Reps Direct CBN, Finance Ministry to Refund 50% Deduction From Shippers Council Account
By Juliet Vincent
The House of Representatives has directed the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance to immediately refund the 50 percent deduction from the Nigerian Shippers’ Council’s account.
The House also mandated the Federal Ministry of Finance to release all outstanding 2 percent Port Development Levy Surcharge funds owed to the Nigerian Shippers’ Council.
This followed the adoption of a motion moved by Hon. Abba Ahmed Sani.
Presenting the motion, the lawmaker noted that the Federal Ministry of Finance deducted 50% of the Nigerian Shippers Council’s account balance in December 2023 under the provisions of the 2021 Finance Act.
According to him, the Federal Ministry of Finance has been slow and inconsistent in releasing the 2 percent portion of the 7 percent Port Development Levy Surcharge allocated to the Council, resulting in delayed and insufficient funding.
Rep. Sani said the non-release and delayed release of funds have caused significant operational challenges for the Council, including inability to pay salaries and retirees’ entitlements, leading to undue hardship for staff and retirees.
He further informed that, the headquarters of the Nigerian Shippers’ Council is in a critical condition due to structural and technical damages.
He added, “The building is at risk of imminent collapse, posing a significant danger to staff and visitors. This situation is a potential national disaster in waiting.”
“The building’s integrity is compromised, with a leaking roof that allows water to seep into the upper floors during rainfall. This worsens the structural damages and makes the environment uninhabitable and hazardous”.
He expressed concern that, the Nigerian Shippers’ Council is classified as a revenue-generating agency, placing it in the same category as other such agencies, even though they are not.
Rep. Sani added, “This misclassification has resulted in inadequate budgetary allocations, leaving the Council unable to meet its operational and financial obligations.”
The motion was unanimously adopted the motion and mandated its Committees on Shipping Services, Finance, and Public Accounts to ensure compliance with the resolution.
