ADVERTISEMENT

Senate quizzes 60 firms over alleged N30trn revenue leakage

Over 60 companies were being investigated in connection with the sleaze, adding that concerned firms would be invited in batches to the committee’s sessions.

Nigerian Senate

Addressing some of the firms invited at the Tuesday session in Abuja, Chairman of the committee, Sen. Hope Uzodinma, said the committee would do everything to recover the funds.

He said that over 60 companies were being investigated in connection with the sleaze, adding that concerned firms would be invited in batches to the committee’s sessions.

Firms present at the meeting were CCEC Nigeria Ltd, China Export Ltd, CFAO Group, Chi Ltd, Bhojsons Ltd, Bharat Ventures Ltd, and Boulos Group.

ADVERTISEMENT

Others were African Wire and Allied Ltd, Admiral Overseas Nigeria Ltd, CKS International Ltd, Abyem-Diva International Ltd and Aarti Steel Nigeria Ltd.

Decrying the level of complicity in the import and export value chain in the country, the lawmaker said that the National Assembly would ensure that measures were taken to stop the corruption in the country.

“This is a continuation of the investigation that is ongoing and we have now started interfacing with the various companies that are directly involved in the infractions that we identified in the course of our investigation.

“Most of the companies have no evidence to show that our position is not correct.

“So, it is our hope that working together, whether you are from the executive arm, judiciary or the legislature, we must acknowledge the need for us to protect our national interest.

ADVERTISEMENT

“We must grow this economy. Over the years we over-relied on oil revenue.

“The only way to rescue the economy from the present state is to expand our sources of income by strengthening the non-oil revenue earnings.

“The companies have pleaded to come back next Tuesday, and then we will invite the Nigerian Customs Service to issue necessary demand notice to all established cases.

“Then the companies will make payments into the Federation Account with the Central Bank of Nigeria (CBN),’’ he said.

On why the investigation had lingered for long, Uzodinma said it was in different stages.

ADVERTISEMENT

He said that the committee had interfaced with commercial banks, collecting banks and the various agencies of government.

According to him, the meeting with the companies was the first time, and it won’t be out of place to give them one week to get back to us.

“We will do this to satisfy the doctrine of fair hearing and if there is anything they have to say to the contrary, they will have the opportunity to defend themselves.

“We do hope that after the session, government will be able to earn more money,’’ he said.

ADVERTISEMENT

The chairman said that with the success achieved so far, the committee would do its best to bring the investigation to conclusion in no distant time.

He said that the committee had already identified no fewer than 60 companies whose infractions were within the range of N10 billion and above.

On insinuations that the committee refused to work on the budget of the Nigeria Ports Authority (NPA), the lawmaker said it was a non-issue.

“I don’t want to join issues on the pages of newspapers discussing my official assignment.

“This is a joint committee mandated by Senate to investigate revenue leakages and so far we have done very well.

ADVERTISEMENT

“All I can say is that the management of the NPA has been confronted with some allegations and they are duty bound to defend them and say what they know. What they don’t know they should say they don’t know,’’ he said.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

You make bold decisions & live with consequences - Ondo Gov hails Tinubu at 72

You make bold decisions & live with consequences - Ondo Gov hails Tinubu at 72

170 electrical vandalism cases in 2 years, 100 charged to court - EEDC

170 electrical vandalism cases in 2 years, 100 charged to court - EEDC

Tinubu appoints Bello as chairman of code of conduct bureau

Tinubu appoints Bello as chairman of code of conduct bureau

Don't curse, condemn Nigeria in your sermons - Tinubu tells clerics

Don't curse, condemn Nigeria in your sermons - Tinubu tells clerics

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Wike thanks Tinubu for the opportunity to serve

Wike thanks Tinubu for the opportunity to serve

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT