms, ranging from abuse and violation of foreign exchange issued by Central Bank of Nigeria (CBN) to incorrect classification and under valuation of vessels coming into the country.

The Senate had in the course of their investigation ordered the management of NPA to account for 282 missing vessels and called on the NPA and Customs to tell why they failed to collect charges on the vessels and who authorised the release of the vessels from the ports.

“The Senate has mandated us to carry out a holistic investigation into the scandalous financial leakages that have become the norm in our ports. Quite worrisome is the fact that these leakages are costing our dear country trillions of naira in revenue and inversely constitute a clear and present security threat to our nation.

“It is common knowledge that infractions abound in daily transactions at the nation’s sea ports. Commercial banks, shipping companies, terminal owners and operators connive at ease with officials to defraud our dear nation in trillions of naira.”

“Preliminary evidence before us suggests that this is the case in all sea ports. lndeed, initial evidence at our disposal clearly suggests that the port cabal has in recent memory, defrauded the nation of well over N30 trillion.

“It is distressing to note that while our nation is undergoing an exhausting recession, a group of unpatriotic persons, who brazenly constitute themselves into a cabal, is determined to deepen the pains of the nation through very repugnant practices.

Read also : Senate introduces new bill to cripple EFCC’s control of NFIU

“The Senate, determined to put an end to this villainous assault on the economy of our nation, has now taken the bull by the horn, and set out to get to the bottom of this organised crime, and come up with future proof ways at eradicating this gruesome menace.

“In doing so, we shall be minded by the reality that those who want to bleed the nation to death without remorse, must be dealt with without reprieve. Consequently, all those indicted in this crime will be made to face the full wrath of the law, ” Uzodinma said.

 

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