AGF wades into Crevice Between Intels, NPA Over TSA 

Kindly Share This Story:

The office of the Accountant General of the Federation (AGF), is seeking an amicable solution to the rift between the Nigerian Ports Authority (NPA) and Intels Nigeria Limited over the latter’s failure to remit government monies in its custody into the designated Treasury Single Account (TSA).

While the NPA insisted that about $200 million collected on its behalf by Intels was yet to be emitted into its TSA account, the company said there was an existing agreement on how monies should be remitted which it had always stuck to.

The $200 million accrued from rents, leases and throughput fees in Onne and Warri ports where Intels operates as one of NPA’s concessionaires.

Between 2010 and 2016, Intels reportedly remitted close to $343 million from the service boat collection,. Representing 27 per cent of total service boat revenue it collected for the NPA.

However, AGF Idris Mohammed said the remittance imbroglio was being resolved amicably.

“Yes, there was initial misunderstanding between Intels and NPA on enforcement of the TSA but I can tell you it is being resolved.”

“Remember, there was a subsisting binding contractual agreement between Intels and NPA and this obligation that was subsisting before TSA enforcement, this agreement cannot be immediately abrogated. Discussion is on-going between the management of the NPA and Intels for effective resolution, he said.


Kindly Share This Story:

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

amehnews greetings

%d bloggers like this: