N30 Trillion Revenue Leakage: No Amount Of Blackmail Will Stop Our Investigations” – Senate

N30 Trillion Revenue Leakage: No Amount Of Blackmail Will Stop Our Investigations” – Senate

Senate Joint Committee on Customs, Excise, Tariff and Marine Transport intensified investigation on alleged N30 Trillion revenue leakage through the country’s seaports on Wednesday vowing not to relent on efforts to recover the fund back into the country’s coffer.

Speaking with journalists, Committee Chairman, Senator Hope Uzodinma said his committee will not surrender to cheap blackmail currently instituted against it in some quarters to frustrate the probe.

Uzodinma insists on his committee earlier preliminary findings showing how importers in connivance with Customs and officials of Nigerian Port Authority (NPA) fleeced Nigeria of roughly N30 trillion worth of revenue.

He said his committee is determined to recover all monies from erring companies; pointing out that no amount of pressure mounted on it will deter it from completing the assignment given to it at plenary.

The lawmaker said as a businessman he must have done a few businesses with NPA, he said his contracts were genuine and in line with international best practices.

The committee is investigating revenue leakages in different infractions ranging from abuse of foreign exchange to under valuation of vessels at the seaports.

Sixty one companies have appeared before the committee in a list of over 2000 being investigated in the last two weeks.

Uzodinna said his panel probe is yielding good results as some companies have begun to remit what they owe back to government with more companies expected to own.

The panel has so far recovered over N120 billion as three more companies on Wednesday showed receipts of payment in on going reconciliation.

The Senate probe panel would however not hesitate to push for the prosecution of other erring companies who fail to admit guilt and cough out monies recorded in their names.

The probe which is one of the biggest in Nigeria’s history continues with the alleged N30 trillion representing more than four times the total value of the country’s current N7.4 trillion national budget.

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