Reps Order CBN, Finance Ministry To Refund 50% Deduction From Shippers Council’s Account

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 Ministry of Finance to release all outstanding 2 percent Port Development Levy Surcharge funds owed to the Council.

Adopting a motion moved by Hon. Abba Ahmed Sani from Zamfara State on Wednesday, the Green Chamber further mandated its Committees on Shipping Services, Finance, and Public Accounts to ensure compliance with the resolution.

The House 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.

Also of concern was the fact that the Ministry 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.

The House expressed dismay that 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.

Similarly, the Green Chamber lamented that the headquarters of the Nigerian Shippers’ Council is in a critical condition due to structural and technical damages.

“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 lawmakers noted.

The federal lawmakers were concerned that “the building’s integrity is compromised, with a leaking roof that allows water to seep into the upper floors during rainfall, saying, “This worsens the structural damages and makes the environment uninhabitable and hazardous.”

Furthermore, the House was worried that the Nigerian Shippers’ Council is classified as a revenue-generating agency, placing it in the same category as other such agencies, even when they are not.

It noted further that, “This misclassification has resulted in inadequate budgetary allocations, leaving the Council unable to meet its operational and financial obligations.”

The motion was unanimously adopted and referred to the relevant committees.