December 4, 2022

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Pay N13.3bn unremitted funds to FG, Reps inform NEPZA


The Home of Representatives adhoc committee investigating problems with unclaimed funds, has directed the Nigeria Export Processing Zones Authority (NEPZA), to pay into the federal authorities coffers, the sum of N13.3 billion unremitted revenues.

The committee at its resumed listening to on Tuesday, additionally requested NEPZA to supply copies of validated receipts of monetary transactions, together with it’s remittances to authorities updated.

Nonetheless, the director in control of finance and administration at NEPZA, Oyesola Oyekunle who made look earlier than the Hon. Unyime Idem-led  panel insisted that the company was not indebted to the federal authorities, as all revenues generated over time have been paid to authorities updated.

The committee felt that Oyekunle contradicted himself when he said that since NEPZA was not totally funded, it remits solely 25 % of its income to authorities and has paid N3.93 billion naira as its final to authorities, making it to be updated in cost between the interval below evaluate – 2000 so far.

Based on the director, NEPZA operates below a round issued by the ministry of finance and never stipulated extant monetary legal guidelines as anticipated by the committee therefore the remittance proportion to authorities.

The committee insisted that the N13.3 billion arrived at was calculated based mostly on the 80 % income remittance provisions to authorities as contained within the monetary act and never on any round which was inferior to the legislation.

The committee adjourned its sitting for a later date, directing the company to reconcile their audited paperwork with that of the committee’s consultants, and give you a typical place.

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