The Nigerian Ports Authority, NPA, has recovered $5.1m out of the sum of $24.1m it discovered “hidden” in a Heritage Bank account.
According to shipsandports.com, the amount was not disclosed in the handover note the current leadership of the organisation received from the past management.
While speaking with journalists in Lagos on Wednesday, NPA managing director, Hadiza Bala Usman, confirmed the return of $5.1million by Heritage Bank into NPA’s Treasury Single Account with the Central Bank of Nigeria.
She said efforts were ongoing to retrieve the balance from the bank.
Besides the recovered money, Ms Usman also mentioned that the NPA was being owed about N10billion and $585million (N180billion) by some private firms and government agencies.
Nevertheless, she admitted that part of the amount could be classified as bad debt as it had been outstanding for more than 10 years.