NEWS
Audit Query: Reps panel Probes NPA, Terminal Operator over $68.473m debts
…As NPA Boss Gives Details Of Transactions
By John Danjuma
The Public Account Committee, (PAC) of the House of Representatives is investigating the Nigerian Port Authority, NPA and Terminal Operators (Nigeria) Limited over $68,473m debts owed the Federal Government on lease and Throughput fair between 2006 and June 2022.
The Committee being Chaired by Hon Busayo Oluwole Oke (PDP Osun) is also investigating the Terminal Operator for using own exchange rate different from the official one approved by the Central Bank of Nigeria, CBN in calculating revenue accuring to the Federal government
All were contained in the query from the office of the Auditor General of the Federation.
The Managing Director of the Nigeria Port Authority (NPA) Mohammed Bello-Koko had indicated in a submission to the Committee that one of the Port operators in charge of the Rivers Port, and Terminal Operators (Nigeria) Limited used its own exchange rate in calculating revenue accruing to the Nigerian government
The NPA boss stated in the Submission that PTOL used N116 to the dollar at a time when the official exchange rate was fixed at N305 to the dollar by the Central Bank of Nigeria in 2016.
The submission dated 27th July, 2022 which was in response to a letter from the committee also revealed that even while using another exchange rate of N151 agreed to after reconciliation, the terminal operator was still indebted to the government to the tune of $68.473 million as at 13th October, 2021.
The Auditor General of the Federation had indicted the company for not paying its lease fees and throughout fee to the government as at when due.
However, in its submission, the company claimed that contrary to the report of the Auditor General, it had been paying its lease fees and Throughput fee to the Nigeria Port Authority as at when due contrary to the AuGF report.
A supporting document submitted by the NPA to the House committee tabulated the payments made by two concessionaires (BUA and PTOL) on lease and Throughput fees between 2006 and June 2022.
A close study of the document however showed a huge disparity in the figures being owed the government by the company.
For example, while the document suggested that in 2008, PTOL was given a bill of $11,333,333.31 and paid $3,333,333.31, outstanding balance against them was put at $17,194,444.67 instead of $8,000,000.
Similarly, in 2019, the bill given to the company for its operation at the Rivers Port Complex stood at $10,080,000.00.
However, while the document indicated that they paid $3,000,000, outstanding balance against them was put at $102,714,749.66, a figure far above the bill given to it as its lease fee.
However, the NPA letter reads: “Your letter dated 20th, July 2022 to the Authority refers to the historical background of the debt profile of PTOL to NPA dated back to – the inception of the concession, in 2006.
“These issues revolve around the inability of the Operator to make payment on its lease fees as signed with BPE and NPA.
PTOL gave the following reasons among others for its indebtedness to NPA:
“Amortization of berth 1-3. The difference in-amortization carried out by PTOL and what was recognized by NPA was significant when converted from dollar to naira.
“NPA relied on the existing exchange rate given by CBN at 305 as at year 2016, at the time of reconciliation while PTOL used N116 to a dollar, being the -rate of dollar at the time of reconstruction.
“After reconciliation, a N151 to dollar was adopted, as stipulated in the supplemental agreement. The difference in valuation amounted to $11,068,187.16 and a credit note was issued on the 5th June, 2020.
“PTOL claimed no operation happened at the berth during the construction period of 2007 – 2009, hence loss of revenue. PTOL claimed 6 vessels were handled by NPA after the signing of the lease’ agreement. And a refund of 50% stevedoring element was considered.
“Huge disparity in lease fees charged compared to BUA. Disparity in existing draft with the initial advertised draft of 10 meters.
Security concerns at the Eastern Port. Oil and Gas related cargo vessel diversion to Onne Port, which they claimed affected their revenue.”
The letter said further that the outstanding debt profile as at June, 2019 against PTOL in NPA records stood at $100,985,846.82 while PTOL acknowledge only $77 ,976,788.81.
READ ALSO: Reps to Mount Diplomatic Pressure for Ekweremadu
It indicated further that at a joint meeting with BPE, PTOL and NPA on the 14th December 2021 on resolving the outstanding debts of the terminal operator, a further reconciliation was carried out by NPA and PTOL at the Rivers Port.
It said the highlights of the reconciliation showed that “an implementation of a further reduction of 25% lease fee review granted by the Ministry of Transport and BPE in June, 2015.
“This was predicated on the terminal operator paying a Guarantee Minimum Tonnage (GMT) penalty of $2,849,404.41. This review was not Implemented by failure of PTOL to pay the stipulated penalty. A further agreement to issue a credit note of $1,940,821.16 for the
period the detained vessels were at the PTOL berth. These vessels were detained by various government agencies.”
The letter also said that a credit note of $11,821,500.16 was raised for the non-utilization in the berth during the reconstruction of berth 1 – 3 undertaken by PTOL.
It stressed that the second round of reconciliation report is yet to be approved by the Board of the NPA before its dissolution by the Honorable Minister of Transport, while the
report has been forwarded to the reconstituted board and is currently being considered.
It said that after these reconciliations, PTOL debt profile to NPA stood at $68,473,637.72 as at 13th October,2021.
Determined to get to the root of the matter, Committee has directed both the NPA boss and the terminal Operator to appear before it on Tuesday for further investigation.
NEWS
2027 Elections: C’ River Slaps Presidential Candidates With N150m, Govs N100m Ad Fee
The Cross River State Signage and Advertisement Agency (CRISSAA) has fixed N150 million as the tariff for outdoor campaign advertisements by presidential candidates ahead of the 2027 general elections.
Under the new tariff, governorship candidates will pay N100 million, while senatorial candidates, House of Representatives candidates and State House of Assembly candidates are expected to pay N50 million, N25 million and N5 million, respectively.
SEE MORE: JUST IN: Former Cross River Gov Donald Duke Defects To ADC
The Director-General of CRISSAA, Ubong Sam, disclosed the rates during an interactive session with the Inter-Party Advisory Council (IPAC) in Calabar.
Sam said the tariffs were moderate compared with what obtains in neighbouring states, adding that CRISSAA had introduced measures to regulate advertising spaces and ensure fairness among political parties and candidates.
“We have tried to regulate advert space, by not allowing anybody to insult the integrity of anybody or party, by being fair in all ramifications, by giving advertisers opportunity to either dialogue or arbitration and not necessarily by litigation,” he said.
The CRISSAA boss also directed political parties to remove their campaign billboards and other advertising materials within 30 days after the announcement of election results.
According to him, campaign materials left beyond the 30-day period would be considered a nuisance.
“Immediately after each election, at the expiration when results are announced, political parties are given 30 days to take off their campaign materials. Once it’s beyond 30 days, the advert materials become a nuisance,” Sam said.
He warned that defaulters could have their campaign materials removed, pay fines or face prosecution before the Advertising Regulatory Council of Nigeria (ARCON).
While IPAC state chairman, Effiom Edet, backed the tariffs and described them as fair, some political parties rejected the charges.
The state chairman of the Action Democratic Party and the Publicity Secretary of the Peoples Democratic Party (PDP) described the tariffs as outrageous and exorbitant, arguing that they could prevent less financially buoyant parties from using billboards to publicise their campaigns.
PDP spokesman, Mike Ojisi, said he was not part of any IPAC meeting where the tariffs were agreed.
“The tariff is outrageous, exorbitant and a ploy to prevent other political parties from carrying out massive publicity through billboards. The tariff is totally unacceptable,” he said.
The new charges are expected to fuel further debate among political parties and stakeholders as preparations intensify ahead of the 2027 general elections.
NEWS
‘Retract Your Claims or Face ₦10bn Suit’ — Adeleke’s Campaign Spokesman Warns Fadahunsi
Pelumi Olajengbesi, spokesman for Osun State Governor Ademola Adeleke’s re-election campaign, has threatened to institute a ₦10 billion defamation suit against Senator Francis Fadahunsi over alleged defamatory statements.
Olajengbesi, through his lawyer, Hammed Lasisi, Esq., issued the threat in a letter dated August 12, 2026, demanding that the senator retract the statements and issue an unequivocal public apology within 24 hours.
The lawyer said the statements were made by Fadahunsi during television interviews on Viable TV on July 2 and Channels Television’s Politics Today on August 11.
SEE MORE: Osun 2026: Rising Violence Sparks Fear of Voter Apathy Ahead of Gov Poll
According to the letter, Fadahunsi allegedly questioned Olajengbesi’s identity and origin, stating that he was “not even from the same Ijebu-Jesha” and was “from somewhere in Ogun State.”
The senator also allegedly accused the campaign spokesman of “using thugs, Eiye and Aye.”
Olajengbesi’s lawyer argued that the remarks suggested that his client sponsored, associated with or deployed thugs and members of the Eiye and Aye cult groups for political activities.
The letter further cited Fadahunsi’s appearance on Politics Today, where he allegedly said of the late Ajayi Aderogba, popularly known as Rogba: “Rogba is an Eiye man sponsored by Barr. Olajengbesi terrorising the whole … my own territory up and down through all these Eiye and Aye.”
Olajengbesi denied the allegations, describing them as false, defamatory and injurious to his personal, professional and political reputation.
He maintained that he had never sponsored, financed, supported or patronised any cult group or its members for criminal, political or unlawful activities.
He also denied authorising anyone to terrorise, intimidate or attack members of the public on his behalf.
According to his lawyer, the allegation of sponsoring cultists and persons involved in acts of terror amounted to an accusation of criminal conduct and was particularly damaging to Olajengbesi as a legal practitioner and public figure.
The campaign spokesman has therefore demanded that Fadahunsi retract the alleged defamatory statements through the same media and social media platforms where they were published or disseminated.
He also demanded an “unequivocal and unreserved public apology” through appropriate national and social media platforms.
The lawyer warned that failure to comply within 24 hours would prompt Olajengbesi to approach the court to seek ₦10 billion in general and aggravated damages for defamation and injurious falsehood.
The dispute comes amid heightened political activities ahead of the 2026 Osun governorship election.
NEWS
Lake Kariba Tragedy: 44 Die as Overcrowded Ferry Capsizes
At least 44 people have died after an overcrowded ferry capsized on Zimbabwe’s Lake Kariba, with authorities continuing the search for possible survivors and missing passengers.
The ferry, operated by the Rural Infrastructure Development Agency, overturned on Tuesday while carrying 114 adult passengers, five crew members and an unspecified number of children.
According to Zimbabwe’s Civil Protection Unit, the vessel had a capacity of 90 people, indicating that it was carrying more passengers than its stated limit.
SEE ALSO: Tragedy In Jigawa As Boat Capsizes, Claims Nine Lives
Authorities initially reported that 77 people had been rescued and 15 bodies recovered. However, the Zimbabwe Republic Police later announced on Wednesday that the death toll had risen to 44.
“The ZRP informs the public that the death toll in the Kariba RIDA boat accident is now 44,” the police said in a statement posted on X.
A witness, Maxton Kanhema, told AFP that the ferry had departed in bad weather and may have been hit by a strong wave, causing its engines to switch off.
He said rescuers responded after a distress signal was seen and that bodies could be seen in the water.
“People were in distress… There were bodies in the water, and it was a sad situation to witness. Those that could be rescued were rescued,” Kanhema said.
A national park provided a helicopter to support the rescue operation, while larger boats, local divers and soldiers also joined the search.
The Civil Protection Unit said a specialised aquatic rescue team had been airlifted to the area. The 77 rescued passengers were taken to Long Island, located in the middle of the lake.
Two funeral parlours were also engaged to collect the recovered bodies as the search continued for anyone still unaccounted for.
The ferry serves communities between the northern town of Kariba and several islands and fishing villages around Lake Kariba.
Lake Kariba, which lies along the border between Zimbabwe and Zambia, is more than 300 kilometres northeast of Zimbabwe’s capital, Harare. It is the world’s largest man-made lake by volume.
The incident is one of the worst recorded passenger boat disasters on Lake Kariba.





